Reasons to Worry?
Potential conflicts and a growing interest in hedge funds have some eyeing Louisiana’s public retirement systems with renewed skepticism.
The Case for Pension Reform
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.
A Work in Progress
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.
The Truth About Cash Balance Pension Plans
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.
Special Report: Legacy of a Loophole
A retire-rehire program for teachers was approved by lawmakers 10 years ago, but today more than half of all participants are non-educators, while annual pension payouts are nearing $250 million
Commentary: Police Pension Funds Blown on Bad Investments, Taxpayers Stuck With Bill
MPERS gambled with public money, and lost. If this were a private company, these disastrous mistakes would surely result in bankruptcy.
Research: Looming Pension Crisis Ignored
The Pelican Institute’s latest research compares Louisiana’s pension crisis Wisconsin’s. Despite less coverage, Louisiana’s situation is far worse, and Bobby Jindal’s plan is nowhere near enough to make a dent in the unfunded liabilities.
Jindal’s Call for Increased Pension Contributions Could Alleviate Future Budget Woes
Lawmakers in both parties have been critical of Gov. Bobby Jindal’s proposal to increase state employee contributions to the pension plan. In reality, his plan is quite restrained in comparison to other states and some supporters argue that should go even further.
City Business Op-Ed: Government Pensions Taking Toll on Louisiana’s Financial Stability
“While the $1.6 billion shortfall is a legitimate concern, a greater danger lurks beneath the surface and eventually could dwarf our current challenges.”
Commentary: California Remains on Course for Economic Disaster
It does not take an economist to explain how union and bureaucrat-backed pension plans are killing California.