Who should pay for any negative impact of the final asset transfer on UCRS?
The timing of the final asset transfer of LANL coincides with the resumption of employee contributions to UCRS. It would be easy for UC to demonstrate that this is a mere coincidence by showing that the asset transfer is beneficial to UCRS. If it is not, we can reasonably ask whether next years employee contributions will effectively subsidize the asset transfer while concealing its short-term effects. If the California Legislature believes that UCs role in the privatized management of the labs is in the public interest, the statenot UC employeesshould compensate UCRS for any decline in its present hypothetical Funding Ratio. If DOE believes this, it could be expected to do likewise, and to address separately whatever underfunding remains at LANL. You encouraged me to believe on January 29 that you had requested such an assurance from DOE, and that, without DOEs unequivocal commitment to fund shortfalls in UCRS, UC might not go forward with the final asset transfer. If DOE has made thi
