The
Calpensions website carries a very helpful article with a headline that says it all. Hopefully, it will get the attention of the Regents before they rush into endorsing a pension deal with the governor later this week that has wide reaching implications. The Regents are being asked to endorse a concept - a capped pension with defined contribution options for new hires - before its impact can be analyzed or we can even know the parameters of those options. Pensions are part of total compensation and their structure and amount matters for such issues as recruitment, retention, and retirement incentives. There is no way that the Committee of Two could have explored all of those matters, given the format of their deliberations. In this case, the concept of shared governance and general consultation is more than just a nice thing. It is the only way to flesh out what the implications are of such a proposal. UC is a research university. Shouldn't appropriate research be done before a major revision of pension policy is adopted?
You can find the Calpensions article at
http://calpensions.com/2015/05/18/brown-pension-cap-may-dull-uc-competitive-edge/
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