Archived entries for FAQ’s

November 8, 2010

Can you explain what is meant by not subsidizing survivor benefits?

Yes. For the proposed new pension tier for future employees, survivor benefit subsidies is one of several modifications to the current pension program that could affect future employees. These future UCRP members would still have the option of providing benefits to their survivors by choosing a reduced pension benefit to cover the cost.

This proposed change, if adopted by the Regents, will not affect the survivor benefits of current UC Retirement Plan members, including faculty, staff and retirees. Read more…

September 9, 2010

Question of the week: Will the new minimum retirement age affect me?

Q: I am a 51 year old with more than 25 years service. My plan was to retire at 55. Will the new minimum retirement age plan affect me?

A:The task force recommendations call for changing the minimum retirement age for employees who join UC after July 2013. No current faculty and staff would be affected by that proposal. It is also important to note that these are recommendations. Regents have not yet taken action on any of the task force recommendations.

August 25, 2010

Q&A: The forum presentation mentioned that current employees with a certain age and years of service could be grandfathered under the current plan and not have a change. The figures quoted were age 40 and 10 years of service. Are these the figures going forward as a recommendation from the task force?

Grandfathering provisions for eligibility for retiree health insurance are among the task force recommendations in order to mitigate the impact of proposed changes on those employees who are near retirement.  The recommended formula for a grandfathering provision is age plus service greater than or equal to 50 for employees with at least five years of service.

August 25, 2010

Q&A: Will people who have already retired lose their benefits? Would it be safer to retire now in order to avoid the risk of losing benefits if retirement is delayed?

UC intends to continue to offer competitive pension and retiree health benefits.  Current employees and retirees have a vested right to their accrued pension benefits and these may not be changed.  UC does reserve the right, however, to change pension benefits prospectively, both for current and future employees and to change retirement health benefits for current and future retirees.

August 24, 2010

Q&A: How will buy-in from the unions work? Do you anticipate it will be difficult?

The University engages with the unions through coalition meetings, and will continue to respond to requests for meetings to discuss these matters. In addition, policy changes are subject to the collective bargaining process for represented employees. Through our Labor Relations office, we will continue to engage the coalition of union leadership in the process.