Retirement System for UC Needs Overhaul, Panel Says
The UC retirement system will face a shortfall of more than $20 billion unless broad changes are made to the program, according to a report released Monday by university administrators and employees. The panel recommended that UC increase contributions by staff, raise the minimum retirement age and reduce benefits.
- "UC Retirement Funds Face a Shortfall of More Than $20 Billion, Report Says" (Gordon, Los Angeles Times, 8/31).