UC Regents Approve Important UC Retirement Plan Changes

With this newly approved model, UC is contributing more into employee retirement and it will not cost employees a thing!

The Board of Regents envisions that UCRP will be 100% funded by 2048, which is 8 years sooner than previously calculated. This increase in funding is the result of increasing UC's employers contributions and annual transfers from the Short Term Investment Pool (STIP) into UCRP. 

Specifically, the approved plan increases the University/employer contributions to the UCRP by 0.5% per year, from 14% to 18% of payroll, and transfers $3 billion to UCRP from the Short Term Investment Pool (STIP) over time.

                                                                                                                             -- UCNet

Read the full article here.