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Tuesday, November 3, 2009

Tuesday, November 3, 2009

Post-Employment Benefits and Senate Vice-Chair at UCSB

I've posted reports on the most recent appearance of UCOP people and issues at UCSB.  They are worth reading. For a few years, UCOP was saying that employees needed to restart contributions to the pension fund in order to secure UC's great "defined benefit" pension.  Now, the Task Force is considering whether to get rid of DB pensions, with various permutations, even as they are still planning to restart contributions.  This would continue UCOP's central achievement this year - pay more, get less - and would eliminate one of the best things about UC employment - some would say now the only good thing, because security in retirement compensates in part for years or even decades of sub-par wages.  Folks should be following these developments carefully.

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