2012 Louisiana Budget - Higher Ed Kept Whole

[GermDawg]

In other news, Governor Jindal has released his proposal for the 2012 Louisiana Budget and is proposing no higher ed "cuts".

http://theadvocate.com/home/2015575-...ut-higher.html

[DellDawg]

Finally.

[detltu]

does this mean no further cuts, i.e the same funding as 2011, or is funding going back to the pre-cuts level?

[GermDawg]

does this mean no further cuts, i.e the same funding as 2011, or is funding going back to the pre-cuts level?

Reads no further cuts, also devil is in the details... it seems like they are alluding to state general transfer will be reduced but schools can make it up by increasing tuition.

[jellidawg]

It is being rumored that he has threatened lawmakers to go along with his change for the retirement system for state employees, or he will cut another 100 million from higher ed.

[JuBru]

It is being rumored that he has threatened lawmakers to go along with his change for the retirement system for state employees, or he will cut another 100 million from higher ed.

That doesn't make sense. Get back at the past by punishing the future?

[FishingBack]

The retirement system changes are quite drastic

[GermDawg]

That doesn't make sense. Get back at the past by punishing the future?

Basically it would reduce the amount the state has to put in, part of that savings goes to filling the Higher Ed budget.

[JuBru]

Basically it would reduces the amount the state has to put in, part of that savings goes to filling the Higher Ed budget.

So there aren't any savings. Either the money go to the retirement system or to higher ed and it can't go to higher ed with the current retirement system setup?

[GermDawg]

So there aren't any savings. Either the money go to the retirement system or to higher ed and it can't go to higher ed with the current retirement system setup?

There are savings, that's why I said PART, if you save 250 million a year use 100 million to fill a gap, you are still in the black 150 million. But basically Jindal is saying if you pass this I'll use it to keep Higher Ed whole, otherwise theirs another 100 mill cut coming.

I haven't read what all is in the retirement changes, besides the mentioned increase from 8% to 11%.

[GermDawg]

Strike that went back and re-read it; basically Higher Ed saves 100 million with the retirement changes, but gets to keep it for budget.

The governor already proposed increasing the amount of money that state workers, including those in higher education, pay toward their retirements. The move would save the state money by decreasing the dollars the state contributes.
Waguespack said the governor wants to allow college campuses to keep the additional $100 million generated in higher education.

[jellidawg]

There are savings, that's why I said PART, if you save 250 million a year use 100 million to fill a gap, you are still in the black 150 million. But basically Jindal is saying if you pass this I'll use it to keep Higher Ed whole, otherwise theirs another 100 mill cut coming.

I haven't read what all is in the retirement changes, besides the mentioned increase from 8% to 11%.

The main sticking point with people I know that work for (or are currently looking at moving to) the state is moving the retirement age from 62 (?) to 67. One of the main draws for a college student to look at working for DOTD was that you could get in forty years, retire and be set.

[Darbonnedawg]

I signed up to retire the day before this came out and am very glad I did. 34 1/2 years is long enough.