UC RETIREMENT PLAN DOCUMENT - UPTE-CWA
UC RETIREMENT PLAN DOCUMENT - UPTE-CWA
UC RETIREMENT PLAN DOCUMENT - UPTE-CWA
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University of California Retirement Plan Article 4<br />
4.04<br />
Benefits shall be required to contribute to the Plan a monthly amount<br />
equal to 4.50% of Covered Compensation less $19 per month.<br />
Effective July 1, 1993, a portion of the total Member Contributions equal<br />
to 1.5% of Covered Compensation per month shall be suspended. The<br />
remainder, 3% of Covered Compensation less $19 per month, shall be<br />
contributed instead to the Defined Contribution Plan. Such allocation of<br />
Member Contributions shall remain in effect until changed by The<br />
Regents.<br />
MEMBER CONTRIBUTIONS FOR MEMBERS WITH TIER TWO BENEFITS<br />
4.05<br />
Active Members with Tier Two Benefits shall not be required to<br />
contribute to the Plan.<br />
MEMBER CONTRIBUTIONS FOR MEMBERS WITH SAFETY BENEFITS<br />
4.06<br />
Effective November 1, 1990, each Active Member with Safety Benefits<br />
shall be required to contribute to the Plan a monthly amount equal to 8%<br />
of Covered Compensation less $19 per month.<br />
Effective July 1, 1993, a portion of the total Member Contributions equal<br />
to 5% of Covered Compensation per month shall be suspended. The<br />
remainder, 3% of Covered Compensation less $19 per month, shall be<br />
contributed instead to the Defined Contribution Plan. Such allocation of<br />
Member Contributions shall remain in effect until changed by The<br />
Regents.<br />
CREDITING OF MEMBER CONTRIBUTIONS<br />
To the extent paid to this Plan, Member Contributions made by each<br />
Member shall be credited to the Member's individual account in this Plan<br />
and shall be credited with interest on the last day of each month at the<br />
rate established from time to time by The Regents. Make-up Member<br />
Contributions made in accordance with the Member's reemployment<br />
rights in compliance with 38 U.S.C. §§4300-4333, the Uniformed<br />
Services Employment and Reemployment Rights Act (USERRA), and<br />
Internal Revenue Code (IRC) §414(u), to the extent paid to this Plan,<br />
shall be credited to the Member's individual account and any applicable<br />
interest or earnings on these make-up Member Contributions shall<br />
accrue on a prospective basis only.<br />
September 2004 40
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