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‘The UC system took a pension holiday for 20 years’
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‘The UC system took a pension holiday for 20 years’
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Reader reaction to “Retirement Debt: What’s the problem and how does it affect you?“
You wrote: “The UC system authorized the first in-state tuition hike on students in seven years due in part to soaring pension outlays.”
What you failed to tell your readers is that the UC system took a pension holiday for 20 years—from 1990-2010—and didn’t make their annual required payments. The funded level shrunk form 137 percent funded in 1990 to 75 percent.
Had the UC system simply made its required annual payments, the system would be funded at 120 percent today.
Important facts your readers should have known, don’t you think?
Doug Rose
Feb. 22, 2018