Michigan State University planning for possible salary and retirement cuts

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Michigan State University is looking into possible salary and retirement cuts, after being hard hit by the COVID-19 pandemic.

MSU President Samuel Stanley Jr. announced in a message to employees yesterday, that he is estimating around $50 million to $60 million in losses for fiscal year 2020, which ends June 30. He also announced some of the steps the university is taking to address the “shortfall.”

Below is a list of actions MSU announced:

In response, we are:

  • -Tightening the hiring chill and limiting the filling of vacancies
  • -Continuing to examine all capital projects to determine which can be paused, briefly delayed or indefinitely postponed
  • -Reducing or eliminating consultants wherever possible
  • -Continuing to limit travel
  • -Continuing pay reductions for executive management
  • -Implementing a minimum 3% budget reduction to academic and administrative units 

In addition, we are considering:

  • -Proposing campus-wide salary reductions in a scaled manner for all other employees
  • -Proposing reducing MSU’s above-the-match retirement plan contributions

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