Columnist Critiques UC Plan To Improve Pension System
"Since 1962, [the University of California] has promised health care coverage to retired workers," but "rather than set aside money to cover the costs, the university has only paid the health insurance premiums when they come due," columnist Daniel Borenstein writes in a Contra Costa Times opinion piece. Borenstein writes that UC President Mark Yudof "is timidly fiddling on the margins" in his proposal to adjust the pension plan, which "is underfunded by at least $6.3 billion." Borenstein argues that the proposal is "really only a miniscule down payment on a huge debt."
- "UC Changes Barely Touch Retirement Cost Problem" (Borenstein, Contra Costa Times, 11/15).