Given the state budgetary uncertainties and pressures - combined with the uncertainties and pressures from you-know-where - UC is looking for cash. According to the agenda for the UCRS advisory board, $700 million that would otherwise have gone from the STIP fund to UCRS, won't be going. From the agenda for April 30:
Manager John Monroe and Segal Actuary Todd Tauzer will provide details on an item going before the Regents on May 14, 2025. This item requests authorization for the President of the University to (1) maintain the current University/employer contribution rate to the University of California Retirement Plan (UCRP or Plan) for fiscal year (FY) 2025-26, and (2) modify the previously approved action to no longer transfer $700 million from the Short Term Investment Pool (STIP) to the Campus and Medical Centers (C/MC) segment of UCRP for fiscal year (FY) 2025-26.
Maintaining the current University contribution rate at 14.5 percent of payroll for FY 2025-26 and not transferring from STIP to UCRP the previously approved amount of $700 million for FY 2025-26 is a component of the overall strategic plan to help address the University’s budget issues. It will help provide budgetary relief for campuses and medical centers in a time of significant State and Federal budget cuts...
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