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University Of California Regents Approve Contentious Pension Plan

09/17/2010 01:53 pm ET | Updated May 25, 2011

The UC Board of Regents voted to increase employer and employee contributions to the university's massively underfunded pension system Thursday despite UC employee protests, which forced a brief suspension of the meeting.

In an effort to reduce the program's $14 billion funding deficit, the board approved a plan to increase the total level of contributions into the pension program by more than 250 percent, a move that employee advocates say could leave the lowest-income UC employees teetering on the brink of poverty.

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