Report: UC Student Tuition Paying For Generous Faculty Pensions

LOS ANGELES (AP) — A newspaper investigation finds the number of University of California retirees collecting six-figure pensions has increased 60 percent since 2012 — and those increasingly generous retirement packages are being paid for by students’ tuition.

The Los Angeles Times reports Sunday that last year more than 5,400 UC retirees received pensions over $100,000.

Spokeswoman Dianne Klein said it’s impossible to say precisely how much of this year’s tuition increase will go toward retirement costs, but the newspaper says it could be tens of millions of dollars.

The Times says pensions, salaries and UC’s failure to contribute to the pension fund for two decades have left the retirement system in the red. Last year, there was a $15 billion gap between the amount on hand and the amount it owes to retirees.

(© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

One Comment

  1. Bobba Tribe says:

    Looks to me like UC is failing its retirees. It failed to make necessary contributions to the fund for 2 decades. That seems like criminal neglect. Typical that in this day and age you blame decades long employees for the retirement system that is only failing because of malfeasance. Time to jail those that should have funded the system and time to live with the obligation.

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