Amendment 3 had 457,370 votes for and 341,743 votes against. It would restrict future benefit provisions given through the four state retirement systems covering teachers, school employees, state police and state employees. The amendment requires that funding for additional benefits be identified at the time the benefits are created and that the funding be sufficient to pay off those benefits within 10 years.Amendment 3 had the support of the LASERS Board of Trustees, and had gained endorsements from the editorial boards of many Louisiana newspapers.
Monday, October 22, 2007
Voters approve Amendment 3
Voters approved an amendment to the Louisiana constitution restricting the legislature's ability to expand or create new state retirement benefits.