The following statement was issued by House Majority Leader D.J. Bettencourt following today's veto by Gov. John Lynch of SB 3, making comprehensive changes to the state retirement system.
"Once again Governor Lynch appears to be in the back pocket of the state's union bosses. There are more than 112,000 reasons why the he continues to come down on the side of big labor--its called campaign contributions. While we can all agree that this legislation wasn't perfect, there was broad and diverse support for these reforms. The legislature took a fair step toward addressing the more than $4B unfunded liability facing the New Hampshire Retirement System but with the stroke of a pen, Governor Lynch has seriously jeopardized the future of that system. Both the House and Senate worked long and hard to find an equitable solution that would spread the sacrifices fairly. It was important to arrive at a compromise would have as little impact as possible on our vested employees. Thanks to the governor, the unfunded liability will now continue to grow."