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 the House 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

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