September 5, 2018      6:10 PM
TRS cuts health care liability by $300M with renegotiated pharmacy contract
Only short term solutions are on the table now, prompting Reps. Donna Howard, D-Austin, and Linda Koop, R-Dallas, to suggest another look at Comptroller Hegar’s legacy fund proposal
The Teacher Retirement System provided
Appropriations subcommittee on education funding with some good news
today, noting a renegotiated pharmacy benefits contract had shaved $300 million
off TRS-Care’s liability going into next session.
Lawmakers left last session knowing the fund that
underwrites retired teachers’ health care plans would be somewhere between $400
million to $600 million in the red. The anticipated liability is now somewhere
between $275 million and $410 million.
By Kimberly Reeves