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Teacher Pension Woes - KTBS.com - Shreveport, LA News, Weather and Sports

Teacher Pension Woes

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Teacher pension funds are one of the biggest financial problems across Louisiana, and there is no easy fix for the crisis.

"First of all our expenses are increasing yearly but our MFP dollars and income coming in is very flat," said Academic Advisor for Caddo Schools Keith Burton, 

The Caddo Parish School Board is trying to repair the budget to keep up with increasing costs for their retirement system that is supposed to finance millions of dollars in  funding  for  retired teachers and school system employees.

"The two biggest retirement systems we pay into are teacher retirement systems and Louisiana School Retirement Systems, both of them are going up. Teachers are going up from 27% to 28%.   That is going to equate to a couple million dollars for us," said Finance Director Caddo Schools, Jim Lee 

While school employees hope to see an increase in their pension checks, more money must come from the state; the school district; school employees or all three.
However, the district has not yet rolled out their budget plan for next school year.

 

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