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Tax reform prompts Visa to raise 401(k) match for employees
Source:
cnbc.com
- Jan 8, 2018
Global payment network company Visa said Monday it will strengthen contributions to employees' 401(k) savings plans, as a result of the recently passed Republican tax law.
"Tax reform in the United States will strengthen Visa's competitive position globally and create new opportunities for Visa to invest in our business," the company said in a statement. "With the additional 401(k) match, Visa's U.S. employees will enjoy a sustained benefit, consistent with the role they will play in building our business."
The company said it will increase its 401(k) match up to 5 percent of salary. Currently, it contributes $2 for every $1 an employee contributes, up to 3 percent of base pay, the statement said.
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Category: General Business
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