Retirement bill delayed

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The state Senate Retirement Committee delayed action Monday on legislation attempt to dedicate some new state funds to the eradication of state pension system debts.

Senate Bill 17 sponsored by state Sen. Elbert Guillory would dedicate 2 percent of state revenues over those collected last fiscal year to reduction of the long-term liabilities of the retirement systems.

Guillory, D-Opelousas, said he plans to bring the legislation back up in two weeks.

In the interim, a special committee will review potential resources that can be used for the purpose. The special committee will include representatives of the governor, treasurer and legislative retirement and budget committees.

If there’s no resolution, Guillory said he is going to ask the committee to advance his legislation.

“We have kicked this can down the road too many times,” Guillory said.