Saturday, January 23, 2016
Senate Meeting on Tier 3 Pension: Jan. 28
The purpose of this meeting is to discuss the new pension plan proposal which is under consideration by President Napolitano. As part of last year’s budget negotiations with Governor Brown, President Napolitano agreed to revise UC pensions under the 2013 agreement.
In spring 2015, the California Legislature, Governor Brown and President Napolitano agreed to the University of California imposing a maximum pension limit of approximately $117,000 for all UC employees hired after July 1, 2016; this limit is consistent with the limit used for all non-UC state employees. This agreement included a stipulation that, in return, the State would provide $436 million dollars over three years to help reduce UC’s unfunded pension liability.
President Napolitano appointed a Retirement Options Task Force (ROTF), with the charge to make recommendations for a supplementary pension benefits plan for UC Faculty and Staff that would complement the new pension plan. The Retirement Options Task Force report is available here; also available is a Guide to reviewing the Report and a Fact Sheet.
We realize that the timeline is short, but in order to provide comments to the Systemwide Academic Senate by February 5, we hope to you are able to attend the Town Hall meeting on Thursday, January 28, from 1:00-3:00 p.m. in Kerckhoff Hall, Grand Salon.
If you are not able to attend, please send your comments directly to Linda Mohr at Mohr@senate.ucla.edu.
NOTE; LIKE MANY OTHER FOLKS WITH TEACHING OBLIGATIONS DURING THE DAY, YOURS TRULY CANNOT ATTEND. WE URGE SOME KIND OF RECORDING BE PRODUCED OF THIS EVENT AND MADE AVAILABLE.