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May 23, 2012

UC Retirement Plan contributions increasing July 1

Faculty, staff and UC will contribute more to the UC Retirement Plan (UCRP) beginning July 1, 2012.

Rates for faculty and staff will rise to 5 percent of pay, up from roughly 3.5 percent. The university will pay 10 percent of pay, up from 7 percent. Continue reading: UC Retirement Plan contributions increasing July 1

May 16, 2012

Regents clarify provisions for operation of UC Retirement Plan new tier

The UC Board of Regents today (May 16) approved several provisions related to the new tier of the UC Retirement Plan that was originally approved in December 2010. Continue reading: Regents clarify provisions for operation of UC Retirement Plan new tier

May 15, 2012

How does an employee become eligible for UCRP?

There are several ways to become eligible for UCRP:

  • Be hired into a career position for 50 percent time or more for one year or longer
  • Work 1,000 hours in a continuous 12-month period in a limited appointment, a contract position or “noncareer” position
  • Work 750 hours in a continuous 12-month period in a non-Senate instructional unit

November 28, 2011

Regents approve increased pension contributions for 2013

The University of California Board of Regents today (Nov. 28) approved an increase in retirement plan contribution rates for both UC and its employees effective July 2013.

Faculty and staff will contribute 6.5 percent of their pay and UC will contribute 12 percent to the UC Retirement Plan (UCRP) beginning July 1, 2013. Employees currently pay 3.5 percent and UC pays 7 percent. Those rates will increase to 5 and 10 percent respectively on July 1, 2012. Rates for represented employees are subject to collective bargaining. Continue reading: Regents approve increased pension contributions for 2013

October 18, 2011

Regents to consider increased retirement plan contributions for 2013

Current faculty and staff, and the University of California will pay more into the UC Retirement Plan (UCRP) in 2013 under a proposal that the Board of Regents will consider at its November meeting.

UC will ask Regents to raise employee contributions to 6.5 percent of covered salary, effective July 1, 2013.  UC would contribute 12 percent.   Faculty and staff currently pay 3.5 percent while UC pays 7 percent.  Beginning in July 2012, employees will pay 5 percent and UC will pay 10 percent.  Employee rates apply to active members of the retirement plan and are subject to collective bargaining for represented employees. Continue reading: Regents to consider increased retirement plan contributions for 2013