HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Places » U.S. » Louisiana (Group) » Committee members challen...

Fri Feb 23, 2018, 05:17 AM

Committee members challenge state contributions to retirement plans

Over objections that statewide retirement benefits would be underfunded, a panel approved recommendations Thursday that would lower the amount government agencies, as employers, would have to contribute to their employees’ pension plans.

Usually Public Retirement Systems’ Actuarial Committee meetings are sleepy affairs. Thursday’s gathering in the State Capitol was anything but.

House Retirement Committee Chairman J. Kevin Pearson, R-Slidell, and Louisiana Legislative Auditor Daryl Purpera, both on the seven-member panel, voted “no” on the annual valuations for seven statewide retirement systems. They argued that the higher “rates of return” outlined in the reports may be good for this year’s budget, it’s not enough to fund the system.

Lawmakers are struggling with ways to balance a state budget that is expected to be about $1 billion short of revenues for the fiscal year that begins July 1. Their only choices are to reduce costs, raise revenues or combination of both.

Read more: http://www.theadvocate.com/baton_rouge/news/politics/legislature/article_afd5146c-1839-11e8-a61c-3fd01b164187.html

1 replies, 494 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply Committee members challenge state contributions to retirement plans (Original post)
TexasTowelie Feb 2018 OP
tblue37 Feb 2018 #1

Response to TexasTowelie (Original post)

Fri Feb 23, 2018, 07:17 AM

1. Blame Bobby Jindal and his GOP buddies for LA's budget woes. nt

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread