Everyone wishes we were moving faster because we’re not funding the entire unfunded liability and the normal cost. But we also have limited dollars and we’re getting no support from the state, unlike Cal State University or retirements for community colleges, we get zero support from the state. Now, we’re fighting for that and believe we should get support from the state, which would improve our ability to accelerate our contributions, a much more achievable goal. But right now we’re basically cutting into programs and cutting into other priorities at the university in order to fund the retirement system.

Read full article [here].
by Jordan Bach-Lombardo, The Daily Californian.

Posted: November 30th, 2010, by: admin. Categories: . Awaiting Comments.