Sept. 14-16 Regents meeting: Board to vote on UCRP contribution rates
As part of a strategy to ensure long-term financial stability for UC’s Retirement Plan, the University of California Board of Regents will vote Sept. 16 on a proposal to increase pension contributions. If Regents agree, employees would begin paying about 3.5 percent of annual pay in July 2011. The amount would rise to 5 percent in July 2012. UC would pay 7 percent in 2011 and 10 percent in 2012.
Visit the Future of UC Retirement Benefits website for more details: http://universityofcalifornia.edu/sites/ucrpfuture/.