Patrick Vetoes Pension Hikes

I was very surprised to see that Governor Deval Patrick vetoed state pension hikes.

Gov. Deval Patrick has vetoed a pension increase for retired teachers and state workers that could have cost the state more than $3 billion over 20 years.

The measure would have boosted benefits by $120 annually at a time of rapidly rising prices for life’s staples.

The Democratic governor, who had at first supported the proposal, said in a message written to the Legislature to explain his veto that he was concerned about adding costs to the state’s already unfunded retirement liability.

Patrick had suggested that the cost-of-living increase be restricted to retirees with pensions less than $40,000.

The Massachusetts Taxpayers Foundation estimated the measure could have cost as much as $3.5 billion by 2026. President Michael Widmer called the veto “the responsible course.”

This was certainly a smart decision by Patrick, but will the Legislature override his veto?

Aaron Margolis is a life long resident of the Bay State, and works at an architectural firm north of Boston. Aaron has a Master of Architecture Degree from Boston Architectural College and is currently in the process of becoming of a Registered Architect.