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.

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.