Faculty Association Sends Report on UC Pension to Legislative Committee

The UCLA Faculty Association has submitted a report to the members of the legislative committee studying the governor's proposals for public pensions. (See an earlier blog post.) The cover letter to the committee members is reproduced below. Below that is a link to the report which details the history of the UC pension system.=====To: Members … Continue reading Faculty Association Sends Report on UC Pension to Legislative Committee

Testimony in Sacramento Coming Up on UC Pension

Two UC officials will be testifying tomorrow about the UC pension at a legislative hearing on the governor's public pension proposals.We don't know what the UC reps will be saying. Hopefully, it will be a polite version of "no thanks; we have our own plan."If more info becomes available, we will post it. Meanwhile, the … Continue reading Testimony in Sacramento Coming Up on UC Pension

Regents Expected to Approve Rise in Employee Pension Contributions Today

The Regents at their postponed meeting today (11-28-11) are expected to raise the employee contribution to the pension plan to 6.5% as of 2013-14. See the chart below:The full item is at http://www.universityofcalifornia.edu/regents/regmeet/nov11/f5.pdfThis will not be the last increase for either the employee or the employer contribution. No help from the state in sight. Au … Continue reading Regents Expected to Approve Rise in Employee Pension Contributions Today

Regent Crane Leaves an Unhelpful Message

Departing Regent David Crane, a last-minute appointment to the Board of Regents by Governor Schwarzenegger, would have had his last Regents meeting in November, since he could not get legislative confirmation. But the Regents’ meeting was canceled due to a fear of Occupy-type demonstrations. However, Crane has left behind a missive of sorts – a … Continue reading Regent Crane Leaves an Unhelpful Message

LAOmission

Our previous post deals with the Legislative Analyst's Office (LAO) report on the state budget. Quote from page 41 of the report:"...because the state is not required under current law to contribute additional funds to UC to address its unfunded pension and retiree health liabilities, the forecast assumes no General Fund resources to assist UC … Continue reading LAOmission

UC Budget Proposal for 2012-13 Readied for Regents

President Yudof's UC budget proposal for 2012-13, scheduled for discussion at the Regents on Nov. 17, is now posted. The key links are http://www.universityofcalifornia.edu/regents/regmeet/nov11/f12.pdf and http://www.universityofcalifornia.edu/regents/regmeet/nov11/f11attach.pdf The proposal includes a request for increased “core” funding by 8%. Notably included is a contribution to the UC pension – which the state has not been doing since … Continue reading UC Budget Proposal for 2012-13 Readied for Regents

LAO Report on UC and Other Public Pensions

The Legislative Analyst has just released a report on the governor’s proposal for public pensions. The report states that the “Governor’s Proposal Is a Bold, Excellent Starting Point” and then goes into a detailed analysis. Most of the report is not about UC, although it does note that changing the UC plan might well involve … Continue reading LAO Report on UC and Other Public Pensions

Statement by Academic Senate Task Force on Investments & Retirement on Governor’s Pension Plan

October 31, 2011 ROBERT ANDERSON, CHAIR, ACADEMIC COUNCIL RE: Governor Brown’s Twelve Point Pension Reform Plan Dear Bob Following circulation of the Governor’s Twelve Point Pension Reform Plan, the Senate Task Force on Investments and Retirement (TFIR) discussed the proposed reforms, and prepared the attached document: “TFIR’s Comments in Response to the Governor's Pension Reform … Continue reading Statement by Academic Senate Task Force on Investments & Retirement on Governor’s Pension Plan

Crane Likely to Pick Up on Pension Issue at Next Regents Meeting

Regent David Crane - a last-minute appointee to the Regents by Gov. Schwarzenegger - has been a public pension hawk and has made remarks about collective bargaining that ensured he would not be confirmed. Assuming he attends the November Regents meeting (Crane's last given the non-confirmation), he is likely to say something about the pension … Continue reading Crane Likely to Pick Up on Pension Issue at Next Regents Meeting

Was that Jerry or Casey at the Bat (on pensions)?

Now that it is clear the governor wants UC to be part of his public sector pension proposal, you might be curious about what the Legislative Analyst thinks:LAO calls pension plan excellent start Duane W. Gang, Riverside Press-Enterprise 10/27/11 California’s nonpartisan legislative analyst praised Gov. Jerry Brown’s pension plan Thursday and said it deserves consideration … Continue reading Was that Jerry or Casey at the Bat (on pensions)?