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Defined Contribution

Kroger to increase company match for DC plan

The Kroger Co.said Monday it would raise its defined contribution corporate match to 5% of annual pay from 4%. A timetable wasn't announced.

The company attributed the higher match plus other financial enhancements to enactment of the Tax Cuts and Jobs Act. W. Rodney McMullen, Kroger's chairman and CEO, called the law "a catalyst" in a news release.

The Kroger Defined Contribution Plan Master Trust, Cincinnati, had $7.32 billion in assets as of Dec. 31, 2016, according to the company's latest Form 5500 filing.

Spokeswoman Kristal Howard could not be reached for comment.