WHY UNIONIZE WITH UPTE?
THE UPTE DIFFERENCE: PENSION
Unionizing with UPTE will secure stronger pension benefits that will help us retain top physicians and safeguard our futures.
The table below compares the UPTE-negotiated UC Retirement Pension Modified 2013 Tier with the UC Retirement Pension 2016 Tier (PEPRA) for non-union.
Example: Physician with 20 Years of UC Service, $400,000 average salary (3 highest earning years), retiring or going to work elsewhere at age 60 in the year 2036.
~ $200,000 per year
Approx. annual pension amount
~ $96,840 per year
~ $3,800,00
Total pension received age 60 to 79*
*Average age of death in U.S.
~ $1,839,960
UCRP 2016 Tier (PEPRA)
Non-union employees
UCRP Modified 2013 Tier
UPTE-represented employees
No — maximum age factor reached at age 65 (1.8% factor if retiring at age 60)
Max age factor reached?
Yes — 2.5% reached at age 60
~ $269,000 (estimated 2036 PEPRA cap assuming 2.5% annual inflation adjustment)
Pension-able salary used
$400,000 (No PEPRA cap on earnings)