Some 130,000
retired state employees and teachers could get a bump in their pension checks
in July after all.
The only stumbling
block could be a veto by Gov. Bobby Jindal.
In a last minute
move, the Legislature reversed course and agreed to the 1.5 percent
cost-of-living adjustment this year instead of next.
The reason: state
Rep. Jack Montoucet.
The Crowley Democrat
refused to bring up legislation he sponsored that would generate $100 million
to help fill the state budget hole, holding out for reconsideration of the COLA
vote.
“Jack said ‘I’m not
leaving you without a COLA for those retirees,” state Rep. Sam Jones, sponsor
of House Bill 42 which would provide an average $30 increase in retiree pension
checks.
With budget
pressure, House and Senate leaders agreed to let their members rescind an
earlier vote on HB42 which would have delayed the COLA until 2016.
Montoucet proceeded
with his revenue-raising measure.
Earlier in the
afternoon, Jones had begrudgingly accepted the Senate rewrite of legislation in
the face of Senate opposition and a potential Jindal veto. And the House agreed
to go along.
The Senate
version of the bill also added provisions aimed at shorting up the
finances of the state’s four pension systems - state employees, teachers,
school employees and State Police.
“It’s not the one I
want. It is what it is,” the Franklin Democrat said, in regard to the COLA
delay. He said other Senate changes are good for the pension systems.
“It’s the best we
could do,” Jones said.
Money to cover the
average $30 a month COLA is special accounts set up for the purpose in all four
retirement systems.
Jones said the
retirees are struggling with escalating costs of state health insurance.
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