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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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
