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. Read more…