Information about the Restart of UCRP Contributions
For several years the University has been providing information about the critical need to restart contributions to the UC Retirement Plan (UCRP), from both UC as an employer and from employees, in order to ensure the long-term financial health of the plan.
This is a reminder that contributions are about to begin. Faculty and staff in UCRP will begin making contributions with May earnings which will be reflected in paychecks beginning May 12, 2010, if you are on a bi-weekly pay schedule, and June 1, 2010, if you are paid on a monthly basis. Contributions for represented employees are subject to collective bargaining.
As previously announced, employee contributions will initially be the amount that you have been putting into the Defined Contribution Plan (DC Plan) which is about 2% - 4% of pay, depending on your salary. There will be no change in your take-home pay in the first year of contributions (contribution levels for both UC and employees are expected to increase over time). UC’s employer contributions will begin at 4%.
Please take a moment to read about the restart in the latest issue of "Our University" newsletter, which is available in Related Information, and watch for more information about UCRP contributions in upcoming issues. There is also a wealth of information at the "Future of UC Retirement Benefits" website. We encourage you to visit the site regularly for updates and other important information.
If you have questions, campus employees may contact Campus Human Resources, Benefit Services at extension 4-0830, and Health System employees may call Healthcare Human Resources Benefits at extension 4-0500.
Campus Human Resources, Benefits Services
Phone: (310) 794-0830 | Fax: (310) 794-0835