Louisiana Political News Wire
Senators modify pension revision
by Marsha Shuler - Advocate (excerpt)
The state Senate Finance Committee on Monday adopted substantive changes aimed at making Gov. Bobby Jindal’s state employee retirement system revamp more palatable to legislators and employees.
But opposition remained strong to legislation that would affect, in some way, about 58,000 state employees, including those in higher education .
The panel voted on amendments to: Exempt about 6,000 more state employees from a bill that would raise the retirement age. Reduce from 3 percent to 2 percent an increase in the employees’ contribution and implement it over time. Phase in a change in how benefits are calculated. None of the changes would occur until July 1, 2013.
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