The company needed to raise cash because its disbursements to retirees exceed contributions.
He proposed taxing such benefits once they exceeded the payroll contributions made by the recipient.
In 2011, for the first time in UC's history, student fees has exceeded contributions from the State of California.
It would also help pay off ongoing debt from previous generations, when retirees' benefits exceeded contributions to the system.
State election officials began to look into whether the company had exceeded its maximum allowable contributions to New York lawmakers last year, a state official said.
However, Richard G. Darman, director of O.M.B., has testified that the total costs to the United States of stopping Iraq were $61 billion, implying that American outlays exceeded foreign contributions by at least $7 billion.
It was realized then that, because of an aging population, future benefits would exceed contributions, requiring a sharp increase in payroll taxes later.
The gift helped the fund exceed total contributions for the same time last year.
Medicare spending, he said, exceeds contributions to the program, so a couple retiring this year will get $117,000 more in benefits over their lifetime than they paid in premiums.