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Benefits March 9, 2009
Milwaukee Museum Trims 401(k) Match
March 9, 2009 (PLANSPONSOR.com) - The Milwaukee
Public Museum's 401(k) match will be suspended through
August, for a $146,000 savings.
Reported by Fred Schneyer
The museum also announced $222,000 in wage savings through unpaid employee furloughs, the Milwaukee Journal Sentinel reports.
President Dan Finley said fewer people are going to the museum and donations have dipped, both reflections of the deepening economy downturn, according to the newspaper.
Museum attendance is down about $120,000, or 16%, this fiscal year, museum figures show. Attendance at the IMAX theater and planetarium also is down about $88,000 below the budgeted amount, the newspaper said.
Donations of $1.9 million are off about $400,000 this fiscal year from the museum’s budgeted amount.
Finley said no employees had been laid off, but he didn’t rule out the possibility of future layoffs if the economy does not begin to recover.