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Defined Contribution

Aflac improves company match for 401(k) plan

Aflac Inc., Columbus, Ga., is raising the corporate match to its 401(k) plan this year to 100% on the first 4% of an employee's contribution from 50%.

The company also is making a $500 one-time contribution to each employee's retirement account. The Aflac Inc. 401(k) Savings and Profit Sharing Plan had $386 million in assets as of Dec. 31, 2016, according to its latest Form 5500 filing.Aflac said in a news release Dec. 28 it was making these and other changes to employees' benefits due to the new tax reform law signed by President Donald Trump.

"We are pleased that these tax reforms provide Aflac with an opportunity to increase our investments in initiatives that reflect our company values," Dan Amos, chairman and CEO, said in the release.

The company alsowill provide "certain hospital and accident insurance products to all employees free of charge," the news release said.

John Sullivan, a company spokesman, did not return a request for comment.