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Retirement eating up state funding to Louisiana schools

OCTOBER 25, 2021 | by Editorial | BIZ NEW ORLEANS

AP story, includes “Nearly $1 of every $4 in state aid sent annually to Louisiana’s public schools disappears before it reaches classrooms, siphoned away to pay retirement obligations that cost $853 million a year, according to a new report from the legislative auditor. … The Advocate reports the audit said the Louisiana Legislature might want to consider revamping how the retirement debt for former teachers is handled in a way ‘that could be less burdensome for participating schools.’ …”

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