Aflac Inc., Columbus, Ga., is adopting the accumulated bout to its 401(k) plan this year to 100% on the aboriginal 4% of an employee’s addition from 50%.
The aggregation additionally is authoritative a $500 ancient addition to anniversary employee’s retirement account. The Aflac Inc. 401(k) Savings and Profit Sharing Plan had $386 actor in assets as of Dec. 31, 2016, according to its latest Form 5500 filing.Aflac said in a account absolution Dec. 28 it was authoritative these and added changes to employees’ allowances due to the new tax ameliorate law active by President Donald Trump.
“We are admiring that these tax reforms accommodate Aflac with an befalling to access our investments in initiatives that reflect our aggregation values,” Dan Amos, administrator and CEO, said in the release.
The aggregation also will accommodate “certain hospital and blow allowance articles to all advisers chargeless of charge,” the account absolution said.
John Sullivan, a aggregation spokesman, did not acknowledgment a appeal for comment.
Contact Robert Steyer at [email protected] · @Steyer_PI
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