Lynch veto of SB 3 doesn't kill legislative effort at pension reform

Gov. John Lynch on Wednesday (June 15, 2011) vetoed SB 3, which proposed comprehensive reform of the state pension system.

But that doesn't mean the reform effort is dead.

Lynch said in his veto message that his decision to repeal SB 3, which had been championed by its primary sponsor, Senate Majority Leader Jeb Bradley of Wolfeboro, was based on reforms proposed in HB 2, which is the legislation for the new biennial state budget.

"Given the legislature's stated intent to change this legislation further, and my responsibility to review the legislation in its full and final form, I am vetoing Senate Bill 3 and will assess the legislature's final product," said Lynch.

Lynch noted that members of the ongoing conference committee on crafting a new state budget (contained in both HB 1 and HB 2) have announced that they will consider substantive changes to this legislation, a version of which is already included in HB 2.

Lynch said those changes include addressing recent decisions by the Board of the Retirement System that could impact the budgets of the state and local communities.