Many of our public pension systems operate outside the laws of reason and are usually motivated more by political interests than practical economics.
Post Tagged with: "Pension Reform"
Louisiana’s public schools put themselves in a precarious position by hiring more teachers and administrative personnel, even while the number of students declined. Generous pension and benefit plans have exacerbated this problem.
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.