Monday, September 27, 2010

SEX, its a pop culture reference

Bob Samuels has a post called Pensions, Lies and Videotape:: An Employee's Guide to UC's Propaganda - a must read. It is a reference to the movie Sex, Lies and Videotape for any of you who didn't get "it".

Personally, I was going to work on a post called "Rick Steves (Brostrom) takes UCOP" or something - but I really had not so much to say about the retirement townhall - which was no townhall imo-

-the bussed in small audience of "acceptable staff people" who asked questions in some basement somewhere vs the online questions etc.

-a chat session that had some important comments and questions that were never answered and anonymous online chat administrators said "could not be archived" (I copy and pasted a large section of it -drop a line if you want me to add it in here)

-the silliness of Brostrom and Duckett taking off their ties to show their casual friday working class affinity and undershirts - did Duckett use that tactic with the auto folks before the industry tanked and he came out UCOP way?

-mind you this "townhall" happened just a day after Pence, Boehner did the same thing in plaid pendletons and workshirts with their "pledge"- it just looked like déjà vu all over again but with no faux G. I. Joe (Pence) or Tan Man (Boehner) in the mix- but we don't want to get all political on ya.

I started to "live blog" it (the UCOP townhall) on Friday but my first line was "I don't believe anything these people at the table have to say, except for maybe Anderson" - and realized my beautiful Friday could be better spent --and we could all just live out our golden years in cardboard shanties along the faculty glade.

Funny that we arrive at the same conclusions--

All I could think is "I don't trust these people". Take a look at the headline stories on the right to find out why.

P.S.
- ok, someone asked for it- see below:
chat copy and paste (the one that UCOP says could not be archived nor displayed for those who view the broadcast later on after the live feed)
11:05 smoyer01: Could I PLEASE get some online support to compel them to answer my earlier Appendix E question??
11:06 smoyer01: Since all of these individuals will greatly benefit monetarily from implementing Appendix E.
11:06 AndHello2U2: Next time people attending in person should have to submit their questions in writing, then they are presented/considered the same way online questions are presented
11:07 smoyer01: I'm quite disappointed. Online individuals are essentially allowed to view the conversation between the panel and the small group of individuals in the room.
11:07 RMBeach: What is Stif?
11:08 shtimseht: K8IFY – Thanks that helps. Go Slugs!
11:08 smoyer01: STIP
11:08 shtimseht: STIP -Short Term Invest Pool
11:09 LBNLemployees: With the credit system contracting and asset valuations falling. What is the contingency plan to avoid riding asset valuations to the floor. These events have happened often in history.
11:10 ucsc_gina: Please comment on appendix E. What makes this fair?
11:10 mlabriola: I'm quite interested in the possibility of an online calculator too. It would help make these complex options more transparant and their implications understandable to the average employee.
11:10 smoyer01: Yes, Appendix E. Thank you!
11:11 LBNLemployees: We are in the 6th Depresion of the modern financial age which is about 400 years last time was 80 years ago
11:11 Infotrader: My question: what is the currrent status of Roth 403b and why it is held back.
11:12 ktaft: yes, what is the status of roth 403b
11:12 dakane: What about tuition discounts for retirees' children?
11:13 charlessd: Is this a strategy for UC to get rid of the "older" more experienced employee, staff and replace with "younger" less experienced at less cost?
11:13 Infotrader: The Roth 403b question is for Prof. Anderson who is the chair of investment TF.
11:14 negotiate88: Certainly supplemental retirement benefits for SMG members is a specific benefit for a select group, how does that differ from tuition benefits for dependents of employees. This is a benefit offered
11:14 negotiate88: by Stanford one of the univerity's comparator institutions
11:14 pdy65: Yes Appendix E please explain
11:15 ktaft: is an explanation of appendix e online somewhere
11:15 smoyer01: negotiate88. Quite right. Please ask them WHY they are recommending the Appendix E benefit for highly compensated individuals?
11:16 smoyer01: Thank you.
11:16 negotiate88: Does the University get any tax benefit from the Obama Health Care Plan?
11:16 dogberto-1: likewise, health/dental/vision insurance for dependants is also a benefit for a selected group
11:17 giusi18: can the panelists answer why we can't have a plan in which I manage the money, since is my pension money afterall, instead of someone else that I don't even know
11:17 dogberto-1: the DCP, 203, and 457 aren't sufficient?
11:18 dogberto-1: (@ giusi18)
11:18 dogberto-1: 403
11:18 smoyer01: The question was WHY PEB recommended this? Please ask Mr. Pitts to answer the question please
11:18 ktaft: seems those falling in the Appendix E category, should have been furloughed on the ENTIRE amout too....
11:19 negotiate88: Doesn't the Appendix E advantage the SMG hired after 1994? Again, discrimination against the lower paid employees in pension and pay.
11:19 smoyer01: Pitts just explained what the recommendation was, not WHY they recommended implementation as part of the PEB taskforce recommendations.
11:20 Infotrader: What is why Roth 403b is so important, since Regular 403, 457, DCP are all in the same tax category.
11:20 edwardfields: Has UC applied to be part of the Health Care Act, Early Retiree Reinsurance Program? This money should reduce UC's costs for health care for retirees under age 65.
11:20 mtrust1: younger emloyees would benefit from a Roth account in that the tax rate may be lower and there are no future taxes on earnings.
11:20 smoyer01: The question was WHY did the taskforce feel that increasing benefits for highly compensated individuals was appropriate as part of their recommendations??
11:20 Infotrader: What is why Roth 403b is so important, since Regular 403, 457, DCP are all in the same tax category.
11:20 edwardfields: Has UC applied to be part of the Health Care Act, Early Retiree Reinsurance Program? This money should reduce UC's costs for health care for retirees under age 65.
11:20 mtrust1: younger emloyees would benefit from a Roth account in that the tax rate may be lower and there are no future taxes on earnings.
11:20 smoyer01: The question was WHY did the taskforce feel that increasing benefits for highly compensated individuals was appropriate as part of their recommendations??
11:21 smoyer01: Moderator: I would very much appreciate that my question regarding Appendix E be fully addressed on the website.
11:21 smoyer01: Thank you.
11:22 CdkRetrd: Someone asked about recording the text. It's simple to copy & paste into a Word document.
11:22 K8IFY: Yes, copy & paste, but that is only for the current chat stream (15 minutes?)
11:23 gcepparo: Is there any anticipated change to dependent coverage? Some employees have a benefit rate of 50% because of families and others only at 17% as a single employee. This is inequitable to single EE.
11:23 CdkRetrd: I'm doing it periodically to save as much as I can get.
11:23 charlessd: How will you make it easy for the employee to make a decision about what to do? online calculator, individual HR consultation?
11:24 K8IFY: CdkRetrd - I didn't think about doing that, though it's not an efficient way for the rest of us.
11:24 CdkRetrd: Did I miss it or have they addressed exactly how current retirees medical coverage will be affected?
11:24 Infotrader: What are those firms?
11:25 dogberto-1: i thiink they touched on it briefly CdkRetrd
11:25 dogberto-1: something about 90% UC contribution decreasing to 70% over time
11:26 kvalerio-1: It would be nice to have a calculator for future employees - we may have family or firends we would either encourage or perhaps discourage to consider UC as a career option
11:26 egran001-1: The broadcast will be saved and posted to : http://universityofcalifornia.edu/sites/ucrpfuture/ in the next day or so.
11:26 ktaft: excellent
11:26 ucihr01: thanks egran001!
11:27 K8IFY: Why the accellerated push to make a decision on these extremely complex proposals that will change the UC sytem so signficantly?
11:27 GJC96: I hear that our benefits won't change but I read that only people with service credit+age >= 50 will be unaffected. Please clarify.
11:27 JohnValdez: Is it true that PPS cannot even handle the calculations neccesary for any of the proposed new plans?
11:28 Infotrader: GJC96, that was what I asked. It sounds like the panel does know what is in the report.
11:28 Infotrader: does not know
11:29 cmusselman-1: Why can't an employee designate a non-spouse as a dependent for retirement survivor benefits? That you have to chose a spouse or domestic partner discriminates against non-married employees.
11:30 GJC96: Infortrader, thanks I was bumped offline for a bit - must have missed that part
11:30 cmusselman-1: I'm specifically referring to nopn-children, non-parental relatives.
11:30 dogberto-1: thanks egran001 for moderating
11:30 ktaft: thanks to the entire panel......nice to see technology deployed so well!
11:30 egran001-1: All, we have collected all of the questions from this broadcast. Please remember you can submit questions and comment on our website http://universityofcalifornia.edu/sites/ucrpfuture/
11:31 JennieRush: thank you!
11:31 ucihr01: thanks!
11:31 Infotrader: GJC96: they sound like all current employees will be grandfathered in, but I read in report is age + service = 50+
11:31 egran001-1: We will be updating the Q&A Section of the website overtime, as well as posting new information on the future of UC Retirement Benefits
11:31 egran001-1: We will be updating the Q&A Section of the website overtime, as well as posting new information on the future of UC Retirement Benefits

1 comment:

  1. a chat session that had some important comments and questions that were never answered and anonymous online chat administrators said "could not be archived"

    Yes, please add.

    ReplyDelete