Note: Social media posts circulating about a TRS cost-of-living adjustment (COLA) being on the November 2026 ballot are not accurate. Proposition 9 was on the November 2023 ballot and was approved by voters. Details are on this page.
COLAs and Stipends Completed
The 88 th Texas Legislative Regular Session concluded May 29, 2023. Below is information about TRS-related legislation regarding retiree benefit enhancements such as the one-time 2024 cost-of-living adjustments (COLAs) and one-time 2023 stipends.
TRS applied the COLA to eligible January 2024 annuity payments, which were paid on the last business day of the month (Jan. 31, 2024). More than 400,000 eligible annuitants had their payments adjusted, for a total increase in benefit payments of over $30 million. Funding for the one-time 2024 COLA was provided by the 88th Texas Legislature to protect the health of the pension trust fund.
TRS Provided One-Time COLA to Eligible Annuitants in January 2024
A one-time 2024 cost-of-living adjustment (COLA) was dependent on Texas voters approving a constitutional amendment (Proposition 9) to authorize the one-time 2024 COLA. Voters approved the amendment in the November 2023 election, and the COLA was applied to eligible annuitants' payments beginning with their January 2024 payment that was due the last business day of the month (Jan. 31, 2024).
Eligibility letters were mailed to annuitants in December 2023. Beginning the week of Jan. 22, 2024, TRS mailed a second letter showing the new monthly annuity payment reflecting the increase.
The 2024 COLA is a one-time permanent increase to annuities. Read more about SB 10 COLA amounts and eligibility.
Important Past Dates
May 29, 2023: Sine die or the last day of the 88 th Regular Legislative Session
July 10, 2023: TRS mailed notification letters to eligible annuitants advising them of eligibility, the amount they could expect to receive, and if the stipend was rollover eligible.
July 12, 2023: Electronic copies of notification letters were made available in MyTRS online accounts for eligible annuitants in their MyTRS Document Center (located under the Account Management tab).
July 13-14, 2023: The TRS Board of Trustees adopted a resolution directing staff to prepare for and issue the one-time age-specific stipend consistent with the provisions of SB 10 as passed during the 88th Texas Regular Legislative Session in 2023.
Mid to Late September 2023: TRS issued one-time stipends to eligible retirees.
Nov. 7, 2023 Election: As provided by HJR 2, Texas voters approved a constitutional amendment to fund the 2024 COLA. Visit the Secretary of State website to view election information.
Dec. 8, 2023: The TRS Board of Trustees adopted a resolution at its December 2023 meeting to take all necessary action to timely apply the 2024 COLA "upon certification of the election on Proposition 9 and receipt of the funding authorized by Proposition 9 for the COLA from the comptroller of public accounts."
Beginning the Week of Jan. 22, 2024: TRS mailed letters to eligible annuitants showing the new monthly annuity payment reflecting the 2024 COLA increase of their annuity payment amount.
Jan. 31, 2024: 2024 COLA was applied to eligible annuitants' payments beginning with their January 2024 payment.
Helpful Links
You can follow progress of legislation online at Texas Legislature Online
★ Understanding Your Pension Fund
★ Secretary of State’s Office on Voting in Texas
Find information and things you need to know about voting in Texas
★ Ballot Order for the Nov. 7, 2023 Constitutional Amendment Election
Proposition 9 (2023) – HJR 2, regular session "The constitutional amendment authorizing the 88th Legislature to provide a cost-of-living adjustment to certain annuitants of the Teacher Retirement System of Texas."
Security Reminder: Protecting Your TRS Information
The safety and security of our members and our members’ personal financial information is a paramount concern for TRS. As important reminders, please be aware that TRS would not be reaching out to you to request this type of information:
- Financial information such as bank account numbers
- Personal information such as social security number
- Passwords
Although TRS sometimes calls its members, if you’re unsure about the legitimacy of a communication from TRS, you can reach out to us directly at 1-800-223-8778.