Lawmakers reject pension check increase for state retirees
BATON ROUGE - An effort to give retired state employees and teachers a cost-of-living increase in their pension checks has stalled.
The House Retirement Committee deadlocked in a 6-6 vote Thursday on the proposal by Rep. Sam Jones, a Democrat from Franklin, effectively killing the 1.5 percent cost-of-living adjustment.
Jones described escalating expenses for retirees, particularly double-digit increases in the state health insurance program.
Gov. Bobby Jindal's administration opposed the pension hike.
Ben Huxen, with the Division of Administration, said the bill would violate a law enacted last year to strengthen retirement plan finances. He said it could weaken Louisiana's standing with credit rating agencies.
The $350 million cost would have come from the retirement systems' excess investment earnings, earmarked for cost-of-living increases.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Popeyes restaurants running out of chicken sandwiches amid popular internet debate
Daycare under investigation after child found wandering near roadway
Vehicle burglaries around pricey Baton Rouge neighborhood concerning residents
Capitol prepares for services honoring Gov. Kathleen Blanco
Roof ripped from building in Central amid storms Wednesday