Northwestern University, facing budgetary shortfalls, takes remarkable step of suspending all retirement contributions for faculty and staff...

...among other measures, but this is the most significant one in dollar amount, since Northwestern contributes 5% of salary for every employee and up to 5% in a matching contribution:  so this will be at least a 5% cut in compensation for all employees, and a 10% cut for most.   The suspension of retirement contributions is effective through the end of the calendar year.

ADDENDUM:  Johns Hopkins is suspending retirement contributions for a full 12 months!