Legislative Session News Archive
Regular Session News #12: Senate chamber to take up PBI bill next week
May 12, 2023
Senate Bill 18 (Sen. Price/co-sponsored by Senate President Cortez) is scheduled for floor debate in the Senate on Monday, May 15. The Senate chamber will convene at 2 p.m. SB 18 would establish a new model for providing permanent benefit increases (PBIs) to retirees and beneficiaries of the four state retirement systems for teachers, state employees, school employees, and state police. For details on the provisions of SB 18 as they currently sta...
Regular Session News #11: PBI funding bill moves to the full Senate
May 8, 2023
The Senate Finance committee reported Senate Bill 18 (Sen. Price/co-sponsored by Senate President Cortez) favorably as previously amended. SB 18 would establish a new model for providing permanent benefit increases (PBIs) to retirees and beneficiaries of the four state retirement systems for teachers, state employees, school employees, and state police. For details on the provisions of SB 18 as they currently stand, please read our May 2 Leg...
Regular Session News #10: House includes IUAL payments in budget bill (copy)
May 5, 2023
Yesterday, the full House amended and passed House Bill 1 (Rep. Zeringue), the legislation that provides for the operating expenses of state government for FY 2024. Amendments to HB 1 included a $444.3 million appropriation to TRSL to reduce the initial unfunded accrued liability (IUAL). The proposed FY 2024 appropriation would cover the scheduled employer payments to the IUAL for that fiscal year and make an additional payme...
Regular Session News #10: House includes IUAL payments in budget bill
May 5, 2023
Yesterday, the full House amended and passed House Bill 1 (Rep. Zeringue), the legislation that provides for the operating expenses of state government for FY 2024. Amendments to HB 1 included a $444.3 million appropriation to TRSL to reduce the initial unfunded accrued liability (IUAL). The proposed FY 2024 appropriation would cover the scheduled employer payments to the IUAL for that fiscal year and make an additional payment on this debt. The ...