Last Friday, public education employees
and retirees across the state of Texas were dealt yet another blow. The board
of the Teacher Retirement System of Texas, which is the retirement system
for all public education employees---teachers, bus drivers, cafeteria workers,
maintenance workers, librarians, custodians, nurses, secretaries, counselors,police
officers, social workers, sign language interpreters, classroom aides,
cafeteria workers, and administrators—voted to reduce the rate of return
assumption from 8 percent to 7.25 percent, despite our pleas. We pleaded with them not to go lower than 7.5
percent, knowing that to do so would likely mean those of us who are retired
would likely never see a COLA (cost-of-living adjustment) and those still
working in our schools could see a change in their future pensions. Keep in mind, the rate wasn’t lowered because
our pension fund is performing so poorly.
On the contrary. In 2017, TRS saw
a 12 percent rate of return, which is considered stellar in the pension-fund
world.
It was a split vote, with the four who,
like us, have to live with TRS benefits voting against the 7.25. Trustee Dr. Greg Gibson made a motion to
adopt a 7.35 percent rate of return assumption.
It was seconded by Trustee Dick Nance.
Gibson, Nance, Trustee Dolores Ramirez, and Trustee Nanette Sissney
voted in favor of this motion. Chairman
Jarvis Hollingsworth and trustees Joe Colonnetta, David Corpus, John Elliott,
and Christopher Moss voted nay, so the motion failed. Elliott immediately made a motion to adopt a
7.25 percent rate of return assumption, and it was seconded by Corpus. Those two, along with Hollingsworth,
Colonnetta, and Moss voted in favor, and in another split vote, Ramirez,
Gibson, Nance, and Sissney voted against the motion. With a simple majority, the motion passed. Now,
our only hope is for the Texas Legislature to increase their TRS contribution
rate from the current 6.8 percent to 8.18 percent, which means an additional
$786 million. And that’s just for TRS to
maintain a 30-year funding period. (The state’s contribution to the Employees
Retirement System of Texas, or ERS, is 9.5 percent. This pension system provides pensions and
healthcare for all other state employees and for retired legislators. That is a
2.7 percent difference between what the state contributes to their own pension
fund and what they contribute to the pension fund of all of us who spend our
careers working in Texas public schools.)
This critical need for $786 million doesn’t include the money needed to
end our TRS healthcare nightmare.
Since January, active and retired
educators in every region of Texas have been living a healthcare nightmare,
compliments of the 2017 Legislative Session.
And yet, for seven months, Gov. Greg Abbott has remained silent.
·
These
are only a small number of the healthcare issues public education employees and
retirees have been facing since January.
Yet Gov. Abbott remained silent.
·
We
shared even
more stories. Yet Gov. Abbott remained
silent.
·
Retired
teacher and administrator Adrienne Gray Myers shared her
tragic healthcare story. Yet Gov.
Abbott remained silent.
·
Sen.
José Menéndez called
for a Special Session to address our healthcare. Yet Gov. Abbott remained silent.
·
Rep.
Ryan Guillen called for a
Special Session. Yet Gov. Abbott
remained silent.
·
Rep.
Terry Canales called
for a Special Session. Yet Gov.
Abbott remained silent.
·
I
shared the
story of 9-year-old Kensley, whose mom is a Texas teacher, and their TRS
healthcare battle dealing with Kensley’s diagnosis of thyroid cancer. Yet Gov. Abbott remained silent.
·
Public
education employees and retirees and people who support us have called,
tweeted, and sent mail and email to the governor’s office pleading with him to
address our nightmare. Yet Gov. Abbott remained
silent.
·
Because
all else has failed, last week, Rep. Terry Canales asked the governor to declare
TRS an emergency item at the start of the 2019 Legislative Session. Yet Gov. Abbott has remained silent.
Not
one word to the public education employees across the state who work in our
schools educating, feeding, counseling, and providing so much more for Texas
students. Not one word to those of us
who retired, believing the state’s promise to provide us with a pension and
with affordable healthcare. Not one word
to the 1.5 million TRS members explaining why the state’s contribution rate and
healthcare for retired legislators is so much better than the state’s
contribution rate and healthcare for retired educators.
While
we suffer physically, financially, and emotionally, Gov. Abbott remains silent.
Chris Ardis retired in May of 2013
following a 29-year teaching career. She now helps companies with business
communications and social media and works as a sales coordinator for Tony
Roma's and Macaroni Grill. Chris can be reached at cardis1022@aol.com. (Photo by
Linda Blackwell, McAllen)
Governor Abbott's silence is coming across as he has no intention to address the matter. The only recourse we have is to vote him out.
ReplyDeleteI agree but I am sorry to say that educators are not noted for actually taking action when it is needed. They typically like to complain but take no action to bring about change. There are several factors impacting their actions I believe, one is a number have spouses whose income is significant enough they ar not as concerned about retirement funds and the other is they vote for the party rather than the issue or person who can help them and in some cases the spouse is the primary decision maker in the family and some just do not vote. So sad! These are educated people! At least think of others who really need the funds to live.
ReplyDeleteThis is why it is critical for the 1.5 MILLION TRS members to rise up, once and for all, speak up, vote in November and get many others too, as well, and to engage in the 2019 Legislative Session!!!!
ReplyDeleteI am a TRS retiree, paying into the pension plan for 25 years. We were promised so much better! I will not be silent, Gov. Abbott! I will definitely be voting in November!!
ReplyDeleteGREAT! Be sure to get your family members and friends to go, too!
DeleteNice blog. Thanks for sharing such great information.
ReplyDeleteAngularJS Development Company ,
xamarin development company ,
Thank you!!
DeleteThanks for everything you are doing,can you tell me how much our premiums are going to rise as of January 1st 2019.I have called trs and get a different answer every time I call them.
ReplyDeleteHi! You're welcome. ALL of us need to be in this fight if we are to have any hope at all of recovering what we have lost.
DeleteHere is a column I wrote on the issue last year: http://www.yourvalleyvoice.com/news/20170607/summer-series--trs-vs-ers-part-i
I don't know if you've heard of not, but suddenly Dan Patrick sent a letter to TEA asking them NOT to increase our premiums in 2019, although HE is one of the ones who caused this!!
https://www.texastribune.org/2018/08/15/dan-patrick-urges-teacher-retirement-system-not-raise-health-care-prem/
DeleteHi. I'm sorry?
ReplyDeleteVery nice information sharing...
ReplyDeleteSo sad, isn't it? Our health care was not fixed, but we will be prepared for the 2021 Legislative Session!
DeleteAmazing write-up! You always have good humor in your Blog's , So much fun and easy to read! Schools In Sector57 Gurgaon
ReplyDelete