The Chickens Are Roosting, Do YOU Know Where Your 403(b) Is?
Since the first day faculty began organizing United Academics, one of the requests our postdoctoral faculty had was for the union to fix the “PERS problem.” Postdocs and PIs were paying into PERS accounts, but since most postdocs were not state employees for more than 5 years, few were ever vesting in their accounts. The money paid in was remaining in the PERS system, but never benefitted the faculty for whom it was paid. It was also difficult for PIs to compete for grants because they had to include retirement payments into their cost calculations when applying for grants. Scientists…