News

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Threat Level Reduced on Pensions

Byuclafaculty

The victory of Jerry Brown in the gubernatorial race likely means that the threat of a defined contribution plan as the new lower-tier pension is off the table. Meg Whitman supported defined contribution. Still, as the story below notes, there were a number of pension initiatives at the local level on the ballot and most passed. (San Francisco was an exception.) So the possibility that someone might put a pension proposition on the state ballot remains. Pension reforms sweep, except San Francisco (excerpt) November 4, 2010 by Ed Mendel, calpensions.com Voters approved seven ballot measures Tuesday aimed at curbing or…

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UC Calls for Faculty Volunteers for Online Education Project

Byuclafaculty

UCOP announcement reproduced below: UC Online Instruction Pilot Project Today the University of California finds itself confronting a tremendous challenge: In recent times, there has been a transformation in how students learn. Increasingly, technology and the computer play central roles in their lives — affecting everything from how they gain knowledge to how they communicate with others. In response to this transformation, UC seeks to reach out to this new breed of students, enriching their academic experience with all that technology offers and at the same time maintaining the superb caliber of undergraduate education offered at UC campuses. As part…

Government by (Hot) Checks and (Im)Balances: California’s State Budget from the May 2009 Voter Rejection to the October 2010 Budget Deal

Byuclafaculty

The sad tale of the California state budget over the past year and a half – as told by yours truly – is available at http://www.anderson.ucla.edu/documents/areas/fac/hrob/mitchell_2011budgetchapter.pdf At over 60 pages, it may be more than you want to know. This item is a forthcoming chapter in California Policy Options 2011, an annual volume of the UCLA School of Public Affairs. The volume will appear in paper format in late December or early January. It will be webified towards the end of winter quarter. Earlier volumes – including chapters on the state budget – can be found at http://www.anderson.ucla.edu/x2195.xml (Scroll down…

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CalSTRS May Lower Expected Investment Return to UC Level

Byuclafaculty

The large CalSTRS pension fund has used an expected investment return of 8% per annum. That figure is higher than the 7.5% assumption in the UC pension system. Apparently, CalSTRS may soon go to the UC level. Excerpt from the Sacramento Bee: CalSTRS faces prospect of lowering forecast Nov. 2, 2010, Dale Kasler CalSTRS once again faces the controversial task of cutting its investment return forecast, a move that could put more pressure on the Legislature to increase its annual contribution to the teachers pension fund. At its meeting Friday, the CalSTRS governing board is scheduled to vote on a…

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UC Regents Join Stanford in Lawsuit Over Patent Rights

Byuclafaculty

Inside Higher Ed reports on a lawsuit over patent rights to an invention of a Stanford medical researcher. The case is on appeal and will be heard by the US Supreme Court. The Regents of UC have filed a friend-of-the-court brief in support of Stanford. Stanford lost at a lower level and the case is reported to be significant for patent rights more generally of US univerities. Excerpt from the report: In a ruling last October, the U.S. Court of Appeals for the Federal Circuit had directed a lower court to dismiss a lawsuit Stanford had brought accusing the pharmaceutical…

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Further Adventures in Invasion of Privacy & Encouragement of Identity Theft: OC Register Database of UC Salaries

Byuclafaculty

The Orange County Register joins the Sacramento Bee and San Francisco Chronicle in making available an online database of UC salaries. Although the headline reads “Find out who makes more than $200,000 at UC,” in fact it appears all salaries are in the database, including those below $200,000. See http://www.ocregister.com/articles/-273430–.html?data=1&appSession=90482558695490#article-data

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Plan for UC Employer Contribution to Pensions: 2011-2037

Byuclafaculty

Above is a chart, which I am told is not confidential, showing UCOP’s plan for the employer share of the contributions to go into the pension plans (existing plus lower tier) until 2037. The image may not be clear; the lower line is the plan with STIP borrowing which maxes at 18.5%. The higher line is what would happen without STIP borrowing and it maxes at 20%. The note on the bottom of the chart reads: “Assumes new tier with 15.% (sic) total normal cost in place by FYB2013, 8% contribution for employees that stay in the current UCRP plan….

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All in the Same Boat on New Pension Plan?

Byuclafaculty

One of the elements of the Academic Senate’s reaction to the two-tier pension proposals has been that faculty and staff should remain in the same plan. (See earlier posts.) President Yudof rejected Options A and B and went along with a version of C. It was unclear (to me) what staff unions were going to say about the proposal. At least on the issue of “all in the same boat,” AFSCME appears to agree with the Senate. From a recent article in the Santa Cruz Sentinal: “The proposal is not good enough,” said Lakesha Harrison, president of AFSCME Local 3299,…