No one has paid into the retirement fund since 1992. With the enormous surplus now in the UC retirement program, it seems appropriate to discuss ways to assure that the real value of faculty retirement benefits does not suffer severe erosion. Active and retired faculty should be concerned about the Regent's conservatism regarding the retirement fund in the light of future economic realities. It is true that the University of California has a very good retirement program. The benefits exceed those of many other programs.
Most retired faculty are happy with the program.
As matters stand presently, they can expect to see a severe decline in the real value of their income relative to the cost of living in California. The Davis Faculty Association.