Modifications were made of the plan to establish a "captive" insurance company for UC liabilities. Apparently, a separate entity is being created just for medical malpractice insurance.
The UC mortgage assistance plan used sh for faculty recruitment is being extended to the Hastings Law School which the Regents administer.
A report on UCRP funding was made. Following that report, and in response to CalPERS moving (gradually) to a 6.5% assumed rate of return, there was discussion of whether the UC rate of 7.25% (recently cut from 7.5%) should be further lowered. It appears - based on the discussion that ensued - that UCOP et al are planning for another cut to 7%. There are two things to note. First, as you lower the assumed rate, the estimated amount that must be contributed to get to 100% funding goes up. So there is a potential budgetary impact. Second, by itself the assumed rate doesn't change what will actually be earned over the future. Whatever will be, will be. (Blog readers will recall that at the September meetings an off-hand remark was made by Chief Investment Officer Bachher about a 6%-ish rate being reasonable.)
Various big buck executive pay decisions were endorsed.
President Napolitano reported on various recognitions and awards.
The discussion of lowering the assumed pension earnings rate is below:
You can hear the full audio at the link below: