LA Retirement System Wants To Cut State’s Contribution
The Louisiana State Employees Retirement System wants a change in state law that will reduce state government's pension system contribution by $40 million.
LASERS Deputy Director Maris LeBlanc said the system's board of trustees will ask the Louisiana Legislature to change the calculation method that determines employer payments.
The change would end up lowering the portion of payroll that the state would contribute in the fiscal year that begins July 1.
Those payments along with employee contributions cover projected costs of future benefits of some 55,000 current employees