A recent budget analysis noted the Texas Senate’s voucher bill could affect the fund if it leads students and teachers to leave public schools.

Voters approved a massive property tax cut and several other measures, but refused to raise the mandatory retirement age for judges.

If approved by voters on Nov. 7, the proposal would allocate $3.3 billion to the Teacher Retirement System of Texas, increasing pensions between 2% and 6%.

Lawmakers sacrificed school funding to block school vouchers, but the issue could be debated again in a special session. Districts will get new funds for school safety, though Uvalde families were ultimately left disappointed with inaction on gun restrictions.

The Senate education committee has drastically changed House Bill 100 after Gov. Greg Abbott signaled he would call a special session if a voucher-like program didn’t pass.

The proposed raise would be the first time in nearly 20 years that some retirees would get a cost-of-living adjustment.

A bill passed by the Texas House on Wednesday would also help schools rehire retired teachers and offer other incentives in an effort to fight the state’s teacher shortage.

The Teacher Retirement System of Texas was following a new state law targeting investment firms that seek to invest in companies that don’t worsen climate change.

The measure would allow for a one-time payment of up to $2,400 for retired teachers, counselors and other school staff.

On Tuesday, the Senate passed Senate Bill 7, which would provide retired teachers, counselors and school staff a one-time payment of up to $2,400 through the Teacher Retirement System of Texas.