UC Regents

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Bemoaning the CAP

Byuclafaculty

Below is an excerpt from the New York Times Bay Area online edition. It points to the various times when the UC pension was overfunded but pay was frozen (or cut), the Regents diverted some pension funds to the CAP programs in lieu of cash. The CAP programs were basically like mini cash balance plans, i.e., tax deferred savings accounts with a fixed interest rate on the balance. A little-noticed cash benefit for some University of California employees is adding strain to the system’s battered pension plan just as the university prepares for a $500 million reduction in state aid,…

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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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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….

The Regents Reign from Spain (on May 5 – Cinco de Mayo)

Byuclafaculty

The Regents seem to have an outpost in Spain, at least according to the agenda for the May 5 meeting of the Committee on Compliance and Audit. That seems to be the most exciting element in the meeting, although apparently there is also to be an outpost in Tennessee. See below: NOTICE OF MEETING:The Regents of the University of California, COMMITTEE ON COMPLIANCE AND AUDITDate: May 5, 2011Time: 11:20 a.m.Locations: 1111 Franklin Street, Room 11326, Oakland;1130 K Street, Suite 340, Sacramento;Henley Board Room, 3104 Mosher Alumni House, Santa Barbara Campus;6840 Carothers Parkway, Franklin, Tennessee; Calle San Magin 1, Palma de…

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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…

Regents Meeting of 3-16-11: Streaming Audio

Byuclafaculty

Text repeats explanation posted for March 15 Regents meeting: In the past, readers of this blog will know we have provided partial audio of Regents meetings. The Regents provide streaming audio of their meetings. Yours truly captured the audio – when he had the time and no schedule conflicts – using an audio recorder, converted them to videos using a still picture, divided them into roughly 20 minutes segments, posted them on Facebook (which has a 20-minute limit), and then embedded the audio/videos on the blog. This procedure was both time consuming and incomplete. From time to time, yours truly…

Regents Meeting of March 17, 2011: Streaming Audio

Byuclafaculty

Text repeats explanation posted for March 15 Regents meeting: In the past, readers of this blog will know we have provided partial audio of Regents meetings. The Regents provide streaming audio of their meetings. Yours truly captured the audio – when he had the time and no schedule conflicts – using an audio recorder, converted them to videos using a still picture, divided them into roughly 20 minutes segments, posted them on Facebook (which has a 20-minute limit), and then embedded the audio/videos on the blog. This procedure was both time consuming and incomplete. From time to time, yours truly…

Regents Meeting of March 15, 2011: Streaming Audio

Byuclafaculty

In the past, readers of this blog will know we have provided partial audio of Regents meetings. The Regents provide streaming audio of their meetings. Yours truly captured the audio – when he had the time and no schedule conflicts – using an audio recorder, converted it to video using a still picture, divided it into roughly 20 minutes segments, posted them on Facebook (which has a 20-minute video limit), and then embedded the Facebook audio/videos on the blog. This procedure was both time consuming and incomplete. From time to time, yours truly raised the question of why the Regents…

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Part III: UCOP & Regents – Have You Talked With the Governor (Yet)? Where Are You?

Byuclafaculty

Below is a press release from Governor Brown’s office issued yesterday. It explicitly mentions CalPERS and CalSTRS. Less clear is what other state plans – including UC’s plan – would be included. One of the headings say that it applies to state and local plans. The release has definite items and some items that are under consideration. I have put in large italics some of the latter items that could pose problems for UC – depending on the precise details. Note that a pension cap is mentioned, but there is no reference to the precise $106,000 figure that earlier press…

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Governor’s Possible State Budget Deal with GOP Reported to be “Dead”

Byuclafaculty

From “Jerry Brown declares budget talks dead,” Capitol Alert, 3/29/11 Brown did not specify what he would do next… Brown is considering alternative ways to put tax extensions on the ballot, either by a majority in the Legislature or by a ballot initiative. He suggested in his release that he may be skeptical of the majority-vote approach, saying the Constitution requires a two-thirds majority. Full article at http://blogs.sacbee.com/capitolalertlatest/2011/03/brown-budget-talks-with-republ.html#ixzz1I2KX8500 If the talks are truly dead, the issue of the November ballot initiatives (see earlier blog posts) arises. One, as noted in prior posts, would impose a 60% cap on public pensions,…