Commentary: UC Executives Threaten Lawsuit Over Pensions?
I think this falls under the category of really? Are you kidding me? But what has happened in the last week is that some of UC’s highest-paid employees – their executives – are now threatening to sue the UC system if the system does not boost their retirement pensions.
That is right, 36 employees making at least $245,000 per year have written a letter calling on UC to fulfill a promise to increase their pensions – this in the midst of the UC’s efforts to overhaul a system to make up for a $20-billion deficit caused by a 20-year hiatus in contributions to the fund.