UC Dean Christopher Edley defends pension demands
Edley is among 36 executives who sent a letter Dec. 9 demanding that the regents agree to raise the pensions of UC’s highest paid employees. They claim the regents agreed in 1999 to begin calculating retirement benefits as a percentage of executives’ entire salaries, instead of just the first $245,000, after the Internal Revenue Service agreed to lift that cap. The IRS did so in 2007. But UC President Mark Yudof has said lifting the cap has become too expensive for UC, and the regents are not required to do it… The pension demand has drawn no public support, but plenty of anger from everyone from Gov.-elect Jerry Brown and Assembly Speaker John P
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by Nanette Asimov, The San Francisco Chronicle.