Brief Is a Cash Balance Plan the Right Choice for Louisiana State Employees?
Owen Haaga, Richard W. Johnson, Benjamin G. Southgate
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This brief, drawn from a longer report, shows how state and local government employees in Louisiana would likely fare in a cash balance retirement plan that was enacted by the state legislature but invalidated by the courts. Results show that a slight majority of state employees would do worse in the cash balance plan than the existing traditional defined benefit plan. However, about three-fourths would fare better under an alternative reform that extends Social Security to state employees and provides a smaller cash balance plan.
Research Areas Wealth and financial well-being Children and youth Aging and retirement
Tags Employment Economic well-being Pensions Wages and nonwage compensation Retirement Retirement policy
Policy Centers Income and Benefits Policy Center