A newly pending Senate Bill, SB 11, would make significant changes to the Teachers’ Retirement System, including:
- A $180,000 salary cap for state-funded pensions,
- A replacement of the current 6% “cap” with the Consumer Price Index (CPI),
- Election of TRS members to chose either a Cost of Living Adjustment (COLA) or a guaranteed 3% annual increase,
- Option to participate in a 401K Plan, as opposed to the TRS.