Open Forum

Hello my fellow small museum folks—for those of you not attached to a higher ed institution, what insurance, investment, retirement options do you find affordable to offer to your employees? I’m seeking resources and advice.
I am in Texas to the extent that matters.

Thank you!

Wendie Cook

Executive Director
The Citadelle Art Museum
www.thecitadelle.org
806.323.8899 museum
806.217.1553 cell

Hi Wendy

Employers with fewer than 100 employees can offer a SIMPLE IRA to their folks. In my last position as director of a museum with fewer than 20 employees, I found this to be a straightforward and manageable solution. You're required to match 3% and your participating employees need only earn $5000 per year.  It was easy to set up and I did it myself through a Vanguard plan. Employees had the freedom to choose what funds to invest in. 

We did provide health insurance to employees and it was crazy expensive. Those plans will vary based on location. I recommend speaking with several insurance brokers in your area to get quotes. 

regards, 

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DIANE GUTENKAUF
Senior Assistant Director, Operations & Strategy

University of Illinois Urbana-Champaign
College of Fine and Applied Arts
Krannert Art Museum
500 East Peabody Drive | M/C 592
Champaign, IL 61820
217-333-3437 | dianeg3@illinois.edu
kam.illinois.edu

Under the Illinois Freedom of Information Act any written communication to or from university employees regarding university business is a public record and may be subject to public disclosure.
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