Notes

Teachers Need TRD Health Insurance to Protect Them
The Texas State Teachers Retirement System, which represents more than 4,000 active Texas state teachers, was surprised by the recent decision by legislators to cut retiree health care benefits. When TRS was created in 1985, it was designed to last only for two decades without additional funds as needed. Today it is expected to last until at least 2020 without any changes to pay-as-you-go or any other significant policy adjustments.

"If legislators will not protect the TRS, we will be forced to file for bankruptcy," says Karen Lewis, the agency's former administrator. She says that if no changes are made, she will be forced to sell all the state-owned bonds, which she has accumulated for many years, and will also have to sell off some of the private investments. A lot of those investments have been made in bonds that were issued under the DPS system, such as those purchased through the State Teachers' Retirement System and the System of Texas School Employees. In cheap insurance to avoid the problems that would arise from a collapse of the two pension funds, Lewis says that the legislature must come up with a plan for future funding.

The two health insurance plans are known as TRD and TRES. The TRDS plan was introduced in the early eighties. It was a system similar to the State Teachers' Pension System, which is the state-run retirement system for teachers. In this plan, the employee receives a fixed amount of money over their working career, called a defined benefit. The monthly benefit payments are equal to an actuarial value determined each year.

The TRES plan came about after the original retirement system was put into place. During this period, a group of retired teachers went to court and challenged the constitutionality of the pension system. The court ruled that the law was unfair because most of the retired teachers were not even qualified to receive the benefit. In other words, the court found that the system did not recognize the right of the working teachers to retire, and that they should have been given a choice of whether or not they wanted the plan.

Many Texas teachers joined the suit and claimed that the teachers had worked their whole lives for the system and that the money should not be taken from them to pay for the retirement benefits of those who retired early. because they weren't eligible to receive it. The district court ruled in favor of the retired teachers and ruled that the state's system was fair. and t here fore the Teachers Retirement System can continue to operate.

Now, the legislators are in the process of figuring out how to pay for the retirement and health insurance benefits. The current plan allows teachers to purchase coverage through their individual companies, such as their own health insurance plans. However, in order to do so, they must make monthly premium payments to both their private employers and the TRD fund, in addition to making regular contributions to the TRES.

The Texas State Teachers' Retirement System also offers the option for teachers who work part-time in an approved community college or vocational school to participate in a TRD Health Savings Plan, also known as an HSA. In a TRD Health Savings Plan, the teacher pays a fixed monthly fee to the TRD, plus other monthly fees based on the health plan options selected by the teacher, and the teacher pays his or her regular premium to the TRD. However, the benefit amount is the same as the teacher's regular premiums.

The TRD Health Insurance Plans provides quality coverage for teachers who have good health and are at a high risk for health-related issues. This plan covers things like dental expenses, vision care, long-term medications, and dental procedures. You may also have access to some other benefits if you have enrolled in a TRD Health Savings Plan, such as life and accident insurance and disability payments. These plans are important for any teacher who wants to protect their future and be properly covered for health and retirement.
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