State retirement remains broken
In the early weeks leading up to the 2012 Legislative Session, state lawmakers were inundated with phone calls and correspondence regarding Gov. Jindal’s education reform initiative. But soon, legislators began hearing even stronger reactions regarding reforms being brought by the administration in an attempt to shore up funding for Louisiana’s retirement systems.
Currently, less than half of the state’s overall long-term retirement liabilities of $51.4 billion (pensions and healthcare) are funded.