Texas HB3857 mandates cost-of-living adjustments for certain benefits paid by the Teacher Retirement System of Texas and requires a biennial study on.

Texas HB3857 amends the Teacher Retirement System of Texas to require cost-of-living adjustments for certain benefits, such as service retirement, disability retirement, and death benefits, to reflect inflation. The board of trustees must set the adjustment rate during the last seven days of October in odd-numbered years, applying it to the following two calendar years. The board may not increase benefits unless the system is actuarially sound and has sufficient funds. If funds are insufficient, the board must compute the largest possible adjustment while maintaining actuarial soundness.

Texas HB3857 mandates cost-of-living adjustments for certain benefits paid by the Teacher Retirement System of Texas and requires a biennial study on.

Texas HB3857 amends the Teacher Retirement System of Texas to require cost-of-living adjustments for certain benefits, such as service retirement, disability retirement, and death benefits, to reflect inflation. The board of trustees must set the adjustment rate during the last seven days of October in odd-numbered years, applying it to the following two calendar years. The board may not increase benefits unless the system is actuarially sound and has sufficient funds. If funds are insufficient, the board must compute the largest possible adjustment while maintaining actuarial soundness.