Monday, April 1, 2019

Pension glitch

The UC Retirement Administration Service Center RASC) has received multiple calls this morning from retirees reporting that they have not received their pension direct deposit for April 1. RASC is aware of the problem and is researching the cause and solution. 

Update: RASC has just received confirmation that Mellon bank will post 72,000+ UCRP payments today (April 1, same day, by close of business). Payments for 1000 retirees who are part of the 415(m) Restoration Plan and those with reciprocity with CALPERS (PERS Plus 5 plan) will post tomorrow. RASC is working on a statement to post on the RASC website and the phone lines. There were no issues with the 2,300 paper checks which were mailed Friday.

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