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TX Proposition 09 - Teacher Retirement System COA Adjustments
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| Parents |
> United States > Texas > Constitutional Amendments > 2023 TX Constitutional Amendments > Proposition 09 - Teacher Retirement System COA Adjustments
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| Office | Referendum |
| Honorific | Referendum - Abbr: |
| Type | Referendum |
| Filing Deadline | January 01, 2023 - 04:00pm Central |
| Polls Open | November 07, 2023 - 07:00am Central |
| Polls Close | November 07, 2023 - 07:00pm Central |
| Term Start | November 08, 2023 - 12:00pm |
| Term End | December 31, 3999 - 12:00pm |
| Contributor | Mr. Matt |
| Last Modified | Mr. Matt October 14, 2024 09:58pm |
| Data Sources | [Link] |
| Description |
The constitutional amendment authorizing the 88th Legislature to provide a cost-of-living adjustment to certain annuitants of the Teacher Retirement System of Texas.
The following would be added as Section 67 of Article 16 of the Texas Constitution:
State and Local Retirement Systems Sec. 67-a. (a) As the Teacher Retirement System of Texas is actuarially sound according to an actuarial valuation update performed in February 2023, the 88th Legislature, Regular Session, 2023:
(1) by general law may provide a cost-of-living adjustment to annuitants of the Teacher Retirement System of Texas who are eligible for the adjustment as determined by that general law; and
(2) may appropriate an amount of money from the general revenue fund to the comptroller of public accounts for deposit to the trust fund of the Teacher Retirement System of Texas to pay the adjustment authorized by Subdivision (1) of this subsection.
(b) For purposes of Section 22, Article VIII, of this constitution, an appropriation of state tax revenues made by the 88th Legislature, Regular Session, 2023, for the purpose described by Subsection (a)(1) of this section is treated as if it were an appropriation of revenues dedicated by this constitution.
(c) This section expires September 1, 2025.
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