Repeal or litigate SB 294? Wednesday, Jul 30 2014
He put taxpayers in jeopardy
Leges and others are asking why not just leave the “Edmonson Amendment” in SB 294 alone now that Edmonson has said he will not take the extra $55,000 a year in retirement benefits and repeal it during the 2015 Regular Session.
I don’t know how many of the leges who are asking are merely trying to shove this mess under the rug or are sincere in believing that repeal will fix the problem.
Assuming they are sincere, here are the legal and political problems with waiting to repeal SB 294 rather than having the courts declare it unconstitutional:
1. There’s nothing to prevent anyone who qualifies under the provision (We don’t know how many there are.) from exercising that right before it is repealed.
2. Because of provisions in the state constitution and Federal law that protect pension benefits, repeal may not stop someone from taking advantage of the extra benefit.
3. There’s no guarantee the leges will vote to repeal the law, especially if the heat dies down. During the 2014 Session, the leges refused to repeal laws that had already been declared unconstitutional. In other words, this group of leges doesn’t have a good track record of removing bad/unconstitutional laws from the books.
Anything less than litigating the question of constitutionality is a crap shoot with not only the LSPRS, but all of the state pension plans that already have a combined $20 Billion Unfunded Accrued Liability. We taxpayers are on the hook for that money.
We all need to get behind State Treasurer John Kennedy in demanding the board of the LSPRS exercise its fiduciary responsibility to the active and retired member of the system. List of board members here.
1 7:00 am