Mar 19, 2012 8:57 AM by AP
MONROE, La. (AP) - Effective July 1, municipalities' contribution into Louisiana's Police Employees' Retirement System will increase another 4 percent to 31 percent, costing some cities hundreds of thousands.
Monroe city Accounting Director Stacey Haney tells The News-Star the rate increase will cause the city to pay $2.9 million next fiscal year if the police department keeps current staffing levels. For the 2011-12 fiscal year, the city of Monroe has paid $2.2 million into the state's police retirement system.
Monroe Mayor Jamie Mayo said layoffs at the police department have not been an option over the past few years in light of retirement system increases. He's hopeful the city won't need to consider layoffs in the future.
19 hours ago