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Teacher Pension Debt Hits a Whopping $11.1 Billion
Teacher Pension Debt Hits a Whopping $11.1 Billion
Louisiana’s retirement debt costs the state $1 of every $4 in annual state aid allocated to public schools, according to a report from the state auditor. The report found that pension commitments due to retired teachers totaled 23.9% of state spending on K-12 education in 2019-2020, or $852.5 million. That works out to a little...