COLUMBUS, Ga., Dec. 28, 2017 /PRNewswire/
-- Aflac Incorporated (NYSE: AFL), the leading provider of
voluntary insurance sales at the worksite
in the U.S. today announced that, as a result
of the recent tax reforms enacted by Congress and signed into law
by the president, it intends to invest in several key areas that
will provide long-term benefits for employees in the form of
helping them plan for healthy retirements, enable strategic
investments aimed at growing the overall business and strengthen
the company's 22-year commitment to supporting childhood cancer
initiatives.
Effective in 2018, Aflac makes the following commitment to our
U.S. workforce:
- Increase the company's 401(k) match, from 50% to 100% on the
first 4% of employee contribution, while making a one-time
contribution of $500 to every
employee's 401(k) plan.
- Offer certain hospital and accident
insurance products to all employees free of charge, as
the company currently does with its core cancer insurance
product.
Aflac expects to increase overall investment in the U.S. by
approximately $250 million over three
to five years. Strategic investments target continued growth in the
company's United States operation,
expanded employee benefits and training programs as well as
investing in technology and digital businesses like Empowered,
a company headquartered in North Carolina and owned by Aflac which
recently expanded its office space to accommodate growth. Finally,
Aflac will continue a long tradition of giving back to
the community with a renewed and strengthened focus on the
company's long-term commitment to childhood cancer programs.
"We are pleased that these tax reforms provide Aflac
with an opportunity to increase our investments in
initiatives that reflect our company values; providing for
our employees in the long and short term,
ensuring future growth for our company and giving
back to the community," Aflac Chairman and CEO Dan Amos said. "We will use these
funds to help secure healthy retirements, develop
employee skills in an evolving global business climate, and provide
additional protections for our workers and their
families. At the same time, we
will strategically invest in growing our business,
while increasing our commitment to children and families
facing childhood cancer."
Aflac, which has been named to Fortune's list of the 100
Best Companies to Work For for 19 consecutive years, has a
lengthy history of ensuring employees share in the company's
success. In addition to 401(k) contributions, the company provides
annual profit-sharing bonuses to all employees based on company and
individual performance. Aflac offers scholarships for children and
grandchildren of employees as well as providing the largest on-site
child care facility of any company in the state of Georgia. At the same time, Aflac has remained
the leader in its industry while growing to insure more than 50
million people worldwide. The company has also raised and
contributed more than $120 million
for the research and treatment of childhood cancer.
About Aflac
When a policyholder gets sick or hurt, Aflac pays cash benefits
fast. For more than six decades, Aflac insurance policies have
given policyholders the opportunity to focus on recovery, not
financial stress. In the United
States, Aflac is the leader in voluntary insurance sales at
the worksite. Through its trailblazing One Day PaySM
initiative, Aflac U.S. can receive, process, approve and disburse
payment for eligible claims in one business day. In Japan, Aflac is the leading provider of
medical and cancer insurance and insures 1 in 4 households. Aflac
insurance products help provide protection to more than 50 million
people worldwide. For 11 consecutive years, Ethisphere has
recognized Aflac as one of the World's Most Ethical Companies. In
2017, Fortune magazine recognized Aflac as one of the 100 Best
Companies to Work for in America for the 19th consecutive year and
in 2017 included Aflac on its list of Most Admired Companies for
the 16th time. Aflac Incorporated is a Fortune 500 company listed
on the New York Stock Exchange under the symbol AFL. To find out
more about Aflac and One Day PaySM, visit aflac.com or
aflac.com/espanol.
Aflac herein means American Family Life Assurance Company of
Columbus and American Family Life
Assurance Company of New York.
Media contacts – Jon Sullivan, 706.763.4813 or
jsullivan@aflac.com
Aflac analyst and investor contact – David A. Young, 706.596.3264 or 800.235.2667,
FAX 706.324.6330, or dyoung@aflac.com
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SOURCE Aflac