HR Update; July 25, 2008
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In this Edition
Message from President Yudof about Potential Pay Cuts
You may have read recently that Governor Schwarzenegger is considering an executive order that would reduce the pay of state workers to the federal minimum wage until a state budget is approved. A number of news articles published in the past few days report the order would call for full salaries to be paid retroactively after budget approval. It is anticipated that the Governor may sign the order on Monday.
The reports so far indicate a great deal of uncertainty surrounding this issue. Based on the information we have at this point, however, and our experience in prior years with similar budget situations, we’ll make every effort to ensure that employee salaries will continue to be paid at current levels and that all labor contracts will be honored until an agreement is reached on a State budget. At the same time, we recognize the severity of the budget crisis confronting the State, and as in the past UC will take appropriate measures to assist the Governor and the State in addressing its fiscal situation.
We’ll let you know if our understanding of the University’s obligations regarding this issue changes.
View President Yudof’s letter on the At Your Service website.
UC Retirement Readiness Education Programs
As you can see from the reminder below, currently there is a “lull” in the summer-time schedules for the Retirement Readiness Workshops, so now is a good time to contact your Departmental Personnel/Benefits Representative and request to have a workshop in your department.
Otherwise, please pass this on to your colleagues, circulate invitations, post the actual scheduled workshops happening near your location, or re-broadcast these weekly reminders about our valuable (free) education programs for faculty and staff. Bring your lunch, your questions, your spouse/partner ...
- UC Retirement Plan (UCRP)—UC’s Defined Benefit Plan
- “The Features of UCRP”
- Coming Again Soon—Stay Tuned
- Refer to these schedules for details and future workshops
- The Future of UCRP
- UC Retirement Savings Plans—the 403(b), 457(b), and DC Plans
- “Enrolling in Your UC Retirement Savings Program”
- July 28, Parnassus, Toland Hall, 8:00 a.m. – 9:00 a.m.
- “Determining Your Right Investment Strategy”
- July 28, Parnassus, Toland Hall, 11:00 a.m. – 12:00 p.m.
- “Achieving a Sound Retirement”
- July 28, Parnassus, Toland Hall, 8:00 a.m. – 9:00 a.m.
- “Understand the How-tos of Fidelity’s NetBenefits Website”
- Coming Again Soon—Stay Tuned
- Refer to these schedules for details and future workshops
- Arrange to have these workshops at a meeting in your department
- Focus on Your Future!
Usually there can be at least one (or more) workshop(s) per week scheduled at various UCSF locations around town. For more details and listings for upcoming scheduled presentations, please refer to our Workshops and Presentations Schedules menus found at our local UCSF HR/Benefits website.
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