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<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><strong><span style="font-size:12.0pt;font-family:Roboto;color:black">May 6, 2022<o:p></o:p></span></strong></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"><br>
TO: UCR Senate Faculty<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"> Department Chairs<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"> Vice Provost for Academic Personnel Jeske<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"><br>
CC: Provost Watkins<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"> Chancellor Wilcox<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"><br>
Dear Colleagues,<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"><br>
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.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"> <br>
The tool and additional information are located here:<o:p></o:p></span></p>
<ul type="disc">
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<span style="font-size:12.0pt;font-family:Roboto"><a href="https://senate.universityofcalifornia.edu/resources/pension-choice-model.html" target="_blank"><span style="color:#E4002B">TFIR Retirement Plan Choice Modeling</span></a><o:p></o:p></span></li><li class="MsoNormal" style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:justify;line-height:18.0pt;mso-list:l0 level1 lfo1;text-size-adjust: 100%">
<span style="font-size:12.0pt;font-family:Roboto"><a href="https://drive.google.com/file/d/1tGM6V1n65VshwVh5gV9hb_sgTYwbM9uJ/view"><span style="color:#E4002B">Tutorial</span></a><o:p></o:p></span></li></ul>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"> 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.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"><br>
In service,<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:black"> <br>
<em><span style="font-family:Roboto">/s/Jason</span></em><br>
<o:p></o:p></span></p>
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<h3 style="margin:0in;line-height:19.7pt"><span style="font-size:16.0pt;font-family:Roboto;color:#003DA5">Contact Us<o:p></o:p></span></h3>
<p class="MsoNormal" style="line-height:18.0pt"><span style="font-size:12.0pt;font-family:Roboto;color:#757575"><br>
<strong><span style="font-family:Roboto">Jason Stajich</span></strong><br>
<em><span style="font-family:Roboto">Academic Senate Chair</span></em><br>
<a href="mailto:jason.stajich@ucr.edu" target="_blank"><span style="color:#E4002B">jason.stajich@ucr.edu </span></a><br>
<br>
<strong><span style="font-family:Roboto">Senate Executive Office Email</span></strong><br>
<em><span style="font-family:Roboto">For non-urgent matters please email:</span></em><br>
<a href="mailto:senate@ucr.edu" target="_blank"><span style="color:#E4002B">senate@ucr.edu</span></a><br>
<o:p></o:p></span></p>
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<strong><span style="font-size:12.0pt;font-family:Roboto;color:#003DA5">STAY CONNECTED</span></strong><span style="font-size:10.0pt;font-family:Roboto;color:#003DA5"><o:p></o:p></span></p>
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<p class="MsoNormal" align="center" style="text-align:center"><a href="https://senate.ucr.edu/" target="_blank"><span style="color:blue;text-decoration:none"><img border="0" width="24" height="24" style="width:.25in;height:.25in" id="Picture_x0020_2" src="cid:image002.png@01D86127.FA85A130" alt="Website"></span></a><o:p></o:p></p>
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<strong><span style="font-size:13.0pt;font-family:Roboto;color:#003DA5">Academic Senate | 231 University Office Building, Riverside, CA 92521</span></strong><b><span style="font-size:13.0pt;font-family:Roboto;color:#003DA5"><br>
<strong><span style="font-family:Roboto"> <a href="mailto:senate@ucr.edu"><span style="font-weight:normal">senate@ucr.edu</span></a></span></strong></span></b><span style="font-size:10.0pt;font-family:Roboto;color:#003DA5"><br>
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<strong><span style="font-size:13.0pt;font-family:Roboto;color:#003DA5">COMMITTED TO ACADEMIC EXCELLENCE AND SHARED GOVERNANCE</span></strong><span style="font-size:10.0pt;font-family:Roboto;color:#003DA5"><o:p></o:p></span></p>
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