Gov. Bobby Jindal pushed the 401K-style retirement plan for future rank-and-file state workers last year. Thursday, a state judge struck it down.
Judge William Morvant called his ruling, “purely procedural.”
He said the law that swaps out monthly retirement payments for a “cash-balance” plan for new hires needed a two-thirds majority to pass since it raises the cost of the retirement plan.
Throughout the hearing Thursday, the opposing sides attacked the credibility of each other’s auditor.