Testimony: Louisiana Senate Bill 5’s bonus payment unlikely to be a one-time cost

In Politics by Michael Rae

Members of the Committee: 

Thank you for the opportunity to share our project’s perspective on Senate Bill 5 (SB5) and the potential one-time, lump-sum payment to retirees and beneficiaries of the Louisiana State Employees’ Retirement System (LASERS).

My name is Steven Gassenberger, and I serve as a policy analyst for the Pension Integrity Project at Reason Foundation. Our team conducts quantitative public pension research and offers pro-bono technical assistance to officials and stakeholders aiming to improve pension resiliency and advance retirement security for public servants in a financially responsible way. 

Unlike some of the other bills under consideration, SB5 providing a one-time bonus

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