GOOD

Governor Deval Patrick last week quietly vetoed a pension increase for retired teachers and state workers that would have boosted benefits by $120 per year, a major stand for a governor to take against unions that helped elect him.

Fiscal watchdogs had warned that the benefit could cost the state more than $3 billion over the next 20 years, but retirees argued that they desperately need a cost-of-living increase as costs for everything from groceries to gas are on the rise.

The governor had been largely supportive of the pension boosts - and was expected to sign the legislation - but requested that the cost-of-living increases be restricted to workers with pensions less than $40,000.
He argued that would make the plan more affordable for the state, while providing pension boosts for those who need it most.