AGREEMENT REGARDING PAYMENT OF UCRP CONTRIBUTIONS
UNIVERSITY OF CALIFORNIA, IRVINE AND
STATE EMPLOYEE TRADES COUNCIL – UNITED
Article 44 of the Memorandum of Understanding between the parties provides that:
For 1976 Tier Employees (hired before July 1, 2013)
For the period July 1, 2014 through June 30, 2015, bargaining unit employees shall be required to make a retroactive contribution totaling one and one-half percent (1.5%) to the University of California Retirement Plan (UCRP). The contribution catch-up from 6.5% to 8.0% for this twelve (12) month period shall be collected from employees via payroll deduction pursuant to the schedule/formula provided in Paragraph 2. Effective July 1, 2015, bargaining unit employees shall contribute a total of eight percent (8%) to the UCRP.
In order to implement the requirements of this provision, the parties hereby agree to the following repayment formula/schedule, which shall constitute the Appendix referenced in the above contract provision:
- First, the total dollar amount of retroactive increases contributions effective July 1, 2014, and continuing until July 1, 2015 shall be calculated for bargaining unit employees who were both (a) employed at any time during this period of time, and (b) continue to be employed on the date of this Agreement.
- Next, this total dollar amount calculated pursuant to paragraph 1 above shall be collected from employees via payroll deductions in equal installments, from July 1, 2018 to June 30, 2019. However, bargaining unit employees whose employment ends prior to the full payment of retroactive increase contributions shall have the balance collected from his/her final paycheck. In such case, employees will be required to complete and sign a form provided by the University, which will include employee authorization for any such final paycheck deduction.
For 2013 Tier employees (hired on or after July 1, 2013)
Their current contribution rate is 7.0%. Their rate will not increase to 8.0%.
For SETC-United For University of California, Irvine