U. of California Employees With Top Salaries Threaten to Sue on Pensions

January 3, 2011

Employees of the University of California who are at the top salary levels -- earning more than $245,000 -- are threatening to sue if pension rules are not changed to enlarge their potential retirement earnings, The San Francisco Chronicle reported. The employees say that the university committed to basing pensions on their actual salaries, not just the first $245,000 earned, and that failure to do so would make it more difficult for the university to attract talent. The demand comes at a time that the university is cutting pension benefits to deal with a massive deficit in the retirement fund.

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