Pension increase for retired state workers signed into law
BATON ROUGE - Monthly pension checks will grow on July 1 for thousands of retired state employees, public school workers and teachers.
Gov. John Bel Edwards signed the cost-of-living increase into law Thursday.
The pension hike, sponsored by Republican Sen. Barrow Peacock, of Shreveport, is tied to adjustments in how the retirement systems pay for raises and administrative costs, aimed at lessening long-term debts.
The governor signed all three bills.
Nearly 125,000 retirees over the age of 60 will see increases, ranging from 1.5 percent for retired state workers and teachers to as much as 4 percent for retired state troopers. The average monthly increase will be about $30.
The increases are estimated to cost $383 million.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Water turned off at apartment building, management company unreachable
Iberville chlorine leak more dangerous than first thought; parish leaders lambaste plant...
Advocates for jailed juveniles protest possible relocation to Angola
Mom arrested in toddler's overdose death will stay jailed without bond
Damaged in 2016 flood, Denham Springs school debuts renovated campus