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UC Executives Threaten Lawsuit Over Pension Benefits

California Pension

First Posted: 12/30/10 09:20 AM ET Updated: 05/25/11 07:20 PM ET

San Jose Mercury News:

Some of the University of California's highest-paid employees have threatened to sue the UC system if it does not follow through on a promise to boost their retirement payments.

In a letter to UC regents this month, 36 employees making at least $245,000 per year said many had turned down jobs at other schools or companies based on UC's promise. The university is in the midst of a pension overhaul to make up a $20 billion deficit caused by a 20-year hiatus in contributions to the fund.

Read the whole story: San Jose Mercury News


Filed by Leah Finnegan  |