University of California imposing retirement cuts

By Doug Cunningham

[ToddStenhouse]: “There is a new front in the war on America’s middle class and it is happening at the University of California today.”

AFSCME 3299’s Todd Stenhouse. The University of California is imposing retirement cuts on 22,000 workers that will cost more than a billion dollars in increased health insurance premiums when they retire. Stenhouse says this is happening while the university if fiercely defending golden parachute style retirement plans for executives while cutting retiree health care for workers who average $35 – $55,000 a year.

[Todd Stenhouse 2]: “UC has been hell-bent and focused on protecting the most outrageous and unsustainable executive pension system, frankly of any public employee that I’ve ever heard of. There are over two thousand UC pensioners who are making between $100,000 and $300,000 a year in terms of payouts. And that money is being subsidized by cuts to the system’s lowest-wage workers, by skyrocketing tuition, by cutting corners on patient care. And it is wrong. It is fundamentally wrong.”

AFSCME 3299 is vowing to fight hard against these imposed retiree health care cuts.

[Source]: LaborRadio.org