Rising taxes, medical costs and the highest inflation in a generation are squeezing...
last year. And while everyone is affected when a dollar isn’t as valuable as it was yesterday, those hit hardest are people who live on fixed incomes — such as the roughly 450,000 former educators receiving benefits from the Teachers Retirement System of Texas.
Carroll retired about 15 years ago from San Antonio ISD after 38 years of service. San Antonio ISD employees pay into Social Security, she said, so she receives Social Security benefits in addition to her $1,700 monthly pension checks. It adds up to $36,000 a year.“Teachers have never made a lot of money. We’ve always had to budget. I used to teach budgeting. Always, all my life, I’ve done my budget. But my budget keeps going up and the money is less,” Carroll said.
Last year Gov. Greg Abbott signed into law a bill that distributed a 13th benefit check for TRS recipients, many of whom are teachers, but who can also be administrators, janitors or anyone who worked in Texas schools. It cost the state about $700 million. The extra check had pushed their January income into a different tax bracket, resulting in a lower payout. Many. Although TRS sent out several letters andattempting to explain the decrease, many were still confused and alarmed, thinking the lesser monthly payout would stay that way going forward.
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