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LAE Applauds Legislature for Approving Cost-of-Living Adjustment for State Retirees

BATON ROUGE, LA – May 19, 2016 - Leaders of the LAE applaud the Louisiana Legislature for granting a cost-of-living adjustment (COLA) to current retirees of the Louisiana public school system.

“We commend the Louisiana Senate and House of Representatives for unanimously approving this modest increase that will have an impact on the financial stability of our state’s retired public servants,” said LAE President Debbie Meaux. “A special thanks goes out to Governor Edwards for signing the bill into law.”

Governor Edwards signed Senate Bill 2 into law on May 19, which will initiate an average increase of about $30 a month in pension pay for members of state retirement systems including the Teachers’ Retirement System of Louisiana (TRSL) and the Louisiana School Employees’ Retirement System (LSERS). The increase becomes effective the first of July; future COLAs will be determined based upon available funds.

“It is crucial that we continue to acknowledge the work of our retired teachers and school employees by keeping their retirement pay aligned to the costs of living here in Louisiana,” Meaux said. “We hope lawmakers agree and make the funding of COLAs a priority in future legislative sessions.”

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