Pension Bargaining Update #8

UC Delays Paycuts for Pensions!

Union Coalition Continues Fight for Joint Governance!

Lacking funding in the State Budget to cover UC's portion of contributions for 2007/08, UC has rescheduled the start date for employee contributions, originally planned for 7/1/07.

Our Coalition of Unions has much to celebrate! For the past 12 months, more than 60,000 UC Union members have put tremendous pressure on the University over their planned pension paycuts.

We testified and chanted at Regents Meetings, visited the bargaining table, and backed up our bargaining team through heat on the streets!

We explained the impact of pension contributions on working families to our community and our legislators.

We helped expose the dangers of unilaterally managed pension plans and the benefits of jointly governed plans to the media and legislature.

Our fight now continues for Joint Governance, Market Equity and a return to the historic employee to employer contribution ratio!

Senator Yee Proposes Resolution in Support of UC Workers' Voice in Pension

During a press conference held outside the Regents Meeting on May 16th at UCSF, Sen. Leland Yee announced his resolution in support of Joint Governance for UCRP, SCR 52. Echoing the press's concern over conflicts of interest, this resolution calls for pension reform and advises UC to give employees representation on the board that makes pension decisions. Sen. Yee made sure the objective of this resolution was clear by saying, "The Regents have a choice: change to Joint Governance of the retirement plan or we will go to the ballot and ask the voters to make this change for them."

"The UC Retirement Plan is the only state public pension plan that does not give a voice to the workers. As a result, we have seen complete mismanagement of their retirement plans and serious questions regarding financial conflicts of interest. Now 200,000 UC workers are unfairly being asked to foot the bill." Sen. Leland Yee