UC Regents End-of-Meeting Wrap-Up, July 17

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Jordan Wolff
Promotions Director

Photo by Matt Mersel

UC Regents Say Yes to Faculty Housing Reserve Fund

The UC Regents approved a recommendation by the Board of Finance. It proposed, “$10 million of the Faculty Housing Reserve Fund balance be reallocated to address important academic priorities.”

UC Regents Pass Technical Amendment of Approval of Professional Degree Supplemental Tuition Levels for 2012-2013

The UC Regents approved a recommendation by the Board of Finance. It suggested, “The Regents to approve the proposed Professional Degree Supplemental Tuition levels for 2012-13 effective August 1, 2012 for the 57 programs shown in Attachment 1, 2012-13 Proposed Professional Degree Supplemental Tuition Levels.”

UC Regents Vote Yes on University of California Retirement Plan

The UC Regents approved a recommendation by the Board of Finance. It proposed, “That contributions by the University and members to the University of California Retirement Plan (UCRP or Plan) beginning in Plan Year 2014-15. The recommendation is being presented now to allow sufficient time for location budget planning and the collective bargaining process for represented employees. Total contributions to the Plan determined at the recommended rates will fall short of the Regents’ funding policy level, but exceed the Plan’s Normal Cost (the portion of the cost for projected benefits allocated to each year of service for active members). All member contributions and a portion of the University contributions will be allocated to Normal Cost; the balance of the University contributions will be applied towards paying interest on the unfunded actuarial accrued liability.”