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Teacher Retirement System: bill includes TRS care support; agency says $450M preserves retiree premium glide path
Summary
The Teacher Retirement System told the Article III subcommittee the introduced budget contains $450 million in general revenue to cap active‑care premium growth and allow TRS Care premiums to rise no more than 10% per year on average while the fund recovers from COVID‑era pressures.
The Teacher Retirement System briefed the Article III subcommittee on the introduced budget and recent changes to retiree and active health‑care financing, and staff asked the Legislature to keep a glide path so retirees’ premiums rise in manageable steps.
Why it matters: TRS manages pensions and two health plans that affect hundreds of thousands of active employees and retirees. Changes to TRS funding affect member premiums, employer contributions, and the state’s near‑term…
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