Benefits March 27, 2009
Mich. United Way Suspends 403(b) Match
March 27, 2009 (PLANSPONSOR.com) -The United Way for
Southeastern Michigan has cut management and staff
compensation and suspended its 403(b) retirement plan match
for a year.
Reported by
Fred Schneyer
A Crain’s Detroit Business news report said the
agencylaid off 43 employees and plans to cut funding to
some of its nonprofit agency partners to make up for a
$10-million gap in workplace campaign revenue.
President and CEO Michael Brennan, in an e-mail sent
Monday to the agencies United Way funds, said the layoffs
and internal restructuring at United Way will cut $5
million.
Aside from the layoffs, United Way said that it also has
consolidated some positions and eliminated undisclosed,
long-term programs.