FOR IMMEDIATE RELEASE

Contact:  Dan Sutherland, Legislative Director for Rep. Vicki Truitt

                (512) 463-0690 or dan.sutherland@house.state.tx.us

State Representative Honored at Texas Retired Teachers Association Annual Convention

April 16, 2008 (El Paso, TX) -- Representative Vicki Truitt was a featured speaker today at the 55th annual convention of the Texas Retired Teachers Association (TRTA), in El Paso.  She was also honored for her leadership and dedication to Texas’ retired teachers during the most recent legislative session.

 Representative Truitt, Chair of the House Pensions and Investments Committee, worked with TRTA and her fellow members of the Texas Legislature to ensure the TRS pension trust fund’s long-term solvency and to pass the first benefit increase received by retired teachers since 2000.

 “TRTA is honored to have Representative Truitt as a speaker at this year’s convention,” commented Tim Lee, TRTA Executive Director.  “TRTA members have heard so much about her leadership and commitment to protecting and improving the TRS fund and to making the one-time bonus check possible.  They are all looking forward to seeing her and thanking her personally for that resolve and dedication,” Lee concluded.  TRTA is the largest organization of retired school personnel in the United States.

 "I'm so pleased for our retired teachers who have had to wait too long for financial relief.  The $650 million new dollars appropriated to the fund by the Texas Legislature to TRS last session was key in making the 13th check a reality," said Truitt.  Rep. Truitt carried SB 1846 which increased the state’s retirement fund contribution from 6.0 percent to 6.58 percent of active teacher salaries and authorized the 13^th check. 

 The Texas Constitution prohibits the Teacher Retirement System from providing a benefit increase to its annuitants unless the fund is actuarially sound. The TRS fund has over $100 billion in assets, but has been actuarially unsound since the drop in the stock market after the 9/11 attack in 2001.

 "Thanks to the hard work of many concerned legislators, including Senator Duncan (R-Lubbock), the Senate author of SB 1846, as well as the work of Representatives Ruth McClendon (D-San Antonio), and Lois Kolkhorst (R-Brenham) both of whom are on the House Appropriations Committee, we were able to make this happen.  It was a privilege to work with them and all Texas legislators to improve the strength of the TRS fund for the good of our current and future retired teachers," said Truitt.  

 Rep. Vicki Truitt is a fifth term legislator from Tarrant County representing Grapevine, Colleyville, Southlake, Keller, Westlake, and parts of Trophy Club and far north Fort Worth.  She is Chairman of the House Committee on Pensions and Investments, Vice-Chairman of the Sunset Advisory Commission, and a member of the House Committee on Public Health.

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