Archived entries for UC Retirement Plan (UC Pension)

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 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…

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 20, 2010

Q&A: What is the “normal cost” of the UCRP benefits?

The “normal cost” is defined as the annual cost of a member’s benefits earned over his or her career at UC. Currently, the normal cost of UCRP benefits is about 17% of participants’ “covered earnings.”  Both employees and the University share in paying the cost of the UCRP benefits.