Our pension is on the chopping block
On July 1, 2016, UC began offering newly hired UC employees (who are not protected by a union contract) the option to choose a 401(K)-style savings plan instead of a defined benefit pension. Our pension plan guarantees us a monthly retirement income for life that vests after five years of full-time service and gives us the opportunity to retire with dignity.
The opt-out plan UC is pushing will only benefit very short-term highly paid staff members. Opting out of the pension and choosing a 401-K type plan that relies on the vagaries of Wall Street and the stock market does notguarantee a secure retirement for most UC workers.
Fewer people paying into the pension weakens the plan for all of us. It WILL run out of money as the number of active workers contributing to the pension drops and the number of retiring workers rises.
Our retirement security depends on our united participation in UCRP
UC is also shifting jobs from career positions to seasonal, temporary, or contract positions. These are inferior offers for our co-workers who have them, with no chance to vest in the pension or to access benefits that have been rightfully earned.
Devaluing UC jobs this way is not productive and will not contribute to fulfilling UC’s missions—education, research, and public service.
As lone individuals, UC Administrative Professionals cannot stop the attacks on our pension and on our jobs. Together, choosing UPTE representation, we will gain a collective voice and union power to protect career jobs and our benefits.
Join us in the fight to save our pension—sign an UPTE authorization card today.