- $10 billion in unfunded liability
- 56,000 current retirees, and another 116,000 employees near retirement
- Employees can begin collecting pensions at age 50 and receive maximum benefits at 60
- Pensions are based on the average of their top-earning years
- There are 2,129 UC retirees drawing annual pensions of more than $100,000, 57 with annual pensions exceeding $200,000, and 3 with annual pensions in excess of $300,000.
Here's the link to the AP article:
Here's a link to the UC Retirement Benefits website, which has information about the steps UC is taking to address the issues: