Louisiana school employee pension debt plan advances

Tuesday, March 18, 2014

A state Senate panel advanced legislation Monday aimed at helping parish school boards struggling with school employee pension costs.

The Retirement Committee voted to alter the payment schedule set for eradication of the Louisiana School Employees Retirement System’s long-term debt.

The change, in Senate Bill 14, would re-amortize $905.69 million on a level payment basis over 30 years so school boards would not be facing major payment spikes down the road.

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