Texas § 814.604 COST-OF-LIVING ADJUSTMENT.

Texas Statutes

§ 814.604 — COST-OF-LIVING ADJUSTMENT.

Texas § 814.604

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 814.604 (2026).

Text

Sec. 814.604. COST-OF-LIVING ADJUSTMENT.

(a)The retirement system shall grant a one-time cost-of-living adjustment as provided by Subsections (b) and (c) on a finding by the board of trustees that, as determined by an actuarial valuation:

(1)the amortization period for the unfunded actuarial liabilities of the retirement system does not exceed 30 years by one or more years; and

(2)as a result of paying the adjustment, the time required to amortize the unfunded actuarial liabilities of the retirement system would not be increased to a period that exceeds 30 years by one or more years.

(b)The retirement system shall pay the cost-of-living adjustment under this section to a retiree who has been retired for 20 years or more on the date the board of trustees makes the finding in Subsection

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Sec. 814.604. COST-OF-LIVING ADJUSTMENT. (a) The retirement system shall grant a one-time cost-of-living adjustment as provided by Subsections (b) and (c) on a finding by the board of trustees that, as determined by an actuarial valuation:
(1) the amortization period for the unfunded actuarial liabilities of the retirement system does not exceed 30 years by one or more years; and
(2) as a result of paying the adjustment, the time required to amortize the unfunded actuarial liabilities of the retirement system would not be increased to a period that exceeds 30 years by one or more years.
(b) The retirement system shall pay the cost-of-living adjustment under this section to a retiree who has been retired for 20 years or more on the date the board of trustees makes the finding in Subsection (a), or to a beneficiary of the retiree, as an increase to a monthly service retirement benefit, disability retirement benefit, or death benefit, as applicable, paid under this chapter for service credited in the employee class.
(c) A cost-of-living adjustment under this section is limited to the lesser of:
(1) an amount equal to three percent of the monthly benefit subject to the increase; or
(2) $100 a month.