SUBJECT:

Reinstatement of UCRP Contributions

In a recent letter to the UC community regarding reinstatement of UC Retirement Plan (UCRP) contributions, Randy Scott, Executive Director, HR/Benefits Policy and Program Design at the UC Office of the President, clarifies that the UC Regents have adopted the concept of a multi-year contribution strategy. Pursuant to this concept, contributions to UCRP from employees and the University will be shared and will increase gradually over time.

The letter clarifies the point that active employees will not be required to contribute sixteen (16) percent to UCRP, nor is there any action under consideration to reduce employee pay by eight (8) percent in July 2007.

The complete correspondence from Randy Scott, as referenced above, may be viewed at:

http://atyourservice.ucop.edu/news/retirement/letter_clarifies.html

Rogers Davis Assistant Vice Chancellor - Human Resources