Lafayette Parish board backs Constitutional Amendment 3 to free funds for teacher pay raises

The Lafayette Parish School Board adopted a resolution supporting Louisiana Constitutional Amendment No. 3, which is scheduled for the May ballot and would consolidate three education-dedicated trust funds into a structure intended to reduce the Teacher Retirement System's unfunded accrued liability and generate recurring capacity for pay raises.

State Representative Josh Carlson told the board the three funds hold roughly $2 billion and currently produce limited recurring distributions (roughly $25 million for K'12 statewide). He said the amendment would apply the $2 billion toward a portion of the statewide retirement debt (about $8 billion total) and thereby reduce the system's recurring contribution needs, freeing funds that could be used to guarantee a permanent teacher pay raise (his office described a floor of $2,250 for teachers and $1,150 for support staff as a statewide minimum if the measure is enacted). Representative Carlson said districts, including Lafayette Parish, would see relief as the state applies funds directly to the retirement system.

Julia Reid, president of the Lafayette Parish Association of Educators, told the board the local association and the state organization support the amendment and urged the board to encourage constituents to vote yes. Board members asked for local figures about Lafayette Parish's share of unfunded liability; staff referenced an approximate $290 million figure for the district's TRSL portion and asked the representative to explain how state action would be delivered (Carlson said the legislature would apply the funds to the retirement system and districts would benefit indirectly through lower recurring contribution pressures).

After discussion and public comment, the board voted to approve resolution 04-026-2174 and to encourage community members to support the amendment in the upcoming election.