Research Report The State of Public Pension Reform in Louisiana
Owen Haaga, Richard W. Johnson, Benjamin G. Southgate
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To address chronic underfunding problems, the Louisiana state legislature replaced the traditional pension for state government employees with a cash balance plan, but the courts invalidated the measure. This report assesses how employees would fare under that reform. Results show that a slight majority would do worse in the cash balance plan than the existing plan, but 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 Aging and retirement Taxes and budgets
Tags Economic well-being Older workers Pensions Wages and nonwage compensation Retirement State and local tax issues Retirement policy
Policy Centers Income and Benefits Policy Center