By the logic of his own statement, it turns out that state Rep. Sam Jones hates the people of Louisiana. And perhaps even emulating Gov. Bobby Jindal in the antipathy of which he accuses the governor, neither of which lead to good policy-making in the area of pensions.
The current law passed last year attempted to shore up in aggregate the financial health of the systems, rated among the poorest of the states, by permitting pension increases only when return on the year ending a year before the increase was sufficiently good and its size dependent upon inflation and the degree of underfunding still present. One part of the bill, added to the original, also made amortization schedule changes that also could improve system health. Another addition delayed the guaranteed increase for a year, which Jindal indicated was acceptable.