pension

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Steamroller Could Be Approaching on Pension

Byuclafaculty

The California business community is pushing for a grand deal on the state budget which would include pension reform of some type. And, as yours truly endlessly points out on this blog, UC’s pension modifications approved by the Regents last December could be steamrollered through some ballot proposition that would be part of the deal. No sign yet, however, that UCOP or the Regents are taking active steps to avoid that outcome. From the San Francisco Chronicle online: Using bizspeak, the (business) leaders say they think that California should have a “financial workout plan.” In the business world, a financial…

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Pension Initiative Advances Toward Petition Stage But Is It For Real?

Byuclafaculty

When initiatives are filed, the Legislative Analyst’s Office (LAO) provides an analysis, primarily of budgetary implications. Readers of this blog will know that an initiative was filed – apparently as part of the negotiations strategy of Republican legislators with the governor – which would put certain limits on public pensions. The LAO has now provided an analysis. The initiative would affect both new hires and current employees with regard to an increase in the minimum age of retirement. It is pointed out in the LAO’s analysis that this provision might well be illegal. The initiative also sets a 60% cap…

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UC Pension Swept In (and away?)

Byuclafaculty

As noted in a prior post, an organization known as the “California Foundation for Fiscal Responsibility” issued a study yesterday on public pensions. UCRP is included in the study but is not discussed. As often noted on this blog, that has been a general problem of discussions of the pension issue in California. UC is swept in but, at the same time, its special features are neglected and the focus is instead on CalPERS and other plans. In the frenzy over public pensions – with possible ballot initiatives (or possibly some deal on the state budget that would involve pensions…

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UC Pension Plan May Be Targeted Today

Byuclafaculty

A group whose funding sources are cloudy – the California Foundation for Fiscal Responsibility – plans a grand unveiling today of a study on pension funding in California. The report below indicates it covers California’s 5 biggest pension funds. After CalPERS and CalSTRS, UCRP is the 3rd largest at the state level. As numerous posts on this blog have indicated, ballot initiatives aimed at capping pensions could affect UC and override the Regents’ action on the UC pension taken last December. UC could be swept into some statewide initiative even if it is not a central target of the study….

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Analysis of State & Local Pensions Suggests Uncertainty About Status of Current Employees

Byuclafaculty

The Congressional Research Service recently issued a report on state and local public pensions. Among the issues addressed is what, if any, changes can be made for current employees. (The report states that benefits of already-retired employees have been seen as not subject to cutbacks but indicates that this concept is under challenge in some states.) There is no specific analysis of California although various states are referenced in the text. The report indicates that while in the private sector it is clear that already-accrued benefits cannot be taken away, employers can terminate plans going forward or reduce future accrual…

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Wake Up UCOP and Regents: The Governor Says There Is Still Time to Make Your Voice Heard

Byuclafaculty

Is there a budget deal in sight and does it include some kind of pension limit? Not yet – but the clock is ticking. UCOP and the Regents need to wake up and make their voice heard on behalf of UC, particularly on pensions, but also on the budget in general. See below. April 22: …(Governor Brown) said a budget deal remains elusive and could take several more weeks to reach. “We’re not at the point of, ‘OK, if you do this pension reform and A, B, C and D regulatory, you’ve got a deal,’ ” Brown told reporters after…

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A Plug for Today’s Events

Byuclafaculty

Yours truly will be speaking at a “Public Sector Forum” today (Thursday, April 21), 5 PM, 1447 Law School, on California’s “Governance, Budgets, and Public Workers.” The program has a panel on the subject and was organized by Prof. Katherine Stone of the Law School. Note that Obama is visiting the Westside today so if you are not on campus, you may not be able to get there due to traffic gridlock. On the other hand, you might not be able to get home if you are on campus so the forum is something to do while you are stuck….

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Something that could be done on the UC Budget: Time to Ask

Byuclafaculty

On The Record (Excerpt) Gov. Jerry Brown recently announced that he was ending talks with Republican legislators over a temporary tax increase. What can be done to prevent partisan standoffs in Sacramento and improve the UC’s financial circumstances? Daniel 
Mitchell, 4-11-11, Daily Bruin When the state legislature spends time in the midst of a major budget crisis debating about whether to ban shark fin soup, you know we’re in trouble. The current focus on soup is not because legislators don’t know about the dire budget situation. Rather it means they don’t know what to do about it. And that is…

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Did He Mention the Pension?

Byuclafaculty

A previous post noted that President Yudof would be meeting with the governor today. The video below is his statement, apparently made before the visit. Members of the UC community would not disagree with anything he said. Reports of the subsequent visit to the governor suggest that what occurred with Brown was more the governor looking for support in his efforts to get his tax program before the voters, one way or another, than the university making its needs known. (See http://blogs.sacbee.com/capitolalertlatest/2011/04/gov-brown-talks-tax-extensions.html.) Not clear is whether UC (UCOP) had a specific agenda for the governor’s consideration. As noted in prior…

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An Opportunity to Go Beyond Meet and Greet

Byuclafaculty

Yesterday, this blog noted that President Yudof “hoped” to meet with Governor Brown. Today’s news is that a meeting will occur this morning. From Capital Alert: Higher education brings out big guns today in the budget wars, with University of California President Mark Yudof, California State University Chancellor Charles Reed and Community Colleges Chancellor Jack Scott pleading their case for sparing colleges and universities from more cuts. They kick off Higher Education Advocacy Day at 9 a.m. on the Capitol’s west steps. Gov. Jerry Brown is set to meet with them privately later this morning. Full article: http://blogs.sacbee.com/capitolalertlatest/#ixzz1IenLHu6n Of course,…