Texas HB5322 mandates a one-time supplemental payment from the Teacher Retirement System of Texas to eligible annuitants.

HB5322 requires the Teacher Retirement System of Texas to issue a one-time supplemental payment to eligible annuitants. The payment amount is the lesser of the gross regular annuity payment for the prior month or $3,000. The payment is in addition to regular monthly annuity payments and subject to tax withholding. Certain groups, like disability retirees with less than 10 years of service, are excluded. The board of trustees determines eligibility, amount, timing, and manner of payment.

Texas HB5322 mandates a one-time supplemental payment from the Teacher Retirement System of Texas to eligible annuitants.

HB5322 requires the Teacher Retirement System of Texas to issue a one-time supplemental payment to eligible annuitants. The payment amount is the lesser of the gross regular annuity payment for the prior month or $3,000. The payment is in addition to regular monthly annuity payments and subject to tax withholding. Certain groups, like disability retirees with less than 10 years of service, are excluded. The board of trustees determines eligibility, amount, timing, and manner of payment.