UC Executives Threaten Lawsuit Over Pension Benefits

12/30/2010 09:20 am ET | Updated May 25, 2011
  • 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 more on San Jose Mercury News