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Relating to preventing the loss of benefits by certain retirees of the Teacher Retirement System of Texas who resume service.
No significant fiscal implication to the State is anticipated.
SB 288 would provide a warning to a TRS retiree who violates the employment-after-retirement provision. If the retiree violates again, the retiree's pension annuity is reduced to an amount equal to the amount the retiree earned over the allowed number of hours. The retiree would be required to pay back to TRS the amount for the benefits they received while violating the employment-after-retirement provision.
As SB 288 does not pertain to the liberty principles, Texas Action is neutral on this bill. The employment-after-retirement rules are complicated and likely easily violated unintentionally. Offering a warning and reasonably limiting the penalty for violating the rules seems appropriate.