As the economy is in the early phases of absorbing a dramatic cut to the corporate tax rate, more sponsors of 401(k) plans are considering raising contributions, according to a survey from Willis Towers Watson.
More than a quarter of employers reported they have, or are considering, increasing contributions in light of the windfall from the tax bill passed last December, which cut the corporate tax rate from 35 percent to 21 percent.
And 34 percent said they are considering expanding financial education programs for workers. About 20 percent said they were considering accelerating contributions to defined benefit plans, according to the survey, which queried 333 large and midsized employers.
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