Anonymous said...
I went to check on what is left of my retirement portfolio on uc bencom and saw this:
"Questions & Answers about Furlough/Salary Reductions Options"
Apparently, everyone in UC is going to take a 8% salary reduction! LBNL staff will be affected as well.
June 23, 2009 2:11 AM
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8 comments:
Gee an 8% cut in pay and soon have to start contributing to their pension plan anywhere from 8% to 16%, What a deal for the UC workers.
A far better deal than working at the LLNL
There is a caveat in the UC FACs sheet concerning LBNL employees being included in the 8% cut. The proposed inclusion of LBNL employees is pending investigation of DOE contractual agreements. The question is: will DOE allow their contracted funds to be used to help bail-out the State of California?
June 25, 2009 12:52 PM
He-ll no. The state made their own mess by making Ca an immigrant safe haven and an illegals paradise so as far as I'm concerned they can bail themselves out, and they can do it without my tax dollars too.
I'd rather take an 8% cut in pay and contribute to the retirement fund to still be part of the UC system and retirement plan.
even worse, schwarzen-twit is going to hand em iou's instead of money. Now that is a seroius pay cut.
When the US economic meltdown re-starts (it's not over, not by a long shot!), neither UCRP or TCP1 will be paying out what today's lab employees expect to receive.
Even worse, PBGC will soon be so overwhelmed with bankrupt pensions thrown on its doorstep, you won't even be seeing a promised PBGC pension insurance payout of 25 cents to the dollar.
There is going to be some serious poverty generated within the Baby Boomers that are preparing to retire. If you retire with large debts, it will be even harder to survive the approaching depression. Get rid of debts and start learning to live on the cheap. It will serve you well. The approaching bankruptcy of California is the latest sign that the next phase of the US economic collapse is about to begin.
LBNL employees will not be touched. Their money is not part of the state budget. You should have jumped ship when you had the chance. By now, LBNL has already cherry-picked the best LLNL employees, leaving the rest to whither on the vine.
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