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The 80th Texas Legislature increased the state contribution rate to the Teacher Retirement System of Texas from 6.0% to 6.58% of employee payroll. This, coupled with investment returns of 14.4% in 2007, yielded an actuarial valuation that allowed the pension trust fund to pay the supplemental payment and still have a funding period under 31 years.
Employees Retirement System of Texas. Employees Retirement System of Texas (ERS) is an agency of the Texas state government. [1] ERS was created in 1947. [2] It oversees retirement benefits of state employees. [3] It is headquartered at 200 E 18th Street in Austin, Texas. [4] It is currently managed by CIO Tom Tull.
Created in 1967 by the Texas Legislature, the Texas County & District Retirement System (TCDRS) works with county and district employers to provide retirement, disability and survivor benefits to Texans. The system receives no funding from the State of Texas. Each plan is funded independently by the county or district and its employees.
401(k) auto-enrollment promises to increase participation in employer-sponsored retirement saving plans. Under a law passed in 2022, most new plans have to automatically enroll employees starting ...
The minimum wage in Texas, which applies to covered, nonexempt minimum wage workers, is only $7.25 per hour. Yet according to a living wage calculator developed by researchers at the Massachusetts ...
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The Texas Municipal Retirement System ( TMRS) is a statewide retirement system that provides retirement, disability, and death benefits for employees of participating Texas municipalities. TMRS was established in 1947 by Texas state law and is administered in accordance with the Texas Municipal Retirement System Act (Texas Government Code ...
April 6, 2024 at 11:48 AM. Kansas government employees are in line for a pay raise this year, but not as big of a raise as lawmakers are getting. Legislators approved the state budget in Senate ...
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