H.B. No. 284 proposes an amendment to the Government Code by adding Section 814.605, which establishes a cost-of-living adjustment for certain benefits paid by the Employees Retirement System of Texas, effective January 2026. The bill specifies that eligible annuitants, including those receiving service retirement, disability retirement, death benefits, or other monthly benefits, will see an increase in their payments. To qualify for this adjustment, individuals must meet specific criteria related to their retirement or death dates, and the adjustment will not apply to certain benefit payments outlined in the bill.

The adjustment amount will be calculated based on the annuitant's retirement or death date, with different percentage increases (either 7% or 4%) depending on whether these dates fall before or after August 31, 2014. The board of trustees is tasked with determining eligibility and recalculating the monthly benefits accordingly. The bill stipulates that the adjustments will begin with payments made in January 2026 and clarifies that this adjustment is in addition to any other adjustments that may be granted under existing laws.

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