Author: admin

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    Reflections on Two-Tier Pay Plans

    Byadmin

    The recent majority report of the UC Post-Employment Benefits Task Force (PEB) proposes a two-tier retirement plan and makes long-term projections about the financial implication for the pension plan. (See the earlier post for the majority and minority PEB reports.) Keep in mind that two-tier pay plans have a history of instability. Such plans were introduced in the 1980s when various unions signed concessionary contracts during that era. New hires who were under such contracts were offered lesser pay and benefits than incumbents. However, pressures soon began to arise to remove the perceived inequity as the new hires become a…

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    UC Borrowing Absent a State Budget

    Byadmin

    UC, CSU, community college chiefs plead for quick budget passage (Excerpts) Chancellors say that without a state budget, ‘We are operating with a blindfold on.’ The delay has already forced campuses to borrow money and threatened some students’ enrollment and financial aid. By Larry Gordon, Los Angeles Times August 28, 2010 The leaders of California’s three systems of public higher education made a joint plea Friday for quick passage of the much-delayed state budget, warning of negative consequences on campuses if the deadlock in Sacramento continues much longer… UC and Cal State in effect are lending lower-income students the financial…

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    Post-Employment Benefits Task Force Report Now Available Including Academic Senate Dissent

    Byadmin

    The long-awaited (long delayed?) Post-Employment Benefits Task Force report is now available. (See the earlier posting of a letter from President Yudof anticipating the report’s release.) The report – which is advisory to the president and regents – includes two-tier retirement options for new hires. There is also a “choice” option for current employees to enter the lower-tier (which raises some legal issues). A dissenting report by Academic Senate representatives is also included in the posting. All material can be found at http://www.universityofcalifornia.edu/news/ucrpfuture/emp_task.html

  • California Back to IOUs

    Byadmin

    The California state budget crisis and impasse has triggered a repeat of the issuing of a form of IOUs rather than cash to certain state providers. As a previous post noted, the legislature – by retiming tax withholding – was able to bring in enough cash to stave off the need for IOUs over the past few weeks. But now that temporary remedy is running its course and the state – rather than literally running out of cash – is beginning to ration resources. The “registered warrant” form of IOUs – shown in the picture – is still not slated…

  • University of California Scientists won’t be boycotting Nature

    Byadmin

    Note: See the earlier post on this matter. Aug. 27, 2010, USA Today By Ben Ailes It appears the University of California is no longer contemplating a boycott of the esteemed science journal Nature. In a statement released Wednesday by the University of California and Nature Publishing Group, the entities announced “an agreement to work together to address the current licensing challenges as well as the larger issues of sustainability in the scholarly communication process.” This June there had been rumblings that the massive university system might consider a publishing boycott if Nature’s proposed hike in prices — as much…

  • More Good PR for UC

    Byadmin

    August 26, 2010, NY Times Bay Area edition University to Manage Home Costs of PresidentBy STEVE FAINARUhttp://www.nytimes.com/2010/08/27/us/27bcyudof.html?_r=2&hpw The University of California has appointed an official to manage spending and operations at President Mark G. Yudof’s new private residence, after Mr. Yudof ran up nearly $700,000 in expenses and involved senior university officials in time-consuming personal matters over a rented mansion in the Oakland Hills. University officials said the action was necessary because of a lack of oversight and accountability during Mr. Yudof’s two-year stay at the Oakland property. The announcement came after The Bay Citizen disclosed the costly housing ordeal…

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    Ongoing CalPERS Scandals Make It Tougher for UC

    Byadmin

    UC’s pension plan has nothing to do with CalPERS. But CalPERS has had a series of scandals involving conflict of interest, bribery, and bad investments that tend to tar all public pensions in California including ours. CalPERS’ ongoing problems will complicate UC’s efforts to resolve its own pension unfunded liability. Continued unraveling of CalPERS scandals increases the chances that UC will be dragged into some statewide reform for all public pensions. The latest CalPERS scandal is reported today: CalPERS investment officer linked to bribery scandal resigns Thursday, Aug. 26, 2010, Sacramento Bee (Excerpt) A senior CalPERS investment officer resigned today…

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    Letter from President Yudof regarding proposed changes to UC retirement benefits

    Byadmin

    The following letter about the impending recommendations of the Post-Employment Benefits Task Force was emailed today. It is reproduced below for anyone who may not have received the email and to provide a continuing source of the text. Some parts have been put in bold in the reproduction below.=================== UCOP NewsSent: Thursday, August 26, 2010 11:23 AM To: UCOP-L@LISTSERV.UCOP.EDU Subject: A letter from President Yudof regarding proposed changes to UC retirement benefits Importance: High MEMBERS, UNIVERSITY OF CALIFORNIA COMMUNITY Dear Colleagues: I am writing to let you know that within the next few days, the Task Force on Post-Employment Benefits…

  • Gubernatorial Race: Who’s Up? Who’s Down?

    Byadmin

    An interesting item below posted on the LA Weekly website: Schwarzenegger Predicts Victory For Jerry Brown? By Gene Maddaus, Informer Blog/LA Weekly published: Wed., Aug. 25 2010 @ 12:34PM http://blogs.laweekly.com/informer/politics/arnold-schwarzenegger-jerry-br/ ​So Patricia Sellers is an editor-at-large at Fortune, and as such she hangs out in L.A. restaurants where you might just happen to run into people like Maria Shriver and Arnold Schwarzenegger. Upon bumping into Schwarzenegger on Monday at Le Pain Quotidien, Sellers asked the governor what he thought of Meg Whitman, about whom she wrote a profile last year. The governor’s answer was off the record, but it’s clear…