History of benefit improvements, 1937-1994 / Teacher Retirement System of Texas.
Abstract
Citizens of Texas in 1936 approved an amendment to the Texas constitution (Section 48a of Article III) establishing
a retirement system for public school employees. The amendment provided: (1) state contributions to equal the
amount paid by the member; (2) member contributions to be 5% of compensation received but not to exceed $180 per
year; (3) no person to be eligible for an annuity who had taught fewer than 20 years in this state; and (4) funds to
be invested in government and municipal bonds.