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House members approve retirement change 03/05/2012
After procedural battles, a vote reversal on an amendment and conflicting cost estimates, the House on Wednesday night approved legislation that creates a different retirement system for future state and higher education employees.
The first battle was over stripping a Tuesday amendment adopted in a 55-46 vote that added Social Security to the new retirement system outlined in HB61. Adoption of that amendment led Rep. Kevin Pearson, R-Slidell, the author of HB61, to call off debate.
Overnight, many members reversed their Tuesday vote and approved 63-39 an amendment by Rep. Joel Robideaux, R-Lafayette, which stripped the Social Security provision.
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Hurricane Preparedness Sales Tax Holiday 24/04/2012
Louisiana Revised Statute 47:305.58 provides for an annual state sales tax holiday on sales of hurricane-preparedness items or supplies made on the last Saturday and Sunday of each May. During the two-day annual holiday, tax-free purchases are authorized on the first $1,500 of the sales price of each of the following items.
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Education, retirement highlight legislative session starting Monday 3/11/12
BATON ROUGE -- Lawmakers will convene Monday in the Capitol to begin a legislative session to consider what Gov. Bobby Jindal described Friday as "a very aggressive agenda" that includes overhauling the state's education and pension systems and approving a state budget. Lawmakers have filed more than 1,500 bills to consider during the session, which starts at noon and, by law, must end by 6 p.m. on June 4.
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Lawmakers prepare to do battle over pension reform
New Orleans The states retirement costs are going through the roof, according to state officials. But the solution Governor Bobby Jindal is proposing has area lawmakers preparing for a big battle in the legislative session beginning on Monday.
Money is once again the big challenge for the session as the state faces a nearly billion dollar revenue shortfall.
The legislative auditor told me one time at a meeting that we dont have enough money in our current retirement to pay the current retirees, now thats not accounting for anyone that is coming to retire over the next 10 years, 5 years, over the next 20 years, said State Representative Kevin Pearson, R-Slidell.
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Slidell legislators preparing for session.
State Reps. Kevin Pearson and Greg Cromer know when the Legislature convenes March 12, there are several issues that will dominate lawmakers time and effort.
Education, the state retirement system and healthcare will be the main focus of the Legislature, and both Cromer and Pearson will play a big part in them.
Pearson, who chairs the House Retirement Committee, knows the state faces a big problem when it comes to the states four retirement systems, and he said there is not one fix for everything. Currently the state faces an $18.8 billion unfunded liability for state workers. That is, if nothing is not done, there may come a time when the retirement fund runs out and people will not get retirement checks.
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Rep. Kevin Pearson of Slidell pulls bill aimed at assessors’ retirement system
A bill that would have trimmed the amount of local tax money that flows into the retirement system for assessors and their employees was shelved by a House panel Thursday. Rep. Kevin Pearson, R-Slidell, faced opposition from assessors and got a cold reception at the House Retirement Committee, which he chairs, when he proposed House Bill 6, which would have brought assessors' offices in line with other local governments agencies in the way they fund their retirement.
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Education, retirement highlight legislative session starting Monday
BATON ROUGE -- Lawmakers will convene Monday in the Capitol to begin a legislative session to consider what Gov. Bobby Jindal described Friday as "a very aggressive agenda" that includes overhauling the state's education and pension systems and approving a state budget. Lawmakers have filed more than 1,500 bills to consider during the session, which starts at noon and, by law, must end by 6 p.m. on June 4
Click here to read the full story
Lawmakers prepare to do battle over pension reform
New Orleans The states retirement costs are going through the roof, according to state officials. But the solution Governor Bobby Jindal is proposing has area lawmakers preparing for a big battle in the legislative session beginning on Monday.
Money is once again the big challenge for the session as the state faces a nearly billion dollar revenue shortfall.
The legislative auditor told me one time at a meeting that we dont have enough money in our current retirement to pay the current retirees, now thats not accounting for anyone that is coming to retire over the next 10 years, 5 years, over the next 20 years, said State Representative Kevin Pearson, R-Slidell.
Click here to read more
Slidell legislators preparing for session.
State Reps. Kevin Pearson and Greg Cromer know when the Legislature convenes March 12, there are several issues that will dominate lawmakers time and effort.
Education, the state retirement system and healthcare will be the main focus of the Legislature, and both Cromer and Pearson will play a big part in them.
Pearson, who chairs the House Retirement Committee, knows the state faces a big problem when it comes to the states four retirement systems, and he said there is not one fix for everything. Currently the state faces an $18.8 billion unfunded liability for state workers. That is, if nothing is not done, there may come a time when the retirement fund runs out and people will not get retirement checks.
click here to read the full story
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