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Louisiana faces rising long-term pension liability burden | Louisiana

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www.thecentersquare.com – By Nolan McKendry | The Center Square – 2024-12-02 13:44:00

SUMMARY: In fiscal 2023, Louisiana’s long-term liabilities rose to $17.2 billion, equal to 6.4% of personal income, indicating a growing financial burden on residents. Adjusted net pension liabilities increased to $9.4 billion or 3.5% of personal income, while direct state debt slightly decreased to $7.8 billion (2.9% of personal income). The state’s pension systems faced challenges due to weaker asset values and declining funding ratios. Legal barriers complicate the management of pension obligations, and despite the rise in liabilities, Louisiana maintains a stable direct debt profile. The AA- issuer default rating reflects its ability to handle fiscal pressures, albeit with ongoing pension challenges.

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News from the South - Louisiana News Feed

18-wheeler crash shuts down portion of I-35 on Southwest Side

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www.youtube.com – KSAT 12 – 2024-12-04 06:33:00

SUMMARY: Drizzly conditions are affecting traffic, particularly on the 35 Northbound at Paulo Alto Road, where an 18-wheeler has caused a shutdown. Alex Gomez reports that road crews are working slowly to clear the scene due to the rain. Traffic on the frontage road has backed up about a mile, and those in the main lanes face similar delays. Drivers are advised to exit at 410 early and use Palo Alto as an alternate route. Overall, the situation is causing significant slowdowns for commuters in the southwest side of the area.

A portion of Interstate 35 on the Southwest Side is closed due to an 18-wheeler crash, likely caused by wet roadways.

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Hecker pleads guilty to rape

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www.youtube.com – WDSU News – 2024-12-03 19:07:14

SUMMARY: Aaron Hebert expressed relief upon learning that Lawrence Hecker pleaded guilty to sexual abuse, describing it as a weight lifted off his shoulders. Hecker, a diagnosed pedophile, was arrested in September 2022, and his case faced delays and sealed records amid accusations of cover-ups by the Archdiocese. Hecker was known for abusing multiple victims and was moved to different parishes. His attorney stated no appeals will be filed, and Hecker, now 93, will spend the rest of his life in prison. Victims feel a sense of justice, and the Archdiocese plans to release sealed records related to the case.

Hecker pleads guilty to rape

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Mega-ammonia project could position Louisiana as clean energy leader | Louisiana

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www.thecentersquare.com – By Nolan McKendry | The Center Square – 2024-12-03 15:17:00

SUMMARY: A proposed $7.5 billion ammonia production facility in Ascension Parish aims to establish Louisiana as a leader in clean energy. The project, led by Clean Hydrogen Works, plans to create the largest ammonia production supply chain, with a 150% increase in global production anticipated over 25 years. The facility will utilize a carbon reduction method that captures carbon internally, releasing none into the atmosphere. Community engagement is prioritized, with job training programs and local partnerships, including with ExxonMobil for CO2 storage. Operations are set to begin in 2029, targeting global markets for energy and industrial applications.

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