Two bills voted out of the House Appropriations Committee last week have been scheduled for House floor consideration Tuesday, Aug. 1. Both bills will help school retirees.

HB 80 by Rep. Drew Darby provides a cost-of-living adjustment for retirees who retired between Sep. 1, 2004 and Aug. 31, 2015. (Those who retired prior to September 2004 received an increase in 2013.) The raise will be the lesser of three percent or $100 per month.

HB 20 by Rep. Trent Ashby is the legislation that authorizes a $212 million draw from the Rainy Day Fund to help retirees with TRS-Care costs. TRS will ultimately determine how the money is distributed (lowered premiums, lowered deductibles, etc.), but a suggested distribution is as follows:

  • Reduce the deductible for non-Medicare retirees from $3,000 to $1,500.
  • Reduce premiums for retirees (Medicare and non-Medicare) with adult disabled children by more than $200/month.
  • Reduce the out-of-pocket maximum for non-Medicare retirees from $6,650 to $5,650.
  • Reduce premiums for spousal coverage for both Medicare and non-Medicare retirees by $100/month.
  • Reduce premiums for child coverage for both Medicare and non-Medicare retirees by $25/month.
  • Reduce premiums for family coverage for both Medicare and non-Medicare retirees by $125/month