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[February 1, 2000]
In response to retirement benefit changes adopted recently by the California Public Employees Retirement System (CalPERS), UC Human Resources and Benefits is evaluating the feasibility of implementing retirement benefit enhancements. An in-depth analysis of this nature requires consultation with various groups within the University and takes a significant amount of time to complete.
For many CalPERS members, the age factor change (effective January 1, 2000) represents the first benefit formula enhancement in over 30 years. During the same period, UCRP members have enjoyed numerous benefit enhancements. While UCRP benefits are often compared to those of CalPERS, any changes made to one retirement system do not necessitate changes to the other; if changes are made to UCRP they will not necessarily mirror the new provisions of CalPERS. It is important to note that any changes to UCRP must be considered in light of the overall goals of the University.
As discussions continue, we will issue updates on our website.