BATON ROUGE, La. (AP) — Gov. Bobby Jindal's push to create a new retirement plan for future rank-and-file state workers narrowly received the support of the Louisiana House on Wednesday, a day after running into trouble there.
The House stripped an amendment, opposed by Jindal, which would have required the workers to also participate in federal Social Security, before approving the bill in a 55-45 vote, giving the measure two votes more than it needed for passage.
As it heads to the Senate for debate, the proposal would create a cheaper investment account similar to a 401(k) plan for state employees hired after July 1, 2013, instead of a monthly retirement payment based on their salaries and years of employment.
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