Potential conflicts and a growing interest in hedge funds have some eyeing Louisiana’s public retirement systems with renewed skepticism.
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.
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 Independent Weekly of Lafayette, LA produced an intriguing expose about one of the less scrupulous practices plaguing the public education sector. Entitled “The Revolving Door,” the article exposes how public school administrators, mainly in the Lafayette area, are exploiting retirement benefits intended for teachers. These retirement benefits are designed to be a financial incentive…