Visa to boost contribution to US-based employees' retirement plan

The company will increase its 401(k) match to 5% of salary, up from 3%, which will take effect in late February.

Visa to boost contribution to US-based employees' retirement plan
A Visa credit card is seen on a computer keyboard in this picture illustration
By Reuters
Updated: Tue, Jan 09, 2018
10:33 am
Delhi, Reuters

Visa Inc said on Monday it would increase contributions to its U.S.-based employees` retirement savings plans as the world`s largest payment processor benefits from a new tax law.

The company will increase its 401(k) match to 5% of salary, up from 3%, which will take effect in late February.

The contribution is applicable only to Visa`s U.S. employees, but the company said it is exploring other global employee benefits and investments.