CUE-Teamsters Expose Hidden Costs To Employees In UC's Retirement Plan
(SAN FRANCISCO) – CUE-Teamsters told the University of California’s Board of Regents and UC President Mark Yudof today that their plan for benefit reductions unfairly targets lower income employees.
The Teamsters hired an independent actuarial firm to review the data made available by the university. Results show that under the university’s plan, CUE-Teamsters will not only continue paying a higher percentage of their incomes towards benefits, but their benefits would be reduced while higher-income employees’ benefits would remain unchanged.
“We want fairness on the job,” said Anytra Henderson, Acting President of Local 2010. “It’s time for the university to resolve our outstanding contract issues, and come up with a positive solution to the wage disparity.”
CUE-Teamsters Local 2010 represents 14,000 clerical staff and administrative assistants who have been working with no contract for two years and have seen no wage increases for three. Cheiron (a full-service actuarial and financial consultancy with several offices around the country, including Portland, OR) found that UC clerical staff would receive a smaller benefit for each dollar contributed.
“These employees have a lower average age and a lower average period of service than the university system as a whole,” said Bill Hallmark, a senior retirement consultant with Cheiron. “Consequently, the cost to the university per dollar of benefits is lower for the CUE-Teamster unit.”
“Our members deserve a good contract with competitive salaries,” Henderson said. “Right now, the university wants to obligate more and more of our current take-home pay and reduce our benefits. This is not the right way to attract and retain quality staff at one of America’s top universities.”
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico. For more information, please visit www.Teamster.org.
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