President Napolitano’s formal proposal for a new pension tier has been posted in the Agenda for next week’s Regents’ Meeting. I do not have time today to offer a detailed reading of it (although Chris and I hope to have something up soon). But on first glance it does differ in some significant ways from the majority positions of the Retirement Options Task Force that President Napolitano had appointed last fall. The pension options for faculty (especially faculty who are hired at a salary below the PEPRA cap) appear to be better than the ROTF proposed while the pension options for staff are worse than the ROTF proposed. One thing that hasn’t changed is that retirement benefits for the proposed 2016 Tier will be worse than for the 2013 Tier, let alone the 1976 Tier that includes all pre-2013 employees.