As we have been posting, there is an inaccurate and misleading sentence
in Regents Item F2 on the agenda for the Regents meeting that is scheduled for later today. Despite our numerous alerts, it has not been corrected. Item F2 effectively
commits the Regents - without discussion or analysis - to offer a
defined-contribution-only (DC-only) pension option to new hires. There
is supposed to be a committee established by UC president Napolitano
considering pension options. It has made no decisions. Unless the intent
of Item F2 was to preclude appropriate consideration of DC-only by that
committee, the item needed to be amended and reference to the DC-only
option removed.
It appears that high
officials in UCOP have given silent consent to an undermining of the
president's pension committee and are seeking tacit approval of a
pension option via an obscure sentence in a resolution ostensibly
dealing only with pension funding. Of course, we won't know for sure until the pension matter is finally decided, presumably some time in winter. But if there is a DC-only option for new hires, you'll know what happened.
If you haven't followed our prior posts on this matter, here are the links:
http://uclafacultyassociation.blogspot.com/2015/11/regents-pension-funding-item-short.html
http://uclafacultyassociation.blogspot.com/2015/11/history-of-pension-preemption-sentence.html
http://uclafacultyassociation.blogspot.com/2015/11/less-than-week-left-to-correct.html
No comments:
Post a Comment