From Texas Standard.
Earlier this year there were fears that the 32-year-old health care system that covers hundreds of thousands of retired teachers was approaching a death spiral. The Teacher’s Retirement System’s TRS-Care was expected to experience a shortfall in excess of $1 billion.
Lawmakers came to the rescue with an infusion of cash – a temporary patch intended to shrink the system’s deficit to $700 million. But now, the Austin American-Statesman reports on another threat to the program – retired teachers are leaving it in droves.