BATON ROUGE, La. (AP) — Gov. Bobby Jindal's proposal to create a new retirement plan for future rank-and-file state workers has failed to get final legislative passage.
The House voted 49-43 for the pension bill. It needed 53 votes to pass.
The proposal would create a cheaper investment account similar to a 401(k) plan for state employees hired after July 1, 2013.
Supporters say the new system would help shrink the growth in the costs of pension programs. Opponents say it wouldn't provide enough of a safety net for workers and could discourage people from applying for state jobs.
Lawmakers can bring the measure up for another vote, but the Jindal administration will need votes in both the House and Senate to win final passage.
