Indicator 76Retirement Plan Assets and Liabilities, Universitywide, 2001 to 2009
In the early 1990s, the UC Retirement Plan (UCRP) had accumulated so great a surplus that the University suspended employer and employee contributions to it.
The surplus in UCRP has diminished over time and the plan is estimated to have fallen to 90 percent funded level as of July 2009.
In response, the University plans to restart employer and employee contributions to UCRP at the rate of 4 and 2 percent, respectively, beginning in April 2010.
Sustaining a well-funded retirement plan and providing retiree health benefits is a top priority for UC in order to recruit and retain quality faculty and staff. However, as UC pension and retiree health benefit costs continue to increase substantially, sustaining these benefits is increasingly difficult with each passing year. The Task Force on Post-Employment Benefits will present recommendations to President Yudof for assuring market competitive post-employment benefits. For more information, see www.universityofcalifornia.edu/news/ucrpfuture/welcome.html.
Source: UCOP Budget and Capital Resources and UC Financial Management