RESET: Pension Reform
Louisiana should improve the state pension system to reduce the risk of increasing debt, better serve the state’s workforce recruitment needs and provide a more competitive system for employees.
Resource Category: Retirement
RESET: State Pension System Redesigns
2021 Regular Session Policy Priority: Adopt a more portable hybrid system for new employees combining a traditional defined benefit plan with a defined contribution plan, such as proposed by the Louisiana State Employees Retirement System (LASERS). Adopt a better costof-living methodology and a higher retirement age.
RESET: Pension
Louisiana should improve the state pension system to reduce the risk of increasing debt, better serve the state’s workforce recruitment needs and provide a more competitive system for employees.
An Opportunity for Retirement Reform
The Louisiana State Employees Retirement System, or LASERS, is proposing a Hybrid Retirement Plan for new state employees hired in 2020 and beyond. This plan would be an improvement for employees, especially those who spend only a part of their career in state government.
PAR Guide to State Budget Crisis
Louisiana is facing its toughest state budget challenge since the 1980s oil industry depression. Required by law to construct a balanced budget, the Legislature is seeking ways to close a $1.6 billion gap between expected general fund revenue and the initial estimate for spending in the 2016 fiscal year.
2014 Legislative Session Wrap-Up
The 2014 legislative session ended with a state budget balanced conveniently with contrived and borrowed revenue and the further depletion of trust fund resources. PAR reviews the poor fiscal practices and worthy accomplishments of the spring lawmaking period.
PAR COLA’s Policy Brief
A PAR review of Act 399 and cost-of-living adjustments (PDF Version) During the 2014 session the Legislature made changes in the way cost-of-living adjustments (COLAs) are granted for retirees of the four major state retirement systems. Act 399 (House Bill 1225) by Rep. Joel Robideaux and Sen. Elbert Guillory sets conditions on how and when COLAs […]