More Money From Social Security — Not From ERS

Starting in January, you will see a 5.9 percent increase in your monthly Social Security check. That reflects the Social Security Administration’s recent announcement that the annual cost-of-living adjustment (COLA) they provide to 70 million Americans will be among the largest in decades. 

The federal government has long recognized that seniors on fixed incomes rely on a yearly COLA to pay for everyday expenses like groceries, rent, gas, and clothing. That’s especially true this year as the nation grapples with historically-high inflation. 

Unfortunately, the state of Texas hasn’t done the same for retired public employees since 2001. We are committed to changing that. 

Under state law, the Legislature can only approve a COLA for retirees when the Employees Retirement System is actuarily sound — and, as you know, it hasn’t been sound for years. The good news is that lawmakers agreed this past session to contribute $1 billion in new money to ERS each biennium moving forward. If they follow through on that promise, ERS will finally be made whole, and retirees like you could receive a COLA in the future. 

As your voice in the Capitol, AFSCME Texas Retirees is committed to electing candidates and working with legislators who will make good on that promise. Next legislative session, we will push for retirees to receive a 13th paycheck — just as retired teachers received this year — on the way to a long-overdue COLA in future sessions. 

The federal government understands how hard it is to keep up with rising costs. It’s time for the state government to see that too.