The Teacher Retirement System (TRS) Board of Trustees met on July 18 and 19 to approve a 13th check retirees will be receiving in September.
It will be the first time retirees will receive a 13th check since 2007, capped at $2,000, for eligible retirees that retired on or before December 31, 2018.
Lawmakers were able to fully fund the 13th check without adding debt to the state or to the pension fund through Senate Bill 500.
The bill also provided $524 million to fund additional state contributions to the pension fund in 2020 and 2021.
The increases in state funding are permanent increases, dedicated to Texas’ current and future retired public educators.