UC’s Pension Fiasco

The UC Board of Regents is Raising Tuition to Fund Its Woefully Mismanaged Pension System.

 By Lawrence J. McQuillan January 5, 2015

The University of California’s Board of Regents recently voted to increase student tuition up to 25 percent over the next five years. UC president Janet Napolitano said the tuition hike was necessary “to maintain the University of California in terms of academic excellence.” But the real reason for the tuition increase is that the UC system needs funds to bail out the mismanaged pension system that covers retired employees of its ten campuses.

Let this be a lesson to the rest of the country: Public officials rarely take responsibility for the messes they make. Rather, they deny culpability and send the bills to the public they’re supposed to serve......To Read More.....