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Budget Summary FY2017

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Outside Section 43
Data Current as of:  8/9/2016

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Retirement Systems and Pensions Percentage

SECTION 43.   Section 22 of chapter 32 of the General Laws, as so appearing, is hereby amended by striking out, in line 1208, the figure "2" and inserting in place thereof the following figure:- 3.

Veto Explanation:
I am vetoing this section because it weakens the performance standard to which local retirement systems are held in Massachusetts. Legislation should be strengthening, not weakening, the standards to which we hold all boards of publicly-funded retirement systems, so that taxpayers who may ultimately pay the consequences for a system's failure are protected.