| Number | 21746 |
| Subject | Pensions |
| Source | Advocate (Baton Rouge, La.) |
| State | Louisiana |
| Year | 2004 |
| Publication Date | March 21, 25; June 25,; July 1, 20, 21, 22, 31; December 16, 17, 2004 |
| Summary | Penny Roberts investigates the $1 billion retirement fund for the 9,300 full time police officers in 150 departments in Louisiana. The Louisiana Municipal Police Employees' Retirement System took a $200 million hit in the stock market, then spent $20 million on golf courses, then made a $6 million land deal with a non-existant company. Now the fund wants a bailout from taxpayer-funded local police departments, the Louisiana legislature, and the retirees it serves. In Baton Rouge alone, the department's pension costs have risen from $2.1 million to $5.2 million a year. |
| Category | Contest Entry |
| Pages | 32 |
| Keywords | retirement funding;pension;police pension system;pension costs;Municipal Police Employees' Retirement System |
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