The IRE website will be unavailable while we complete routine maintenance on Friday, April 16 from 8-10 am CT.
IRE favicon

Shop

Resource ID: #21746
Subject: Pensions
Source: Advocate (Baton Rouge, La.)
Affiliation: 
Date: March 21, 25; June 25,; July 1, 20, 21, 22, 31; December 16, 17, 2004

$0.00

Description

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.

141 Neff Annex   |   Missouri School of Journalism Columbia, MO 65211   |   573-882-2042   |   info@ire.org   |   Privacy Policy
apartmentpenciluserscalendar-fullcrossmenuwarning linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram