Living Their Best Life: MetLife Raises Minimum Wage, Provides $75,000 Life Insurance Benefits Because of Tax Cuts and Jobs Act
WASHINGTON, D.C. – MetLife provided economic insurance for their employees today by announcing the company will raise their minimum wage to $15 an hour and provide a $75,000 life insurance policy regardless of an employee’s pay because of the Tax Cuts and Jobs Act. Additionally, the company will give a $300 minimum monthly credit for employee pension plans.
MetLife joins the well-over 300 other companies and counting that are announcing pay raises, over $3 billion in bonuses, better benefits, and more hiring as a result of the Tax Cuts and Jobs Act.
Will Democrats still claim the Tax Cuts and Jobs Act has life-threatening consequences, or will they acknowledge that it in fact is improving lives of millions of workers across the country?
To see MetLife’s full announcement, click here or see below.
To see the growing number of companies increasing wages, investments, jobs, and bonuses because of the Tax Cuts and Jobs Act, click here.
Nasdaq: MetLife to Make Significant Investment in Its Employees on Tax Reform
February 12, 2018
(RTTNews.com) – MetLife, Inc. ( MET ) announced that in light of tax reform, the company will increase the investment it makes in its employees. For all eligible U.S. employees, MetLife established a company minimum wage of $15 an hour, well above the federal minimum wage of $7.25 an hour. The company will also create a new $10 million skills development fund to help its employees around the world upgrade their workplace skills.
MetLife’s enhanced programs also include: a minimum MetLife-provided group life insurance benefit of $75,000, regardless of the employee’s pay; and a $300 minimum monthly credit for the cash-balance formula of the benefit pension plan.
MetLife also enhanced the 401(k) plan design by moving to auto-enrollment for employee contributions and immediate eligibility for, and vesting in, employer matching contributions.