For the past two years, the Livingston Parish School Board—facing multimillion-dollar deficits—has declared financial exigency, forcing hiring freezes and unpaid workdays for teachers just to balance the budget. Partly to blame are retirement costs, which have swelled by $10 million in four years. The public school system this year will fork over $26 million for
No escape: Generous public pensions are heading down an unsustainable path and each of us will pay the price.
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