Texas Teacher Retirement Fund Gets $435M Boost

AUSTIN — Texas leaders announced Thursday that the state will direct $435 million of federal COVID-19 money to the Teacher Retirement System of Texas.

The money, which came from Coronavirus Relief Funds, will be used to offset retired educator healthcare costs related to COVID-19.

This infusion, along with previously appropriated money from the last legislative special session, will be applied to the TRS-ActiveCare healthcare plan to offset insurance premium increases. During the session, the state allocated about $286 million to help cover COVID-related health claims and keep premiums down.

By providing these funds, teachers will now see an average 0% increase — or even decrease — on healthcare premiums, officials said.

"With rising health-care costs and inflation soaring to a 40-year high, I am thrilled that we are able to allocate additional federal COVID-19 funding to TRS-ActiveCare to prevent health-care premiums from increasing," said Sen. Joan Huffman, chair of the Senate Finance Committee.