Share on LinkedInShare on LinkedIn

ARTICLE · 03 JANUARY 2014

Courts Issue Public Pension Decisions

State appeals courts in Louisiana and New Mexico issued decisions this week important to public pension finance.

United StatesEmployment and HR

State appeals courts in Louisiana and New Mexico issued decisions this week important to public pension finance.

A Louisiana appeals court held that state law requires the City of New Orleans to contribute pension funding amounts calculated by the pension system actuary.   According to the court, the City was not at liberty to put in less than the actuary's calculation of normal cost plus an amortization payment of the unfunded liability.  This represents a fiscal challenge for financially-strapped New Orleans says NOLA.com:

Mayor Mitch Landrieu's administration has suffered another setback in its fight over payments to the pension fund for New Orleans firefighters. An appellate court ruled Wednesday (Dec. 18) that the city is indeed on the hook for $17.5 million that the administration failed to pay into the system in 2012.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

See more popular content from