Several TRS retirees expect to receive up to $7,500 in direct payments under the new senate bill in Texas.
Texas TRS Retirees Will Expect More Than $1 Billion in Relief Under Senate Bill 10
Several Texas Teacher Retirement System (TRS) retirees will expect more than $1 billion in relief under Senate Bill 10, which will be known as the largest state-funded relief for TRS retirees.
According to reports from KXAN, the eligible TRS retirees in Texas have been trying to get by with low retirement benefits amidst the increasing cost of living in the state, and the relief will help them meet their needs.
With the reported billions of reliefs, eligible TRS retirees, some of whom do not receive other benefits, will have the retirement benefits increase they have always wanted, especially with the increasing expenses and bills in the state.
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Eligible TRS Retirees Will Get Up To $7,500 Payment Under New Senate Bill
When the new senate bill passes into law, eligible TRS retirees in Texas will be entitled to up to $7,500 in direct payment, wherein TRS retirees aged at least 70 will receive $2,400 while TRS retirees aged 75 and above will get $7,500 in direct payments.
Senate Bill 10 will reportedly pass into law as long as Governor Greg Abbott will not veto the bill before June 18.
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