Common use of Retirement Income Plans Clause in Contracts

Retirement Income Plans. 1. The basic University of California Retirement System (UCRS) plan provides eligible employees with lifetime retirement income, long-term disability income, family survivor income, and cash death benefits. Social Security is provided for all employees hired since April 1976, coordinated with UCRS and with the same benefits. Any employee who is enrolled in the Public Employment Retirement System (PERS) shall continue in the plan. 2. The Capital Accumulations Provision (CAP), adopted by the Regents of the University of California on November 14, 2002, shall apply to the members of this bargaining unit who meet the eligibility requirements adopted by the University of California Retirement Program. 3. During the life of the Agreement, proposed increases to employee contributions to the UCRP will be subject to meet and confer.

Retirement Income Plans. 1. The basic University of California Retirement System (UCRS) plan provides eligible employees with lifetime retirement income, long-term disability income, family survivor income, and cash death benefits. Social Security is provided for all employees hired since April 1976, coordinated with UCRS and with the same benefits. Any employee who is enrolled in the Public Employment Retirement System (PERS) shall continue in the plan. 2. The Capital Accumulations Provision (CAP), adopted by the Regents of the University of California on November 14, 2002, shall apply to the members of this bargaining unit who meet the eligibility requirements adopted by the University of California Retirement Program. 3. During the life of the Agreement, proposed increases to employee contributions to the UCRP will be subject to meet and confer.