A House panel on Thursday narrowly approved legislation that would lower some retirement benefits on promises the changes would strengthen the financial health of the Louisiana’s four retirement systems.
The House Retirement Committee voted 6-5 for a heavily amended measure that would alter the benefit plans for people who join the retirement systems after Jan. 1.
The changes included in House Bill 1337 would affect newly hired state employees, teachers, school workers and State Police employees. It would change how the systems calculate the amount of the retirement payments and how old a retiree must be to collect full benefits.
