Posted: Aug 21, 2012 4:24 PM by AP
BATON ROUGE, La. (AP) - Lawmakers are trying to find ways, despite the state's ongoing budget woes, to boost retirement payments to retired state workers and public schools teachers.
Thousands of those retirees receive benefits at or below the poverty level, the Senate Retirement Committee was told Tuesday.
State senators said they were looking for funding sources for cost of living adjustments. But the committee's chairman, Sen. Elbert Guillory, warned against getting false hope that a COLA benefit was imminent.
The last annual cost of living adjustment for retirees was in 2008.
Sen. Page Cortez of Lafayette suggested lawmakers might consider adding an extra retirement check for retirees, rather than a percentage increase, because it would be cheaper and could be paid for upfront.
Lawmakers plan to continue researching ideas over the next few months.