85 employees reported this benefit
100% medical after only 20 yrs
Pension after 5 years or you can go with a 401k
It depends when you started. If you started 50 years ago, its amazing compare to recent hires.
The worse thing about the retirement plan is that you have to work for five years before you are fully vested. If you leave before five years you get nothing.
Excellent but I wish that UCLA wpuld start contributing earlier
It's not optional obviously and so you get ripped off each paycheck paying for someone elses retirement plan.
If you are not retirement age, consider your exit plan and consult with a planner.
They run a traditional pension plan that forces you to pay into it with double the contribution from UC. However, you must be vested to take full advantage and it is mandatory so you have no control over it.
Defined Benefit Plans (Pensions) are very rare these days
I don't know much about their Retirement Plan, but I believe if you work there for over 5 years and over 20 years the benefits you receive when you retire are exponentially greater