Posts Tagged ‘Pension Reform’
A study of the 100 largest public pension plans in the U.S. highlights Louisiana’s pension fund troubles.
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.
Potential conflicts and a growing interest in hedge funds have some eyeing Louisiana’s public retirement systems with renewed skepticism.
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.