Reworked pension for future Louisiana state workers shelved
BATON ROUGE (AP) - Louisiana's state worker retirement system is shelving its effort to create a new pension plan for future rank-and-file employees, amid opposition from the governor.
Maris LeBlanc is the chief operating officer for the Louisiana State Employees' Retirement System. She said Monday that the system won't continue to push the legislation , which awaits debate on the Senate floor.
The proposal would create a hybrid pension with a 401(k)-style investment account feature and push back the retirement age for rank-and-file state workers hired starting in 2020.
Supporters say the change would lessen pension debt and give a more portable benefit to workers who often leave before they reach retirement.
Gov. John Bel Edwards opposes the measure, along with unions that say it would lessen employee benefits.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Louisianans can now register for $1M vaccine lottery; click here for details
BREAKING: Police investigate deadly shooting on Monet Drive
Audit of LWC reveals improper payments made to deceased individuals
LSU requesting COVID vaccine mandate
LSU students share mixed feelings about potential vaccine mandate