Texas Insider Report: AUSTIN, Texas – Governor Greg Abbott today directed the Teacher Retirement System of Texas (TRS) Board of Trustees to implement the maximum feasible premium reductions that both preserve the long-term financial stability of the TRS-Care fund and reduce Medicare Advantage insurance costs for retired educators.
"Texas has long supported the retired public educators who dedicated their careers to teaching the next generation of Texans," said Governor Abbott. "Over the past several years, the state has made historic investments to strengthen retirement security and provide meaningful financial relief to teachers. The state’s ongoing support for retired educators has created another opportunity to return savings directly to our retired teachers.”
Read the Governor's letter here.
In 2023, Governor Abbott signed legislation providing a $5 billion investment to issue a stipend and a cost-of-living adjustment that permanently increased monthly annuities to eligible retired public educators. Last year, the Governor delivered the largest investment in public education in Texas history, including over $4 billion for teacher and staff pay raises.
