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The 80th Texas Legislature increased the state contribution rate to the Teacher Retirement System of Texas from 6.0% to 6.58% of employee payroll. This, coupled with investment returns of 14.4% in 2007, yielded an actuarial valuation that allowed the pension trust fund to pay the supplemental payment and still have a funding period under 31 years.
1-month salary for employees with seniority of less than 2 years (with given employer); 2-months salary for employees with seniority of 2 – 8 year (with given employer); 3-months salary for employees with seniority of more than 8 years (with given employer). Maximum severance is limited with a 15 x statutory minimum salary. [36]
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TSTA originated in Mexia in June 1880, when the North Texas Teachers Association and Austin Teachers Association combined. Among its many achievements: minimum foundation laws that set statewide teacher salaries; creation of the Teacher Retirement System of Texas; certification laws; bills to establish maintenance and operation funds for schools; and thousands of other important bills.
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When accounting for the costs (both real costs, such as time taken to select and recruit a replacement, and also opportunity costs, such as lost productivity), some estimates on the cost of employee turnover in for-profit organizations range from 30% to 200% of the employees' salary.
El Paso. Median income: $55,710 Annual cost of living for homeowner: $38,645 Surplus of income for median middle-class homeowner: $36,504 Annual cost of living for renter: $41,924 Surplus of ...