Listen to Regents Retreat on Health & Pension Benefits
In the discussion on health and pension costs at the Sept. 12 Regents retreat, there were a number of disturbing elements. Some regents seemed to have forgotten their own 2010 decision to go to a two tier pension but retain the basic defined benefits format. The whole defined benefit vs. defined contribution debate seemed to start up again as if it had not occurred earlier. Erroneous statements were made by one Regent that Stanford and Harvard had no pension plan, when – as was pointed out – what they have is a generous defined contribution plan (although not a defined…