News

Can Calpers keep its promises?

Byuclafaculty

Can CalPERS keep its Promises? San Francisco, Reuters, Oct. 23, 2009 Jim Christie, Reporting and Analysis This article reports that CalPERS lost more than $56 billion in its most recent fiscal year. Most likely contributions will increase significantly, at least by 2011-12.  But the choices are hard:        increasing contributions by public workers to their retirement plans, potentially by up to 50% for some employees;        raising taxes to cover higher contribution rates absorbed by government agencies, which may also jump by 50%;       cutting public services and payrolls to shift money to retirement plans;     …

|
Byuclafaculty

The Troubles at UCRP 1. Under normal circumstances, 17.02% of covered compensation (your base salary) is the annual contribution required to maintain a healthy pension fund. For all of UC, this amounts to $1.3395 billion. The Regents’ 2010-2011 proposed budget funds UCRP at just over one third this amount. Thus, the Regents’ plan will underfund UCRP by $867 million in the academic year 2010-2011. 2. Circumstances are not normal: UCRP is no longer a fully funded pension plan. Part of this problem arose because of poor market returns, but most of the shortfall can be attributed to the 20 year…

Byuclafaculty

A new report by the Legislative Analyst is out: http://www.lao.ca.gov/2009/bud/fiscal_outlook/fiscal_outlook_111809.pdfApart from the general grim outlook for the state, there is a section on higher ed and UC.  However, the pension issue is not covered in that section.  Rather, it appears on page 38 in a section on state retirement costs. No Additional State Payments for UC Retirement Programs Assumed. Consistent with past funding practices, our forecast assumes no additional state contributions between 2009‑10 and 2014‑15 to cover costs of UC’s pension and retiree health programs. Both have unfunded liabilities, and currently, no significant contributions are being paid by UC or…

Byuclafaculty

What are the risks in UC turning to the federal government for funding? Is UC Davis really a national university? Read on….  “As California tightens purse strings, UC turns to Uncle Sam” by Laurel Rosenhall Tuesday, Oct. 06, 2009, Sacramento Bee This article outlines what the federal government has given to UC to help bail the system out of the current budget crisis and what UC wants in the future. In the current budget year, $700 million in federal stimulus funds went to UC to fill the gap in state funding as well as millions of federal dollars that fund…

|
Byuclafaculty

“UC Berkeley to pay consultant to find cost cuts” San Francisco Chronicle, Monday, October 5, 2009 The San Francisco Chronicle published an article today written by Nanette Asimov in which she reported that UC Berkeley has agreed to pay a consultant $3 million to help the university save money. UCB is facing a $150 million budget deficit for the 2009-10 year. Through short-term measures like cutting faculty pay through unpaid furlough days, laying off employees, reducing course offerings, fund raising, and increasing fees, the campus has whittled that deficit down, but there is still a long way to go to…

|
Byuclafaculty

A Medical School at UC Merced “Loose Lips: How about a shorter name, please” by Merced Sun-Star, Friday, Oct. 02, 2009 The Merced Sun Star published a short article last Friday on the process that appears to be leading to the building of a medical school at UC Merced. Campus leaders said that with funds already received from the federal government, the next step is to establish an undergraduate program that “lays the groundwork for the medical school.” The name is the highly descriptive “Center of Excellence for the Study of Health Disparities in Rural and Ethnic Underserved Populations.” The…

Byuclafaculty

 Sept. 23, 2009 More About Cal Grants On the FA Blogspot (www.uclafacultyassociation@blogspot.com) , we posted an interview with Tom Campbell, who is running for Governor. He is a former state legislator, former congressman, with a Ph.D. in economics from the University of Chicago who graduated magna cum laude from Harvard Law School. He taught economics at Stanford U and was dean of the UC Berkeley business school.  He proposes using Cal Grants to improve funding to UC. Cal Grants are awarded by the State to high school seniors to cover the costs of fees, tuition, and living expenses. There are…

| |
Byuclafaculty

AAUP Response to the letter from Henry Powell & Daniel L. Simmons AAUP general secretary Gary Rhoades and AAUP president Cary Nelson respond below to the Sept. 9, 2009 letter (http://senate.ucr.edu/An%20Open%20Letter%20to%20UC%20Faculty%20From%20the%20AAUP.pdf) from Henry C. Powell, Chair, UC Assembly and Academic Council, and Daniel L. Simmons, Vice-Chair, Academic Council: September 21, 2009 Henry C. Powell, Chair
Assembly and Academic Council, University of California
henry.powell@ucop.edu Daniel L. Simmons, Vice-Chair
Academic Council
daniel.simmons@ucop.edu Dear Professors Powell and Simmons, Thank you for taking the time to provide an extensive response, as Chair and Vice-Chair of the UC Academic Council, to our open letter (to University of California faculty,…

|
Byuclafaculty

Tom Campbell, a long-shot Republican candidate for governor, former state legislator, former congressman, lays out his plan for increasing public college enrollment without increasing public spending. He has a Ph.D. in economics from the University of Chicago and graduated magna cum laude from Harvard Law School. He taught economics at Stanford U and was dean of the UC Berkeley business school.  Tom Campbell Q&A Pt. 1: Taxes and fixing the economy, Sept. 17, 2009 Part 1         http://totalbuzz.freedomblogging.com/2009/09/17/tom-campbell-qa-pt-1-taxes-and-fixing-the-economy/22063/ Campbell Q&A Pt. 2: More college students, smaller classes, Sept. 20, 2009 Part 2         http://totalbuzz.freedomblogging.com/2009/09/20/campbell-qa-pt-1-more-college-students-smaller-classes/22165/ excerpt: The method I would use for adding…

|
Byuclafaculty

NEW FUNDING IDEAS NEEDED Friday, Sept. 18, 2009, Editorial, San Francisco Chronicle excerpt: “Here’s some ideas to consider carefully: — Differential pricing. Tier tuition, with the campuses with the most name-brand clout, Berkeley and UCLA, at the top; Davis, San Diego, Santa Barbara and Santa Cruz at mid-range, and Irvine, Merced and Riverside at the low end. — Go overseas: Foreign students already pay premium tuition for a UC education. Recruit more. — Levy an oil severance tax – projected to bring in $1.2 billion a year – and dedicate it to UC and CSU.” For the complete article, go…