Louisiana Senate OKs retirement change for workers
Thee 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.
By Melinda Deslatte|May 14, 2012 at 12:22 PM
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BATON ROUGE, La. (AP) — Louisiana Gov. Bobby Jindal’s proposal to create a new retirement plan for future rank-and-file state workers advanced Monday to the full Senate for debate, after getting the support of the Senate Retirement Committee.
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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