The amendment would authorize the legislature to provide for cost-of-living adjustments (COLA) for certain annuitants, who meet criteria provided by law, of the Teacher Retirement System of Texas. The amendment also authorizes the legislature to allocate money from the general fund to pay for the adjustment. Money appropriated by the state legislature for the amendment's purpose would be excluded from the state's appropriation limit.

The state legislature also passed Senate Bill (SB 10), the implementing legislation, during the 2023 regular legislative session. SB 10 would authorize a one-time cost-of-living adjustment (COLA) payable to annuitants receiving a monthly death or retirement benefit annuity and one-time payment for certain annuitants of the Teacher Retirement System of Texas (TRS).