Gerry Canavan

the smartest kid on earth

The Rich Are Different from You and Me

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Three dozen of the University of California’s highest-paid executives are threatening to sue unless UC agrees to spend tens of millions of dollars to dramatically increase retirement benefits for employees earning more than $245,000.

Their demand comes as UC is trying to eliminate a vast, $21.6 billion unfunded pension obligation by reducing benefits for future employees, raising the retirement age, requiring employees to pay more into UC’s pension fund and boosting tuition.

UPDATE: Or just read zunguzungu and Chris Newfield.

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