UC Faculty Associations support Systemwide Academic Senate's rejection of 2016 Tier Pension Plan.
Santa Cruz Faculty Association (SCFA) and the Council of UC Faculty Associations (CUCFA) vote to back growing opposition by faculty and staff.
On February 10, 2016, the Assembly of the Academic Senate of the University of California adopted the following resolution and sent it to UC President Janet Napolitano:
The Assembly rejects the imposition of the PEPRA cap on the University
of California and the discontinuation of the current pension plan in the
absence of any plan or program to fund or to provide compensating
increases in total remuneration, so as to prevent harming the mission of
the University of California by eroding its ability to recruit and retain
the best faculty.
The Council of UC Faculty Associations, of which the UCSC Faculty Association is a member, strongly supports this resolution and calls on President Napolitano and the UC Regents to reject this disastrous, ill-conceived and unnecessary plan.
In fall 2015, President Napolitano and Governor Jerry Brown, the so-called Committee of Two, engaged in private talks about UC's budget and pension plan. As part of their negotiations, Napolitano agreed to a new "2016 tier" to UC's retirement plan that would limit the amount of covered compensation that can be used in calculating retirement income based on the 2013 Public Employee's Reform Act (PEPRA) legislation ($117,020 in 2016), which was designed to address instability and the high cost of the California Employee's Pension System (CalPERS). In response to Napolitano and Brown's deal, the Regents appointed a Retirement Options Task Force (ROTF) that proposed two plans for a new 2016 tier.
The proposed 2016 tier and adoption of the PEPRA cap would create inferior retirement options for future faculty (who are more likely to be women or under-represented minorities) , create a two-tier retirement system and further undermine total compensation for faculty. The proposals will greatly weaken the University's ability to recruit and retain the top faculty, undermine UC's ability to make the competitive offers necessary to recruit and retain outstanding faculty members, and increase inequities between the UC campuses while doing little to address the unfunded liability of UC Retirement Plan.
In addition, the process that led to the decision to adopt the PEPRA cap and institute a new retirement tier lacked transparency, careful deliberation, and adequate consultation with the Senate.
We continue to collect UC employee signatures in opposition to these proposed changes at: http://www.protectmypension.org/
 The full text of the resolution: http://senate.universityofcalifornia.edu/reports/documents/AssemblyPensionResolution2-10-16.pdf
The full Academic Senate letter and divisional reports on the new retirement plan: http://senate.universityofcalifornia.edu/reports/documents/DH_JN_ROTF_2-12-16.pdf
 For an analysis of the proposals, see Celeste Langan, "Retirement plan impacts entire community," http://www.dailycal.org/2016/02/12/343390/