The successful passage of tax reform is enabling Aflac Inc. to boost its U.S. investments by about $250 million over three to five years, the carrier announced last week.
Starting in 2018, the Columbus, Georgia-based U.S. unit of the Japanese company will enhance workforce benefits, make strategic investments in U.S. operations and increase philanthropic giving.
Aflac will increase the company's 401(k) match, from 50 percent to 100 percent on the first 4 percent of employee contribution, while making a one-time contribution of $500 to every employee's 401(k) plan. The carrier will also offer certain hospital and accident insurance products to all employees free of charge, as Aflac currently does with its core cancer insurance product.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Katie Kuehner-Hebert
Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.
