Teachers Retirement Association; early retirement reduction factors for annuity commencement before normal retirement age modified.

Summary

The legislation revises how early‑retirement reductions are applied to Teachers Retirement Association annuities and updates the formula used to calculate school districts’ pension adjustment revenue. It also sets new percentage rates for coordinated and basic members based on service dates and establishes caps on state‑wide pension revenue. The changes take effect July 1 2026.

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