Tuesday, May 17, 2011

House Money Panel Removes Provision for Proposed 3% Employee Pension Contribution Increase from Budget Bill - by Robyn Ekings

The House Appropriations Committee today put its signature on the state’s budget bill for the 2011-12 fiscal year. Before sending the spending blueprint on to the full House, committee members made a series of changes in the plan, including removing language detailing a proposal by the administration to increase contributions for members of the Louisiana State Employees’ Retirement System (LASERS) by three percent. The executive budget had estimated that the increase would net the state an additional $24.6 million.

A separate bill calling for the benefit jump (HB 479) will come before the House Retirement Committee on Thursday. The LASERS Board of Trustees has taken a position opposing HB 479 since the bill, as written, raises constitutional issues.

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