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.