BATON ROUGE (AP) — Amid opposition from Gov. John Bel Edwards, Louisiana’s state worker retirement system is shelving its bid to create a new pension plan for future rank-and-file employees that would incorporate a 401(k)-style investment account.
Maris LeBlanc, deputy director and chief operating officer for the Louisiana State Employees’ Retirement System, said Monday that the system known as LASERS won’t continue to push the legislation , which awaits debate on the Senate floor after advancing through two Senate committees.
“We will not pursue (the bill),” she said.
Efforts to pass the measure seemed futile. Edwards spokesman Richard Carbo said the Democratic governor ...