Luther College to temporarily stop its contributions to employee retirement funds
Posted: Sun, May 17, 2020 3:42 PM
Luther College is announcing that it will be temporarily suspending its contributions to retirement funds through the next fiscal year.
Such contributions are a significant expense for the college, so the step will significantly reduce its expenses for the coming school year.
In announcing the step, Luther College President Jenifer Ward said, "I do not take these decisions lightly, as they will require personal sacrifice from every member of the faculty and staff at a time when each of us will also be asked to help the college navigate the challenges presented by the pandemic.
She concluded by saying, "We can and will weather this storm. But first we have to go through it."