Changes in the proposal include raising employee contributions to their retirement by 3% and increasing the retirement age to 67 (see La. Governor Proposes Pension Overhaul). Both were opposed by the LASERS Board of Trustees, New Orleans, The Times-Picayune reports.
Jindal said his plan is necessary to close an $18.5 billion shortfall in the assets in the state’s four retirement systems. However, LASERS Executive Director Cindy Rougeou said LASERS, which is the focus of most of Jindal’s proposed changes, is actuarially sound, according to the news report.
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