SubscribeThe UC Regents voted Dec. 13 on changes to the university’s retiree health and pension programs. Earned pension benefits of current employees and retirees are protected by law and cannot be revoked or reduced. Current employees, as well as UC, will contribute more to the pension program, and roughly half of current faculty and staff will come under new eligibility rules for retiree health care.
Tag: UCRP
Changes to retiree health, pension programs OK’d
December 14, 2010:
Regents clarify provisions for new retirement-plan tier
May 16, 2012:
BERKELEY —
‘Focus on Your Future’ issue highlights retirement readiness
January 18, 2012:
Coming changes to the UCRP website — designed to help UCRP members more easily assess their retirement readiness — are described in the winter 2012 issue of “Focus on You Future.” Investing issues particular to women are featured as well.
UC launches voluntary phased-retirement program
January 4, 2012:
UC has launched a Phased Retirement Program, which allows employees near the end of their careers to gradually transition into retirement and receive a cash incentive upon retirement. Under the new cost-cutting program, UCRP-vested staff members 55 or older can opt to reduce their work hours by 10 percent or more a year for up to three years. For staff represented by unions, eligibility is subject to collective bargaining.
Regents approve increase in retirement contribution rate
November 29, 2011:
The UC Board of Regents on Nov. 28 approved an increase in retirement-plan contribution rates for both UC and its employees. Effective July 2013, faculty and staff will contribute 6.5 percent of their pay to UCRP, while UC will contribute 12 percent — up from the current rates of 3.5 and 7 percent respectively. Rates for represented employees are subject to collective bargaining.
Fall issue of ‘Focus’: Suggestions for a down market
October 18, 2011:
You’ve cut your spending, shifted priorities and are saving more. Where do you put your first savings dollar? The fall issue of UCRP’s newsletter “Focus on Your Future” suggests a strategy for saving, ideas on how to navigate market volatility, a list of short online financial-education classes and more. (PDF)
UCRP’s ‘Focus on your Future’ features expanded financial-education offerings
July 20, 2011:
The summer 2011 issue of Focus on Your Future, a newsletter on the UC Retirement Savings Program, is available online. The new editions features an expanded roster of financial-education classes, basics on retirement savings, resources for new UC employees, and more.
Higher UCRP contributions to affect paychecks beginning July 20
July 20, 2011:
Faculty and staff will see a change in their next paychecks, as higher employee contributions to the retirement fund kick in. For most employees, contributions are increasing from 2 to 3.5 percent of pay; UC’s contribution increases from 4 percent to 7 percent.
Retirement plan updates from regents, UCOP
July 14, 2011:
The UC Board of Regents on Thursday adopted changes to some of the assumptions used to estimate UC Retirement Plan liabilities and costs. UCOP also reminded university employees that they will see an increased contribution to UCRP in their next paycheck.
UC Retirement Plan contributions increasing July 1
May 24, 2011:
Faculty, staff and the university will contribute more to the UC Retirement Plan beginning July 1. Rates for most faculty and staff will rise to 3.5 percent of pay, up from roughly 2 percent for most employees. UC will pay 7 percent of pay, up from 4 percent.
Seven staffers vie for seats on UC pension advisory board
May 18, 2011:
Seven UC employees are in the running for two open staff seats on the UC Retirement System Advisory Board. An online election to fill the seats will be conducted from May 23 through June 17.
Our University: New newsletter covers pensions, budget and more
March 24, 2011:
The March edition of “Our University”, the UC newsletter for faculty and staff, is now available, with articles on the university budget, funding the UC pension plan, electronic medical records and more.
Regents approve borrowing options to fund pension plan
March 23, 2011:
Chief Financial Officer Peter Taylor explains in a video how the UC Board of Regents’ approval of low-cost borrowing options will reduce the university’s overall pension costs in the coming years.
UC leaders respond to executives’ letter on pension benefits
January 4, 2011:
Responding to a recent controversy, Regents Chairman Russell Gould and University President Mark Yudof issued a statement Tuesday saying that a proposal to increase pensions for certain highly paid UC executives was, in fact, never implemented.
Town halls give staff, faculty a closer look at ‘future of UC retirement benefits’
October 28, 2010:
Proposed changes to UC pension plan get a hearing at two campus forums hosted by Chancellor Birgeneau.
Contributions to UC pension fund set to restart
April 1, 2010:
At the University of California, April 15, 2010 marks a financial watershed: the restart of contributions to the UC Retirement Plan. On that day, the university will begin making regular contributions to the retirement fund. Then, on May 1, employees will follow suit.
