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By Jill Ament and Wells DunbarAugust 31, 20212:18 pmBusiness & Your Money, Education, Government & Politics. INDIANAPOLIS State Rep. Gregory W. Porter (D-Indianapolis), Ranking Democrat on the House Ways and Means Committee, today offered a proposal to provide a 13th check for retired teachers and state employees. Amendment #2 to House Bill 1260 would have provided a $250 payment in 2022 to the Teachers' Retirement Fund (TRF) and PERF members. 13th Check "They depend on that 13th check. The health of PERS has perhaps the greatest impact on our states credit rating., By joining our newsletter, you are confirming that you agree with the Privacy Policy, Frank Corder is a native of Pascagoula. The payment has been dubbed a 13th check an addition to retired teachers monthly pension checks. Rep. Greg Bonnen, chair of the Appropriations Committee, pointed out that if retirees receive a 13th check this year and a COLA in the 2023 Legislative Session, theyd actually be receiving more money overall than they would have if a A decade ago, Indiana leaders provided both a 13th check and a COLA that was usually over 2% to invest in the retirees that invested in the state. "Rumors are about 90 percent of the way things happen here at the Capitol and they're always based on something that was heard," added Representative Jay Hughes.Representatives Tom Miles and Jay Hughes have posted concerns over a rumor that there might be a push next year to do away with the "COLA" (13th check) for retirees during the coming session. Retired PERS Executive Director Pat Robertson sent the follow information: "What is often referred to as the 13th check is not a bonus, but, in reality, is simply a cost-of-living adjustment (COLA) added to a retirement benefit to account for effects of inflation. 6:57 PM on Jul 13, 2021 CDT. I suspect these questions will continue to be asked as we enter the appropriations process.. The least this body can do is show our retired Hoosiers the respect they deserve and pay them what they are owed.. Questions arise about future of public retirees' 13th check, Former wrestler tied to TANF scandal pleads guilty to conspiracy in federal court, 42K Mississippians without power after strong winds cause outages, Request a First Alert Weather School Visit. 2014: $476,401,043 ($38 million) Retired Teachers This week the Teacher Retirement System of Texas (TRS) announced that retired teachers will be receiving their one-time supplemental benefit check (commonly referred to as a 13th check) next Friday, January 14. All PERS retirees and beneficiaries who have been receiving benefit payments for at least one full fiscal year (July 1 through June 30) are eligible to receive a COLA. Can I waive or disclaim my right to receive the supplement payment? The Texas Pension Coalition (TPC) worked hard for retired teachers in Texas to receive a 13th check. Last week, Texas lawmakers passed SB 12, which will provide a 13th check of up to $2,000 for retired teachers. 2023 Indiana House Democratic Caucus. TRTA members, we are at a pivotal time. "It doesn't matter what it's called," noted Hughes. Texas Senate unanimously passes '13th check' for retired teachers How sustainable is the 13th Check WebNOW is the time for a meaningful and substantial COLA for TRS retirees. where Lt. Gov. 2013: $437,808,691 ($36 million) WebRetired Judges plan members will receive a 3.33% cost-of-living adjustment (COLA) effective July 1, 2022. Texas Legislature Provides 13th Check Texas Legislature Provides 13th Check Final passage of this bill into law will require the House Democrats who have fled the state to return to the House for a quorum. WebNOW is the time for a meaningful and substantial COLA for TRS retirees. Retired teachers in Texas have not received a cost-of-living increase since 2013. 2006) was amended in 1999 to provide for the automatic 3 percent annual benefit adjustment that is used to calculate COLA amounts. Every year about this time we hear the unfortunate forecasts of being able to meet these obligations while funding other needs.. 13th Check to Retired Teachers Will Be Issued Frank has served his community in both elected and appointed public office, hosted his own local radio and television programs, and managed private businesses all while being an engaged husband and father. The COLA is equal to 3% of the annual retirement allowance for each full fiscal year of retirement up to the year in which the retired member reaches age 60 (55 for those who became members of PERS before July 1, 2011), with 3% compounded for each fiscal year thereafter. 1000 Red River St. - Austin, Texas 78701 I look forward to my first meeting as a member of the PERS board next month and helping address this issue, Treasurer McRae told Yall Politics. This 13th paycheck is a welcome gesture for retired teachers whose annuities have stagnated but can it make a long-term difference for retirees pocketbooks? 13th 2023 Copyright American Federation of Teachers, AFL-CIO. The Legislature has provided 13th checks to retired teachers during each of the last two sessions, as well as in 2007. Can I waive or disclaim my right to receive the supplement payment? But, we, and I mean all Mississippians, have to be willing to make hard decisions if we want our state to be financially viable for the future. The Kentucky swimmer is an outspoken proponent for protecting biological females in athletic competition. Theyre completely dependent on the retirement check they receive from the state retirement system., Absent any broader action, Capo calls the 13th check a Band-Aid.. The Senate can take action on the House bill as soon as the week of March 6. Due diligence requires us to continue to look at such ways. Retired Teachers Only the Texas Legislature can approve a COLA for TRS retirees. "The fact is that employees worked their career at the state for that promise. The bill gives retired teachers, counselors and school staff in the Teacher Retirement System of Texas (TRST) who retired on or before Dec. 31, 2020, an additional, one-time retirement check. WebRetired Judges plan members will receive a 3.33% cost-of-living adjustment (COLA) effective July 1, 2022. Lt. Gov. Dan Patrick: Statement on the Unanimous Passage of 13th check Providing a 13th check for our retired teachers is yet another way we can honor their commitment to our children and to the future of Texas. Gulf of Mexico warming at faster rate than global ocean, study finds, At these old-school restaurants in Texas, you feel like its an extension of your home, Greg Abbott says if these corporate tax breaks return, renewable energy should be excluded. The Public Employees Retirement System of Mississippi (PERS) annual cost of living adjustment, otherwise known as the 13th Check, has grown nearly $400 million over the last decade. This would be the first 13th check retirees have received since 2007. 2016: $559,888,063 ($43 million) Retired Texas teachers closer to getting Those using direct deposit to receive TRS pension checks will likely receive the deposit that same day, but there might be a slight delay in processing the deposit due to Martin Luther King Jr. bank holiday weekend. But it is definitely a Band-Aid. Allrights reserved. Will retired Texas teachers receive While PERS cannot predict the actions of the Legislaturethe only governing body with the authority to change retirement benefitsI feel confident that providing a COLA is recognized as being important to the retirement security of retirees.". 13th How sustainable is the 13th Check Additionally, since 1994, retirees may receive the COLA in either monthly payments or in the lump sum form of a 13th check paid in December. Teachers who retired after Sept. 1, 2004 have never seen a cost-of-living increase to their pension plan. Occasionally, rumors circulate that the COLA will be eliminated or adjusted. A one-time check up to $2,400 is a welcome gesture for retired teachers whose annuities have stagnated. retired teachers As a state, we must honor our legal obligations to current and soon-to-be retirees, Wiggins said. Retired Texas AFT is affiliated with the American Federation of Teachers and AFL-CIO. He says if there's every going to be a change, it may well be that. Earning your trust every day. 13th Check to Retired Teachers Will Be Issued in January 2022 Posted on September 17, 2021 by hinojosa AUSTIN, TX Today, the Teacher Retirement System of Texas (TRS) adopted a resolution directing TRS staff to prepare and issue the 13th check authorized by the Texas Legislature during the Second Called Special Session. We also represent employees in universities, colleges, and community and junior colleges. 1. "Representative Jeff Smith tried to calm retirees fears via Facebook. The bill gives retired teachers, counselors and school staff in the Teacher Retirement System of Texas (TRST) who retired on or before Dec. 31, 2020, an additional, one-time retirement check. Instead of squashing rumors, it fired some up even more. The amendment was ruled out of order and therefore not granted a vote. Teacher's Retirement System. This week the Teacher Retirement System of Texas (TRS) announced that retired teachers will be receiving their one-time supplemental benefit check (commonly referred to as a 13th check) next Friday, January 14. All PERS retirees and beneficiaries who have been receiving benefit payments for at least one full fiscal year (July 1 through June 30) are eligible to receive a COLA. The 13th check confused many retirees when it was distributed in mid-January, as their regular check came in that same month less than they expected. INDIANAPOLIS State Rep. Gregory W. Porter (D-Indianapolis), Ranking Democrat on the House Ways and Means Committee, today offered a proposal to provide a 13th check for retired teachers and state employees. Rep. Greg Bonnen, chair of the Appropriations Committee, pointed out that if retirees receive a 13th check this year and a COLA in the 2023 Legislative Session, theyd actually be receiving more money overall than they would have if a The payment has been dubbed a 13th check an addition to retired teachers monthly pension checks. Its an appreciated one; its certainly better than nothing, absolutely. Earning your trust every day. The bill gives retired teachers, counselors and school staff in the Teacher Retirement System of Texas (TRST) who retired on or before Dec. 31, 2020, an additional, one-time retirement check. A 13th check, a one-time additional payment of up to $2,400, could be headed to retirees no later than January 2022, if approved in the special session The COLA benefit increase of 3.33% is based upon the state-mandated increase to the salary for actively employed judges and magistrates in positions covered by the Judges' Retirement System. EARLIER THIS YEAR: More than 400,000 retired Texas teachers receive 13th check today. Additionally, since 1994, retirees may receive the COLA in either monthly payments or in the lump sum form of a 13th check paid in December. The 13th check comes as a result of legislation passed this September. 2012: $402,514,750 ($33 million) Retired Teachers Teachers who retired after Sept. 1, 2004 have never seen a cost-of-living increase to their pension plan. The COLA is equal to 3% of the annual retirement allowance for each full fiscal year of retirement up to the year in which the retired member reaches age 60 (55 for those who became members of PERS before July 1, 2011), with 3% compounded for each fiscal year thereafter. 2008: $281,124,000 ($25 million) The COLA is equal to 3% of the annual retirement allowance for each full fiscal year of retirement up to the year in which the retired member reaches age 60 (55 for those who became members of PERS before July 1, 2011), with 3% compounded for each fiscal year thereafter. These FAQs are a guide to common questions related to public benefits as a result of the 13th Check Payment. This field is for validation purposes and should be left unchanged. Code Ann. These FAQs are a guide to common questions related to public benefits as a result of the 13th Check Payment. This would be the first 13th check retirees have received since 2007. The COLA benefit increase of 3.33% is based upon the state-mandated increase to the salary for actively employed judges and magistrates in positions covered by the Judges' Retirement System. Lt. Gov. Dan Patrick: Statement on the Unanimous Passage of The work needed to get the Legislature to pass a COLA for TRS retirees does not begin in January: it starts NOW. 6:57 PM on Jul 13, 2021 CDT. The bill passed unanimously in the Senate 31-0 and 145-1 in the House. Capo argues that an adjustment is fair for former teachers degreed professionals paid far below what others in comparable industries are paid. "We made a commitment to our state employees," said Miles. The Texas Pension Coalition (TPC) worked hard for retired teachers in Texas to receive a 13th check. Last week, Texas lawmakers passed SB 12, which will provide a 13th check of up to $2,000 for retired teachers. The walkout in the Legislature could end up hitting retired teachers in their pockets. Retired 1. retired teachers Providing a 13th check for our retired teachers is yet another way we can honor their commitment to our children and to the future of Texas. Its not fixing the structural problem we have with the system, he said. Advocates are pushing for legislation to help them. 13th Check Copyright 2017 MSNewsNow. We have a tremendous number of bus drivers, cafeteria workers and others that do not collect Social Security. Amendment #2 to House Bill 1260 would have provided a $250 payment in 2022 to the Teachers' Retirement Fund (TRF) What I read is this is the foundation for taking away that promise. The work needed to get the Legislature to pass a COLA for TRS retirees does not begin in January: it starts NOW. For many, TRS may offer the only form of retirement income. Only the Texas Legislature can approve a COLA for TRS retirees. 2015: $517,283,072 ($41 million) TRTA members, we are at a pivotal time. But he also points out participants in the Teacher Retirement System of Texas, or TRS, are not only teachers. Questions arise about future of public retirees This 13th paycheck is a welcome gesture for retired teachers whose annuities have stagnated but can it make a long-term difference for retirees pocketbooks? This week the Teacher Retirement System of Texas (TRS) announced that retired teachers will be receiving their one-time supplemental benefit check (commonly referred to as a 13th check) next Friday, January 14. At that rate of increase, the 13th Check could exceed $1 billion before the end of the next decade due to the manner in which the benefit is calculated. The checks should be in an amount either equal to their regular annuity payment or $2,400, whichever is less. The payment has been dubbed a 13th check an addition to retired teachers monthly pension checks. Can I waive or disclaim my right to receive the supplement payment? Retired 13th Check to Retired Teachers Will Be Issued Final passage of this bill into law will require the House Democrats who have fled the state to return to the House for a quorum. COLAs help ensure that retiree purchasing power remains relatively the same no matter how long a retiree may live and how quickly prices might rise. Rep. Greg Bonnen, chair of the Appropriations Committee, pointed out that if retirees receive a 13th check this year and a COLA in the 2023 Legislative Session, theyd actually be receiving more money overall than they would have if a This 13th paycheck is a welcome gesture for retired teachers whose annuities have stagnated but can it make a long-term difference for retirees pocketbooks? 2005: $211,530,000, As JJ states in their analysis, The funding level has fluctuated around 60% over the last five years despite two employer contribution increases of 300 basis points. "Still, it wouldn't be the first time the COLA check has been brought into question. HB 1028, 13 th check bill with a $50.00 increase from the last 13 th check paid in 2020, was passed unanimously by the House on February 14, 2023. The Texas AFT Legislative Team lobbied for and supported the passage of this bill but have continued to push legislators to pass a much needed and much overdue cost of living adjustment to permanently increase the regular monthly payments which TRS members receive. It's disappointing to see the supermajority once again place a rainy day fund over the everyday needs of hardworking Hoosiers, Porter said. 13th check for retired teachers looks likely; COLA The bill headed to the Governor will add restrictions to the opening of any new physical locations of EV manufacturers within the state, forcing them to follow franchise laws. Retired It's known as the 13th check. Texas AFT represents all non-administrative certified and classified public school employees in the state of Texas. Final passage of this bill into law will require the House Democrats who have fled the state to return to the House for a quorum. Its Now Easier To File A Complaint In Texas, The Long Road To A New Performing Arts Center In Frisco, Heel To Toe: This Little Cowboy Has A Boot Obsession, Abortion Activists Say Pregnant Texans Are Collateral In Senate Bill 8s Battle Against Abortion, In a Central Texas county, high schoolers are jailed on felony charges for vaping what could be legal hemp, As Texas STAAR test goes fully online, teachers feel defeated, Texas Education Agency projects confidence. Earning your trust every day. The Senate can take action on the House bill as soon as the week of March 6. The 2021 enacted state budget provided a one-percent cost-of-living adjustment (COLA) to retired teachers and state employees in lieu of a 13th check, which is a one-time, post-retirement payment based on an individual's number of years vested in their retirement plan. TRTA members, we are at a pivotal time. The Texas Pension Coalition (TPC) worked hard for retired teachers in Texas to receive a 13th check. Last week, Texas lawmakers passed SB 12, which will provide a 13th check of up to $2,000 for retired teachers. Teacher's Retirement System. Additionally, since 1994, retirees may receive the COLA in either monthly payments or in the lump sum form of a 13th check paid in December. New State Treasurer David McRae will be delving into this issue, as well, given the impact on Mississippis credit rating. The Senate can take action on the House bill as soon as the week of March 6. Franks interviews, articles, and columns have been shared throughout Mississippi as well as in national publications such as the Daily Caller. Zeph Capo, president of the Texas American Federation of Teachers, says while a 13th check is most certainly helpful in mitigating some of the harm thats been done to retirees in the form of stagnant annuities, its certainly not enough. Instead, the teachers union would prefer lawmakers look at a permanent cost of living adjustment that ensures that the system will be able to keep up with inflation. Comprehensive Annual Financial Reports (CAFR). Why retired teachers struggle to make ends 13th Check Will retired Texas teachers receive Sen. Wiggins expects this discussion will be on the table as Appropriations works through the state budget process this session. All Rights Reserved. Additionally, since 1994, retirees may receive the COLA in either monthly payments or in the lump sum form of a 13th check paid in December. 13th Amendment #2 to House Bill 1260 would have provided a $250 payment in 2022 to the Teachers' Retirement Fund (TRF) 2023 Magnolia Tribune. 13th check for retired teachers looks likely; COLA This 13th paycheck is a welcome gesture for retired teachers whose annuities have stagnated but can it make a long-term difference for retirees pocketbooks? We shouldn't back up on it. Retired Texas teachers closer to getting 13th 13th check for retired teachers looks likely; COLA The bill was referred to the Senate on February 15. It's nearly a month till lawmakers fill these hallways again but the chatter is already starting up. We represent the interests of teachers, counselors, librarians, diagnosticians, custodians, cafeteria workers, bus drivers, nurses, teaching assistants, clerical employees, and the other employees who make our schools work. How sustainable is the 13th Check HB 1028, 13 th check bill with a $50.00 increase from the last 13 th check paid in 2020, was passed unanimously by the House on February 14, 2023. 13th Check Retired Texas teachers closer to getting But is it ultimately just a drop in the bucket? A 13th check, a one-time additional payment of up to $2,400, could be headed to retirees no later than January 2022, if approved in the special session Members who receive paper checks should expect a regular delay due to postage. members set to receive 13th check January 14 That's an insult to the service of our retired teachers and state workers. Texas Legislature Provides 13th Check 13th 2009: $312,471,000 ($31 million) Retired teachers in Texas have not received a cost-of-living increase since 2013. 13th Check to Retired Teachers Will Be Issued This week the Teacher Retirement System of Texas (TRS) announced that retired teachers will be receiving their one-time supplemental benefit check (commonly referred to as a 13th check) next Friday, January 14. Teachers who retired after Sept. 1, 2004 have never seen a cost-of-living increase to their pension plan. 13th Check "I think there's a tendency that people forget that the wall and halls of the Capitol talk and seem to leak out," said Representative Tom Miles. members set to receive 13th check January 14 WebNOW is the time for a meaningful and substantial COLA for TRS retirees. 13th check Email Frank: frank@magnoliatribune.com. 1. Disclosure: As employees of the University of Texas at Austin, the staff on Texas Standard are members of the Teacher Retirement System of Texas. Mississippi is no exception, Sen. Wiggins said. 13th Check to Retired Teachers Will Be Issued in January 2022 Posted on September 17, 2021 by hinojosa AUSTIN, TX Today, the Teacher Retirement System of Texas (TRS) adopted a resolution directing TRS staff to prepare and issue the 13th check authorized by the Texas Legislature during the Second Called Special Session. Retired WebRetired Judges plan members will receive a 3.33% cost-of-living adjustment (COLA) effective July 1, 2022. Will retired Texas teachers receive The walkout in the Legislature could end up hitting retired teachers in their pockets. Questions arise about future of public retirees