![Bills To Pay Down State Retirement Debt Stall](http://townsquare.media/site/36/files/2012/11/Louisiana-State-Capitol-Photo-by-Chris-GraythenGetty-Images.jpg?w=980&q=75)
Bills To Pay Down State Retirement Debt Stall
BATON ROUGE, La. (AP) — Lawmakers on the House Retirement Committee deadlocked on a proposal that would steer more money to retirement debt by taking dollars from an account used to pay cost-of-living increases to retired state workers.
The committee voted 5-5 Thursday for the proposal, stalling it.
After the vote, Rep. Kevin Pearson, chairman of the committee, shelved similar proposals for the retirement systems for teachers and state police. It was unclear if he would seek to later revive the measures.
At issue is how to shrink the multibillion-dollar debt of the statewide retirement systems, while also addressing inflationary costs for retirees.
Pearson says the state needs to cut the systems' debt to ensure their financial viability for retirees. Opponents say the bills would unfairly harm retirees who weren't responsible for building the debt.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
More From News Talk 96.5 KPEL
![Truck Crashes Through Louisiana Convenience Store, Injuries Unknown](http://townsquare.media/site/36/files/2024/07/attachment-451428443_875361657961063_9009058308210370374_n.jpg?w=980&q=75)
![Lafayette Police Seek Public’s Help in Identifying iPad Theft Suspect](http://townsquare.media/site/36/files/2024/07/attachment-Untitled-design-2024-07-15T194605.280.jpg?w=980&q=75)
![Alleged Donald Trump Shooter Spotted Nearly 30 Minutes Before Shots Fired](http://townsquare.media/site/36/files/2024/07/attachment-GettyImages-2161431349.jpg?w=980&q=75)
![WATCH: Would This Viral ‘Texas Gumbo’ Pass a South Louisiana Inspection?](http://townsquare.media/site/36/files/2023/12/attachment-Texas-Gumbo-Pepper-Belly-Pete.jpg?w=980&q=75)
![Donald Trump Has Made His Vice Presidential Pick](http://townsquare.media/site/36/files/2024/07/attachment-GettyImages-2159730000.jpg?w=980&q=75)
![CHECK IT OUT: You Can Rent This Awesome Tower in New Iberia, Louisiana](http://townsquare.media/site/36/files/2024/07/attachment-new-iberia-airbnb-2.jpg?w=980&q=75)
![Man Wins $100,000 With Lottery Strategy From Watching ‘Lottery Changed My Life’](http://townsquare.media/site/33/files/2022/04/attachment-giorgio-trovato-BRl69uNXr7g-unsplash.jpg?w=980&q=75)
![Louisiana to be Prominently Featured at Republican National Convention](http://townsquare.media/site/36/files/2024/07/attachment-RNC-LOGO.jpg?w=980&q=75)
![Earthquake Centered Near New York City Rattles Northeast](http://townsquare.media/site/36/files/2018/07/E4J7DD.jpg?w=980&q=75)