University of California, Riverside

Human Resources



Benefits


Benefits: Facilitate Planning for the Future

The Benefits of Belonging

UC Riverside offers a comprehensive and competitive array of benefit choices. Employment benefits are an important part of your compensation package. Below is an overview of the benefits the University provides, depending on your type of appointment.

New Employee Benefits Orientation Webinars

 

Beginning June 3, 2016, Human Resources will offer new faculty and staff the option of participating in New Employee Benefits Orientations via live webinar. The live webinars are sponsored by UC Path and are designed to offer employees the flexibility to learn about UC health and welfare benefits and retirement plans on a mobile device or at their desk.
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Employees who are eligible for benefits and have not attended a benefits orientation in the past have the option to register and participate in a live webinar. 

The webinars will be held:

When: Weekly/Fridays
Time: 10:30 a.m. - 12:00 p.m.
How: Register online at http://www.ucrlearning.ucr.edu

 

University of California Regents Approve New Retirement Program for Future Employees

At its March 2016 meeting, the UC Board of Regents approved a new retirement program for future UC employees, as part of a broader effort to maintain the university’s excellence and sustain its long-term financial health. The new retirement program includes a cap on pensionable earnings for UC employees hired on or after July 1, 2016 that mirrors the limit on pensionable pay for state employees under the 2013 California Public Employees’ Pension Reform Act (PEPRA).  UC employees hired on or after July 1, 2016 will have a choice between two retirement benefits options:

Option 1

  • Pension benefit with PEPRA cap; applies to eligible pay up to $117k, plus 401(k)-style supplement; applies to eligible pay above $117k up to $265k (applies to all eligible pay up to $265k for faculty)
  • Employee contributions - 7% up to $265k
  • UC contributions
    • Pension benefit for all employees: 8% up to PEPRA cap
    • Supplement for eligible faculty: 5% on all pay up to $265k
    • Supplement for staff and other academics: 3% on pay above PEPRA cap up to $265k
    • Vesting - 5 years UC pension service credit

Option 2

  • 401(k)-style benefit that applies to eligible pay up to $265k
  • Employee contributions - 7% up to $265k
  • Employer Contributions
    • 8% for all employees up to $265k

Eligible employees must choose one option within an initial 90-day enrollment period. Employees who do not make a choice within the initial 90-day enrollment period will be enrolled in Option 1 by default.

You can find additional information about the new 2016 Retirement Program in UCnet.

2016 Benefits Orientation Schedule

We are pleased to announce the 2016 Benefits Orientation Schedule. All classes occur on the 1st Thursday of each month and will be held in the Human Resources Training Room located in University Village. For more information, please click here.

Bargaining Update:  UC, AFT Extends Contract to December 10

The University of California and the American Federation of Teachers have agreed to extend their existing contract for UC lecturers through December 10, 2015. The existing contract was originally set to expire this past June, and was previously extended to October 31, 2015. The new December 10 contract extension will ensure lecturers can enroll in 2016 benefits during Open Enrollment, which runs through November 24. UC and the AFT will continue to negotiate over the key issues, which include compensation, post-employment benefits and appointments, with the goal of reaching agreement by December 10.

Your UC Retirement Benefits

UC Retirement Benefits

UC offers a comprehensive array of retirement benefits, savings programs and educational and counseling resources to help you plan for retirement. For more information, visit Your UC Retirement Benefits webpage.

Financial Education and Guidance

UCR continues to offer retirement services and tools to assist faculty and staff in career-long financial planning and planning for retirement.

To sign up for an on-campus financial education class or schedule a one-on-one with a Fidelity Workplace Planning and Guidance Consultant (PGC), please take the following steps:

  1. Click the registration button below

  2. Choose your location or select live webinars

  3. Select the class or webinar on a date the works best for you

  4. Register for the class

Focus on Future Workshop Registration

The following resources are being provided to help you determine whether you are ready to retire.

How do you know if you are ready to retire

Regardless of what stage you are in for planning your retirement, whether it's in the next few months or even the next year or so, the first step of the process should be to view the Preparing for Retirement video. This presentation provides an overview of your UC retirement benefits, examples of retirement benefits calculations, and information about what you need to do to retire from UC. It consists of 8 brief modules. The full presentation lasts about 60 minutes, but you can also easily view those specific sections that interest you.

You are ready to retire, what are the next steps

If you have determined that you are ready to retire, the What to do if You're Preparing for Retirement website will walk you through the step-by step process to help you complete the application process and the election of your benefits.

The UC Retirement Plan (UCRP) is your resource to learn about the overall Retirement Plan, including: Retirement Savings Program, Retiree Health & Welfare Benefits, and how to enroll and participate in the plan. You will also be able to find valuable links to additional resources including the UC Focus on Your Future.

Retirement Counseling Resources

During the 2015/16 Retirement Season, Human Resources will have Theron Lyon, a dedicated retirement and Certified Financial Planner (CFP), available to meet with faculty and staff who are interested in receiving individual pre-retirement counseling and financial planning. You will be able to schedule an appointment directly with Mr. Lyon commencing on April 12 through June 30, 2016.

Throughout the year, faculty and staff have access to additional resources to help with pre-retirement counseling and financial planning. Those resources include:

  1. UC Retirement Administration Service Center (RASC)
    (800) 888-8267 / M-F / 8:30 a.m. – 4:30 p.m. (PT)
  2. UCRP Website: http://ucnet.universityofcalifornia.edu/compensation-and-benefits/retirement-benefits/ucrp/  
  3. A Complete Guide to UC Retirement Benefits
  4. Retiree Benefits Fact Sheet

Additional Retirement Resources

  • Retirement Services provided on Campus
  • Healthcare Facilitation for retirees
  • UCRP payroll deduction questions
  • Counseling on rehired retiree election forms
  • Counseling for survivors of deceased employees
  • Retirement Services Provided by RASC
  • Disability retirement counseling and election
  • Eligibility for retiree health insurance
  • Frequently asked questions
    • Vesting, Service credit, and buyback
    • Highest Average Plan Compensation (HAPC)
    • July 2013 Changes
    • Capital accumulation provision (CAP) inquiries
    • Reciprocity with CalPERS and CalSTRS
  • Personal retirement profiles and elections
  • Qualified domestic relations orders due to divorce
  • Refunds of UCRP contributions
  • Retirement Estimates
  • Retirement Services Transition FA

For more information or questions, please email the Benefits Office at benefits@ucr.edu.

More Information

General Campus Information

University of California, Riverside
900 University Ave.
Riverside, CA 92521
Tel: (951) 827-1012

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Department Information

Human Resources
1201 University Ave., Suite 208
Riverside, CA 92507

Fax: (951) 827-2672

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