News - State
La. House To Consider $25 Million Retirement Cost Hike
Posted: Jun 2, 2011 9:29 AM by Lauren Wilson & AP
Updated: Jun 2, 2011 9:29 AM
BATON ROUGE, La. (AP) - The Louisiana House is considering
whether to raise retirement costs for state employees, a move that would lower take-home pay but give state coffers an extra $25 million a year.
The proposal by Republican Rep. Kirk Talbot is scheduled for House debate Thursday. Gov. Bobby Jindal is pushing the idea to plug gaps in the state budget.
The bill would increase the percentage of pay that workers in in the Louisiana State Employees' Retirement System contribute to retirement by 3 percent. It wouldn't apply to employees in hazardous lines of duty, like prison guards.
Supporters say the state's share of retirement costs has grown over the last 20 years and employees should contribute more to their benefits. Critics say state employees shouldn't be forced to take pay cuts to solve state budget problems.
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