UCSF Medical Center Executive Demands More in Retirement Benefits

Thirty-six executives at University of California, including the CEO of UC San Francisco Medical Center, have threatened to sue unless UC increases their retirement benefits, according to a San Francisco Chronicle report.

The executives, who currently earn more than $245,000, want UC to calculate retirement benefits as a percentage of their entire salaries rather than the federally instituted limit of $245,000. Under UC’s current method, an employee earning $400,000 a year who retires after 30 years would receive an annual pension of $183,750. If the limit is lifted, the pension would climb to $300,000.

UCSF Medical Center CEO Mark Laret supports the pension plan change, along with the dean of UC Berkeley’s law school and the CIO of the UC system. UC President Mark Yudof opposes the increase.

The Internal Revenue Service approved UC’s waiver of the $245,000 cap in 2007, a courtesy often granted to tax-exempt institutions such as UC. The executives said it is UC’s legal, moral and ethical obligation to increase the benefits, according to a citation in the report.

Read the San Francisco Chronicle report on the retirement benefits for University of California executives.

Read more about UCSF Medical Center:

- UCSF Breaks Ground on $1.5B Medical Center at Mission Bay

- Hospital Leader to Know: Mark Laret, CEO of UCSF Medical Center

- CEO Mark Laret Discusses UCSF Medical Center's Rise From Near Financial Ruin to Recent Success, New Mission Bay Hospital

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