Retirement plan updates from regents, UCOP

The University of California Board of Regents on Thursday adopted recommendations from UC President Mark G. Yudof to change some of the assumptions used to estimate UC Retirement Plan (UCRP) liabilities and annual costs.

The changes are based on based a new study by the regents’ actuary, Segal Company, which found that UCRP members are living longer and thus will be receiving more retirement benefits, adding to the plan’s accrued liability.

The UC Newsroom has a report on the revised assumptions and how they will affect UCRP, including a link to the full actuarial report: Regents adopt new assumptions for assessing UCRP liabilities

The UC Office of the President also issued a reminder Thursday that UC faculty and staff will see a change in their next paychecks as both the university and its employees start contributing more to the UC Retirement Plan: Higher UCRP contributions affecting paychecks issued beginning July 20