Pension Cap at Regents

Those who follow this blog will know that a brouhaha developed when certain highly compensated administrators in the UC system pushed for a lifting of a cap on the level of pay considered for pension calculations under IRS rules.

In 1999, the Regents applied for an exemption that would have lifted the cap.  It was approved by IRS in 2007.  But the Regents never implemented the exemption, have indicated they will not do so, and are now threatened with litigation.

Apparently as a result, the Regents have a recommendation on their upcoming agenda to rescind their 1999 action.  The item appears on the agenda of the Committee on Compensation at:
http://www.universityofcalifornia.edu/regents/regmeet/mar12/c3.pdf

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