Retirement Benefits for Future UC Employees
As a result of last year’s 2015 budget agreement with state leaders, the University of California (UC) is developing new retirement benefits for future UC employees (those hired on or after July 1, 2016). A task force, established by UC President Napolitano, has recommended retirement benefit options that are proposed for review and anticipated for presentation to the UC Board of Regents in March 2016. The full report and recommendations are available on the 2016 Retirement Benefits website.
In addition to the materials online, two webinars are scheduled in early February to discuss the recommendations and receive questions and/or comments from interested faculty and staff. UC Executive Vice President/Chief Operating Officer Rachael Nava, who chaired the task force, will host the sessions.
The webinars are scheduled for:
- Monday, February 1 from 2:30 p.m. - 4 p.m.
- Wednesday, February 10 from 1 p.m. - 2:30 p.m.
In addition to the webinars, faculty and staff are encouraged to send in comments via the 2016 Retirement Benefits website.
Some important things to note about the task force's recommendations:
The recommendations are not final decisions. The input received through the webinars and online feedback will be considered before the final proposal is presented to the Regents.
The new retirement benefits will apply only to future UC employees hired on or after July 1, 2016. Retirement benefits for current employees and retirees are not affected.
Retirement benefits for union-represented employees are determined through the collective bargaining process.
The UC Office of the President will provide updates on the 2016 Retirement Benefits website. We encourage you to visit the site to learn more about the retirement options and to provide your feedback.