State pension plan may be delayed by Senate changes
by Marsha Shuler - Advocate (excerpt)

The Senate will be asked to make substantial changes in Gov. Bobby Jindal’s proposed state employee pension system revamp when three key measures come up for a vote this week. Legislation in the pension package would require employees to contribute more and most to work longer with reduced benefits.

State Senate Retirement Committee chairman Elbert Guillory said amendments will be proposed that would delay implementation of the changes until July 1, 2013, and dedicate any money generated from them to paying off the systems’ long-term liabilities — contrary to Jindal’s initial plan to use the money in the state operating budget.

Amendments also will be offered that would exempt more veteran employees from proposals to increase the retirement age that must be reached in order to get full pension benefits, said Guillory, the Senate’s lead sponsor of the Jindal legislative package for pensions.