Posted: Dec 9, 2013 11:37 AM
Updated: Dec 9, 2013 12:15 PM
Source: Associated Press
BATON ROUGE - Retired state workers could see an increase in their pension checks for the first time in five years.
The four statewide retirement boards are preparing to ask the legislature to approve a cost of living increase for tens of thousands of retirees over the age of 60.
That includes retired teachers, state workers, and school system employees.
The increases likely would be between 1.5 percent and 2 percent.
The increase would require approval by a two-thirds vote of lawmakers in the legislative session that begins in March.
All four statewide systems have registered better-than-expected investment earnings, allowing some money to be put into savings accounts which fund the raises.