We have been posting about a potential state ballot initiative allowing California government employers (including UC), to change pension benefit formulas of current employees going forward. We have noted that inclusion of UC is not a Good Thing. Please see prior posts for info.A news item that appeared yesterday about a similar measure that was … Continue reading Trying to Weigh the Court Decision on San Jose Pensions
Readers of this blog will know that an initiative has been filed - which appears to have some serious money behind it for a campaign - that would cover UC's pension and retiree health care programs. In principle, it would be up to the Regents to make any plan revisions the initiative would allow. However, … Continue reading Pension/Retiree Health Initiative that Includes UC Just Keeps Advancing
UC invests in pension and other funds in a broad array of assets including investments in private equity firms. Such firms are exempt from most forms of public disclosure since investments with them are not publicly available. However, there have been attempts to get at their records through UC by demanding the reports that UC … Continue reading UC Prevails in Public Disclosure Case
As blog readers will know, there is currently a potential ballot initiative on public pensions and other retiree benefits (health care) that as written sweeps in UC. We won’t rehash why it would be best if UC was excluded – as it ultimately was from the governor’s pension bill. But let’s just say for purposes … Continue reading If You Don’t Want to Talk to the Piper, Why Not Talk to the Piper’s Paymaster?
We noted in a post yesterday that the LAO was forecasting rosy budget times ahead for the state but nonetheless seemed to want a budget freeze for UC. Today, the news media are full of statements by Gov. Brown warning the legislature not to party and to behave frugally. We also noted in prior posts on … Continue reading Maybe the Regents Finally Got the Attention of the Governor on the UC Pension Issue
Nurses at UCLA Hospital, 1955From the LA Now blog of the LA Times: The University of California reached a tentative contract agreement with unionized nurses at its medical and student-health facilities, averting a one-day walkout that had been scheduled for Wednesday. The four-year agreement still needs to be voted on by the 11,700 UC nurses … Continue reading New Nurse Contract Said to Avert Participation in Nov. 20 Strike
Previous posts on t his blog have noted the filing of an anti-pension initiative, fronted by some mayors, that would include UC along with other state and local plans. We have noted that it would be best if UC were omitted from the initiative on the rationale that the Regents have implemented their own plan … Continue reading Clock is ticking away on chance to get UC out of anti-pension initiative
Prior posts on this blog have noted that there is an anti-pension initiative that has been filed by a group whose front man is San Jose mayor Chuck Reed. The proposition, if it got on the ballot, would cover UC. It would require plans do be drawn up, presumably by the Regents, to deal with … Continue reading Response Would Be a Slender Reed (Pun Intended), But Why Not?
Demonstration in Westwood after previous strikeFrom the LA Times:Members of the union that represents 22,000 service workers and patient care employees at UC campuses and hospitals have voted overwhelmingly to authorize a possible strike in the future if a contract agreement is not reached, officials said Friday. Ninety-six percent of the members of AFSCME 3299 … Continue reading Possible UC strike
Over the past year or so, there have been various scary developments about which we have blogged. Most recently there is the recently-filed anti-pension initiative that sweeps in UC. There is the volatility of state budget because of its heavy dependence on the income tax and the incomes of those in the upper brackets that … Continue reading Scary Thoughts for Halloween