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Washington U. cuts university contribution to employee retirement plans

Washington U. cuts university contribution to employee retirement plans

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Washington University closes dorms, suspends in-person classes

A Washington University engineering student, who declined identification, removes his belongings from his dormitory to move back home to Ballwin on Wednesday, March 11, 2020. A few other students on the South Danforth campus were doing the same as dorms were set to shutter Sunday from fear of the coronavirus. Students on spring break were told not to return to campus and to continue their classes online. Photo by Robert Cohen, rcohen@post-dispatch.com

Washington University has temporarily suspended its contributions to employees' retirement plans.

University leaders told employees in an email on Monday, saying the move will enable the university to bring back the majority of furloughed workers and protect compensation for faculty and staff.

Washington U. Chief Administrative Officer Henry Webber said that the changes will become effective Wednesday, July 1, and last the 2020-2021 fiscal year. Employee contributions to the retirement savings plan are not affected by the change.

The decision comes after the university furloughed 500 Danforth campus employees and 1,300 medical school employees in April, citing the “painful realities” of the coronavirus outbreak.

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