The law would have affected the money contributed by participating employers into workers’ accounts. At the end of each year, unused money can go back to the employer; under the new legislation, the unspent money would accrue in the accounts and employers could only recollect the funds after a worker had been off the payroll for 18 months.
Mayor Lee said while the legislation aims to solve an important problem, the proposed law “imposes an overly broad approach to solving a discrete set of issues,” according to the veto letter.
The San Francisco Board of Supervisors approved the proposal on a 6-5 vote last week. The veto is Mayor Lee’s first since taking office in Jan. 2011. According to the report, it is unlikely that sponsors of the legislation will be able to acquire eight votes to override the veto.
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