Petition opposing changes to the UC retirement plan
The Davis Faculty Association, via the Council of UC Faculty Associations, is a member of the UC Union Coalition. A Union Coalition petition in opposition to detrimental changes to UC pension benefits is available here:
Please read it and consider joining in the opposition to changes that would harm the quality of the university.
Some background material about this issue:
Following unfortunate developments in the Governor Brown/President Napolitano Committee of Two, the Governor’s budget May revise, and the final State budget, the 2016 Retirement Options Task Force has been working to modify key elements of retirement benefits for faculty and other employees hired after June 30, 2016. The Task Force sent its report to President Napolitano on Dec. 15, 2015. The report will be widely released on January 15.
Although we have not seen the report, the information that is currently available indicates that it will recommend changes that are detrimental to the University and to future employees. In particular, it will concede to the President’s decision in the Committee of Two to impose a lower cap on pensionable income for future employees. This will likely be only partly compensated for by a defined contribution supplemental plan.
Available information also indicates that the report fails to oppose the offering of a full defined contribution plan, which new employees can select rather than the current defined benefits of the UC Retirement Plan.
We have already written about the harm that will be done to the University if these changes are adopted:
By reducing total compensation, these proposals will reduce the ability of UC to recruit and retain top quality faculty and staff.
Please consider objecting to these changes by signing the petition at:
This entry was posted on Thursday, December 17th, 2015 at 7:16 pm and is filed under Calls to Action, Faculty Governance, Faculty Welfare, Future of UC, Pensions, Privatization, State Politics, UC Administration, Working Together. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.