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Trial set in lawsuit against state retirement plan

2 years ago Thursday, January 24, 2013 8:20:48 AM CST January 24, 2013 Thursday, January 24 2013 Jan 24, 2013 in News
Source: Associated Press

BATON ROUGE - A Baton Rouge judge is hearing arguments in a lawsuit challenging Gov. Bobby Jindal's 401(k)-style retirement plan for future rank-and-file state workers.

The Retired State Employees Association of Louisiana claims the law is unconstitutional because it didn't get a two-thirds vote in the state House of Representatives.

The trial before Judge William Morvant is Thursday. It's expected to last all day.

The bill created an investment account similar to a 401(k) plan for state employees hired after July 1, 2013, instead of a monthly retirement payment based on salary and years of employment. It's called a "cash balance" retirement plan.

Jindal's office said the governor is confident the measure was constitutionally passed during the last legislative session. House Speaker Chuck Kleckley ruled the bill didn't need a two-thirds vote.

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