The complex nature of the retirement system tends to obscure the importance of pension reform. This has contributed to an unfortunate lack of urgency over the years. But while the details can appear daunting, the crux of the matter is simple: Louisiana has promised its retirees more than it can deliver.
By building on existing research from the Louisiana Sentencing Commission and following key principles that have guided successful reforms in Texas and other states, Louisiana policymakers can take the next steps to enhance public safety in the state and control costs borne by taxpayers.
Gov. Bobby Jindal’s proposals to boost employee contributions, alter benefit calculations and increase the official retirement age will soon undergo substantive changes during floor debate in the Upper Chamber.
Critics of Governor Jindal’s proposed “cash balance” pension plan for state employees have made a number of inaccurate claims. The current retirement systems have amassed an astonishing $18.9 billion in unfunded liabilities, but reform opponents defend the status quo with scare tactics while relying on a flawed report from the Legislative Auditor.
The top 10 things you need to know heading into Louisiana’s historic retirement debates. By JEREMY ALFORD Know this: the stakes are high. More than 60,000 state employees would be affected by Gov. Bobby Jindal’s proposed pension changes. And legislators, many still reeling from the drama associated with the governor’s landmark education reforms, are wondering…
Rep. Tony Ligi (R-Metaire) would like for taxpayers to have a seat at the table when public employee unions negotiate with government officials over the size and scope of their compensation and benefit package.
THE PELICAN INSTITUTE is offering up this five-point guide to understanding the Unfunded Accrued Liability, from how it originated and what kind of impact it’s having to national trends and possible solutions.
If you peel back the layers of Louisiana’s tax structure, you’re likely to find confusion, outrage and, more importantly, room for improvement. (Plus, you may discover the reasons why we’re suffering another midyear budget shortfall.)
Louisiana made the cut this year on an exclusive list, but this is not good news for business owners and consumers who have a stake in energy exploration and production.
Concerned citizens are invited to visit the Louisiana Lawsuit Abuse Watch (LLAW) group online where they can select their top choice for the most outrageous lawsuit of the year. But it will be not be easy, Melissa Landry, the group’s executive director, points out.