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House Poised to Attack Pension Liabilities with Alternative to Jindal Plan

Lawmakers who have argued for increased employee pension contributions to pay down existing debt, instead of for current budgetary expenses, have an active alternative to the plan favored by Gov. Bobby Jindal.

On Wednesday, the House Retirement Committee voted to send Rep. Kevin Pearson’s (R-Slidell) “Retirement State Systems” legislation (HB 530) to the floor for a vote. Pearson’s bill provides for a one percent across-the-board increase in employee contributions for state workers beginning July 1, 2012, and an additional one percent increase beginning July 1, 2013.

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