Shared Governance of the University of California Retirement Plan

WHEREAS the University of California is one of the largest public sector employers in the state, with 122,000 employees and 37,000 retirees who are members of the University of California Retirement Plan (UCRP); and

WHEREAS, the UCRP is unilaterally managed by the Regents of the University of California with no shared governance with plan participants; and pension plans with shared governance provide better benefits for workers, are generally financially healthier, and have proven to be far more secure than unilaterally managed plans; and

WHEREAS, the UCRP is required to remain financially strong so that the University of California may recruit and retain employees who make the University of California a world-class institution and so that employees may retire with dignity and with the benefits they were promised;

THEREFORE BE IT RESOLVED that Valley Grassroots for Democracy urges the Regents of the University of California to provide for shared governance of the University of California Retirement Plan, exercising its authority under Section 9 of Article IX of the California Constitution, by including an equal number of trustees representing the employer, faculty and staff plan participants, similar to the Public Employees' Retirement System and the State Teachers' Retirement System.

THEREFORE BE IT FURTHER RESOLVED that Valley Grassroots for Democracy supports current efforts in the Legislature to encourage the Regents to achieve this end and will send copies of this resolution to the Regents, local legislators, and members of the Senate and Assembly Education Committees.

Submitted by Chad Jones
Passed by VGFD PAC, 8/1/07
Passed by VGFD, 9/07
Passed by California Democratic Party, 11/07