Brandeis Suspends Contributions to Retirement Funds

Brandeis University has told all employees that it will suspend for one year any institutional contributions to retirement funds. The university has been facing a serious budget shortfall, leading to a controversial plan -- currently under review -- to sell a highly regarded art collection. Many institutions have been trying of late to add retirement incentives to encourage more senior employees to consider retiring. Brandeis employees can continue to make their own contributions to their retirement accounts. The university will save $7.4 million by suspending its contributions.