President Yudof meets with Council of UC Staff Assemblies
President Mark Yudof, in a meeting with representatives from UC’s staff assemblies, stressed the importance of employee input and engagement as he evaluates proposed changes to retirement benefits.
The Post-Employment Benefits Task Force issued its recommendations August 30. The president is now reviewing those recommendations.
“In large measure, (the recommendations) protect all current employees. Your accrued pension benefits are secure and these proposals don’t change that,” Yudof said at a meeting September 2 with the leadership of the UC Council of Staff Assemblies. “Except for contributions into UCRP, what we’re really discussing is what happens for new hires.”
Under the task force proposals, the pension program would remain unchanged for current faculty and staff, but employee contribution levels would rise to 3.5 percent of salary in July 2011 and to 5 percent in July 2012. UC would also pay more, increasing its contribution to 7 percent in 2011 and 10 percent in 2012. The UC Board of Regents will vote on those contribution levels at its September meeting.
Employees who join UC after July 2013, however, could be enrolled in a new pension tier. There are several options on the table for a new pension tier. The task force presented two options, and the president is also considering a third option that was included in a dissenting report from faculty and staff members who were members of the task force work groups. One of the central differences among the three options is how costly each would be for UC and its new employees.
The president said he expects to bring a proposal for a new pension tier to the Board of Regents for discussion in November.
In the meantime, he urged employees to educate themselves about the recommendations and to get involved.
“I need you to seriously engage and tell me what you think would work best,” Yudof said. “You have an opportunity to help shape my recommendations.”
Faculty and staff were instrumental in shaping last year’s furlough program, Yudof said. As painful as the program was, it included components – such as a sliding scale based on employee salary level – that were the direct result of employee feedback.
Learn about the task force recommendations, submit a question or comment, and stay involved at the Future of UC Retirement Benefits website: http://universityofcalifornia.edu/sites/ucrpfuture/.