Although CalPERS doesn't run the UC retirement plan, at one point CalPERS offered long-term care insurance to UC employees. It seemed to some folks to be a good idea at the time and they took out policies. Long-term care policies can be bought from commercial carriers. The problem is that you have to trust that … Continue reading CalPERS Long-Term Care: What Happens Tomorrow?
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
There has always been a question about exactly what is the legal obligation of UC to pay for retiree health care. The position of the university has been that unlike the pension, there is no obligation. Nothing was really promised for sure. It's just a nice thing UC does.Employees of one of the former nuclear … Continue reading Lab Retirees Want Back In on UC Health Plan
If he's worried now, wait 'til he gets his open enrollment package.Chronicle of Higher Ed takes note of UC employee concerns about changes in the UC health plans:The University of California is overhauling its systemwide health-insurance plans to save on costs and better align with the Obama administration's Affordable Care Act, but some employees are … Continue reading Health Plan Change Worries at UC
Jim Chalfant pointed me to the item below about retirees at one of the labs (Livermore) suing UC for not providing what they view as promised retiree health care benefits. They were given a right to sue – which is not the same thing as obtaining a final favorable decision – on appeal. UC has … Continue reading Promises, Promises on UC Retiree Health
For those making retirement contributions to their 403b and 457b plans - and almost every faculty member at UC should be in that category - below is a chart, courtesy of Wells Fargo, to contemplate: [click on the chart to enlarge]You can interpret it on your own. The source is:https://www.wellsfargo.com/downloads/pdf/jump/2012_Elections_Report.pdf
“Gazbee” is how you pronounce GASB, the acronym for the Government Accounting Standards Board. GASB determines accounting standards for public employers, including public pension plans. (It’s equivalent for the private sector is FASB – the Financial Accounting Standards Board which is pronounced – you guessed it – “fazbee.”) From calpensions.com today comes this item:New public … Continue reading The Great Gazbee
The UC Regents Committee on Compliance and Audit met on November 7, 2011 in advance of the full Regents meeting that was originally scheduled for the following week. The full Regents meeting was postponed due to concern about possible violent demonstrations. This blog has been making available audios of the Regents meetings. A link to … Continue reading Audio of the Nov. 7 Regents Committee on Compliance & Audit
We posted audios from the legislature's public pension hearings on December 1. Apparently, according to the State Worker blog of the Sacramento Bee, there will be more hearings to come.Although the special pension committee was supposed to have concluded its work by January, …"This cannot be a two-hearing answer," said Democratic Sen. Gloria Negrete-McLeod, co-chair … Continue reading More pension hearings?
Audio of Dec. 1, 2011 hearing by the legislative Conference Committee on Public Employee Pensions on Gov. Jerry Brown's proposals for state and local public pensions in California. Click on link above. If you don't want to listen to the full four and a half hours, scroll towards the bottom to hear the governor's testimony … Continue reading Audio of Legislative Hearing on Public Pensions