Vermont governor vetoes pension reform bill, but override likely
By Margarida Correia
Source: Pensions & Investments
Vermont Gov. Phil Scott has vetoed legislation unanimously passed in the House and Senate to reform the state’s pension systems for teachers and state employees.
In a letter to lawmakers on Monday, Mr. Scott rebuked the bill, saying it “does not include enough structural change to solve the enormous unfunded liability problems the state faces.”
He raised concerns that despite adding $250 million in additional taxpayer money, the state in several years “will be faced with the same unsustainable system we have today.”
Read the full article