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The UC Board of Regents convened on Wednesday at UCLA to discuss a proposed university debt policy to govern the use, structuring and management of growing systemwide debt.
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The UC Board of Regents approved an action item at their meeting on July 17th to increase the rates of contributions made by the university and its faculty and staff to the UC Retirement Plan (UCRP) for the 2014-2015 school year.
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Despite UC demands that Cerberus Capital Management sell a firearms manufacturer associated with the Newtown, Conn. shootings, complications in the sale have prompted the possibility that the university may withdraw significant investments from the firm.
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Through its retirement plan, the UC has invested millions of dollars in the manufacturer of the assault rifle used in the shootings at Sandy Hook Elementary School in Newtown, Conn. last week.
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The funding status of the UC Retirement Plan deteriorated significantly in the last fiscal year, according to a report presented at the UC Board of Regents meeting Thursday.
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