According to the White House's Council of Economic Advisers, almost 500 firms had announced bonuses or pay increases by April 8, affecting more than 5.5 million workers. (Photo: Shutterstock)
A majority of surveyed chief financial officers and finance executives expect the tightening labor market and new cash reserves resulting from a slashed corporate tax rate to lead to more wage increase by the end of the year.
Two-thirds of 127 senior executives surveyed by Prudential and CFO Research said they expect further wage increases.
Some considerable portion of those expected increases would benefit retirement savers. Over half of the executives—57 percent—expect to increase matches to 401(k) plans.
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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.
