Texas SB573 provides a cost-of-living adjustment for certain retirement benefits.

Texas SB573 amends the Government Code to provide a cost-of-living adjustment for certain benefits paid by the Employees Retirement System of Texas. The adjustment applies to service retirement, disability retirement, death, or other monthly benefits for eligible annuitants. The adjustment percentage varies based on the effective date of the annuitant's election or the date of death of the member. The adjustment takes effect for payments made on or after January 1, 2026. The board of trustees determines eligibility and the amount of the adjustment.

Texas SB573 provides a cost-of-living adjustment for certain retirement benefits.

Texas SB573 amends the Government Code to provide a cost-of-living adjustment for certain benefits paid by the Employees Retirement System of Texas. The adjustment applies to service retirement, disability retirement, death, or other monthly benefits for eligible annuitants. The adjustment percentage varies based on the effective date of the annuitant's election or the date of death of the member. The adjustment takes effect for payments made on or after January 1, 2026. The board of trustees determines eligibility and the amount of the adjustment.