April 29, 2022: COVID-19 Impact on Retirement


Dear Spartan Colleagues:

Throughout the pandemic, we’ve worked to keep MSU faculty and staff updated on the impact COVID-19 has had on our finances and operations at the university. We greatly appreciate the sacrifices many have made during these last two years and your continued dedication to our collective mission despite hardship.

One of the financial decisions that MSU leadership has made included reductions to its employer retirement contributions. This decision was implemented early in the pandemic when we were still uncertain about many of the impacts COVID-19 was yet to have on our institution. As several aspects of our financial position clarified, last fall, we were pleased to provide a $1,500 bonus for employees, recognizing the shared sacrifice and commitment of all.

This spring, there has been ongoing dialogue specifically regarding the employer retirement contribution reductions and a potential reallotment of funds. We’ve been pleased with the fruitful discussions and collaboration between many different campus groups and appreciative of our ability to work together.

We are planning to provide a one-time financial payment to affected faculty, academic staff and executive management, who are currently employed, to offset some of the financial implications of lost retirement contributions. This payment would represent 12 months of employer retirement contributions that were not made during the pandemic. We are still working out the process and details but it is our intention that this payment be made to affected employees this summer.

For support staff, who started experiencing the retirement reduction after Jan. 1, 2022, we are currently engaged in collaborative conversations to end that reduction 12 months earlier than initially planned.

Additional details on how these actions are being implemented are available in the FAQ material on Human Resource’s website.

Personally, I’ve enjoyed being able to attend many campus events this past month, full of celebrations and acknowledgements — it’s an invigorating feeling to end this semester this way when we reflect on our journey together these past two years.

Thank you all for helping us move forward together in this positive way.

Sincerely,

Samuel L. Stanley Jr., M.D. (he/him)
President