The university offered workers an annual increase of 3% over four years and an annual cap of $25 for any monthly premium increase, said UC spokeswoman Claire Doan. A proposal to raise the retirement age to 65 to qualify for full benefits would apply only to new employees who choose a pension instead of a 401(k) plan, she said. UC would sweeten the pot by reducing employees' retirement contribution from 9% to 7%.

Source: Los Angeles Times May 06, 2018 21:00 UTC