New Orleans City Councilwoman Stacy Head is proposing changes that would make the city’s main pension plan less generous for new employees and those hired in the past 10 years — changes she said are necessary for the long-term viability of the system.She's on her way out of office this year. This must be the goodbye kiss.
The changes would mean newer employees — who make up almost two-thirds of the workers enrolled in the New Orleans Municipal Employees’ Retirement System, or NOMERS — would accrue benefits at a slower rate and new hires would have to work longer before being vested in the system or becoming eligible for retirement.
The proposal also would either do away with cost-of-living adjustments for all retirees until the system is nearly fully funded or else require the city and employees to kick in extra money to fund those increases.
Wednesday, March 08, 2017
Stacy Head still hates poor people
After all this time, this is still what she's all about.