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Jindal administration hopes to fix flaws in "cash balance" pension plan

The Jindal administration hopes to fix flaws in the new "cash balance" pension plan, while two major retirement systems are trying to get a year's delay in its planned July 1 implementation.  Although Gov. Bobby Jindal opposes any delay, the Louisiana State Employees Retirement System, and the Teachers Retirement System of Louisiana have served legal notice that they will ask the Legislature to approve a resolution suspending the law.  According to sources, Jindal cannot veto such resolutions.  A legal notice has been filed indicating that legislation would be filed in the upcoming 2013 legislative session that addresses the cash balance plan's administration and operation, membership, contributions and eligibility.  The session opens April 8.

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