[Senate] [Important Retirement Information] UCFW/TFIR 2016 UCRP Modeling Tool

[Senate]

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May 6, 2022

TO:        UCR Senate Faculty
              Department Chairs
             Vice Provost for Academic Personnel Jeske

CC:        Provost Watkins
              Chancellor Wilcox

 Dear Colleagues,

 I write to share Academic Council's endorsement of a UC Retirement Plan (UCRP) modeling tool developed by members of the University Committee on Faculty Welfare Task Force on Investment and Retirement (UCFW-TFIR) to assist new UC employees when choosing a retirement plan.  The model is a simulation tool for informing employees in the 2016 University of California Retirement Plan (UCRP) tier how their "Pension Choice" (Defined Benefit) and "Savings Choice" (Defined Contribution) options are structured, how they compare, and how various assumptions (such as starting age and alternate rates of return) affect projected outcomes in each option.

The tool and additional information are located here:

  *   TFIR Retirement Plan Choice Modeling<https://senate.universityofcalifornia.edu/resources/pension-choice-model.html>
  *   Tutorial<https://drive.google.com/file/d/1tGM6V1n65VshwVh5gV9hb_sgTYwbM9uJ/view>
 As Academic Council Chair Robert Horwitz indicates in the attached letter, I encourage department chairs to discuss the model with new faculty and ask that Vice Provost for Academic Personnel Jeske to kindly link to the model in faculty offer letter templates, if possible.

 In service,

/s/Jason




Contact Us

Jason Stajich
Academic Senate Chair
jason.stajich at ucr.edu <mailto:jason.stajich at ucr.edu>

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