2013 UCRP Faculty Pre-Retirement Workshop ... - Academic Affairs

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University of California Retirement Plan (UCRP) ‣ Provides for lifetime monthly retirement income or lump sum cashout: ‣ Monthly Benefit = ‣(Age factor) x (Years of UCRP service) x (HAPC) ‣ Lump Sum Cashout = ‣ Present-day value of projected lifetime basic retirement income, including COLAs Waives health insurance Waives rights to all other UCRP benefits (except CAP) Immediately taxable—unless rolled over The benefit you receive is independent from the amount ($$$s) you paid in 8
University of California Retirement Plan (UCRP) ‣ Employee Contributions: ‣ Currently 5.0%* (minus $19) on gross ‘X’ earnings ‣ July 1, 2013 ‣ Will increase to 6.5%* ‣ Employer Contributions: ‣ Currently 10% on gross ‘X’ earnings ‣ July 1, 2013 ‣ Will increase to 12% *Subject to collective bargaining 9
Page 2 and 3: University of California Retirement
Page 10: University of California Retirement
Page 16 and 17: UCRP Monthly Income Cost of Living
Page 20 and 21: UCRP Death Benefits 20
Page 22 and 23: UCRP Death Benefits Who’s Who •
Page 24 and 25: UCRP Survivor Income Benefits Post-
Page 26: University of California Retirement
Page 30 and 31: UCRP Pre-Retirement Survivor Benefi
Page 32 and 33: UCRP Disability Benefits 32
Page 34 and 35: UCRP Health Benefits 34
Page 36 and 37: UCRP Monthly Income Health Insuranc
Page 38 and 39: 2013 Retiree Net Cost Based on UC C
Page 40 and 41: UCRP Monthly - Income Other Insuran
Page 42: Resources ‣ Contact UCSF HR/Benef

2013 UCRP Faculty Pre-Retirement Workshop ... - Academic Affairs

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