AutoNation Latest to Boost Benefits in Wake of Tax Overhaul

Employee Benefits News examines legal developments that impact the employee benefits and executive compensation employers provide, including federal and state legislation, rules from federal...

By Kristen Ricaurte Knebel

AutoNation Inc. is the latest company to boost employee benefits in the wake of passage of the tax overhaul, the company announced today.

The automotive retailer will double its 401(k) match for employees and will also match 100 percent of the first $5,500 contributed to the deferred compensation plan, the company said.

In addition, the company recently launched a benefit program for employees and family members diagnosed with cancer.

AutoNation is the most recent in a line of companies, including Visa, Nationwide Mutual Insurance Co., Aflac Inc., and Sun Trust Banks Inc., to make increases to their 401(k) plan matching contributions in response to the Republican tax bill signed into law by President Donald Trump on Dec. 22.

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