UC approves changes to pension & retiree health care
Published: Monday, Dec. 13, 2010 - 5:18 pm
The University of California's governing board of regents took heat from both ends of the political spectrum this afternoon as it voted to change retiree health care and pension benefits for future employees, with some critics saying the new plan is cruel to low-wage workers and others saying it's more generous than the university can afford.
By a 14-3 vote, regents approved a package of reforms designed to help close the $21 billion unfunded liability in UC's retiree health and pension programs. The plan makes retiree health care more expensive for everyone who retires from UC - those who have already retired as well as current and future employees - by gradually reducing the amount the university pays from 89
Read more: http://www.sacbee.com/2010/12/13/3255144/uc-approves-changes-to-pension.html#ixzz183DgdGPQ