Senator Perdue & Congressman Ferguson Visit Aflac Employees
Friday, May 4th, 2018
U.S. Senator David Perdue (R-GA) and U.S. Representative Drew Ferguson (R-GA-03) visited Aflac’s World Headquarters in Columbus, Georgia to meet with employees about recent changes to the federal tax code. In response to savings from federal tax cuts, Aflac announced a $250 million increase in the company’s overall U.S. investment, which included raising their 401(k) match for every employee.
“It was great to see these changes to the tax code make it over the finish line, but it has been even better to see the positive impact they’re having on Georgia businesses and workers,” said Senator Perdue. “Each week companies like Aflac are announcing capital expenditure plans for the next few years, largely as a result of these tax cuts and regulatory rollbacks. During our visit with Aflac’s team, we heard about the positive impact the tax cuts are having on their bottom line and their personal budgets. This is great news, and it’s only the beginning. Thank you to the entire Aflac family for welcoming us today, and thank you for your commitment to improving our community and the lives of others.”
“Since the Tax Cuts and Jobs Act has been signed into law, I’ve heard from folks all over Georgia’s Third District who are seeing larger paychecks or able to invest in their businesses and communities because of the benefits of tax reform,” said Congressman Ferguson. “Aflac was one of the first companies in the Third District to pass on the benefits of tax reform to their employees, and I was thrilled to join Senator Perdue here today to talk about their success.”
“The response from Aflac employees who have received a one-time $500 contribution and an ongoing increase in Aflac’s contribution to their 401(k) retirement program, as well as investments in training and overall investments in our business as a result of the recent tax reforms has been outstanding,” said Aflac Chairman and CEO Dan Amos. “We are extremely pleased that the tax reforms have enabled us to add to our long-term commitment by sharing with our employees to help them build a better future for themselves and their families.”
Employees talk about the positive impact Aflac’s 401(k) contribution increases are having on their retirement plans.
James is the sales resolution manager and has been with Aflac for 18 years after retiring from the Navy. He is actively involved with Aflac’s philanthropy, raising thousands of dollars every year for the Beads of Courage program at the Aflac Cancer Center.
“As soon as I heard about what Aflac was doing with the tax reform dollars, I immediately figured out what it will mean to me and my family in the long term. Because of the 401(k) contribution, the 401(k) company increase and the three policies that Aflac is now giving to all employees, I will be receiving new benefits valued at about $3,000 per year. By the time I retire the 401(k) contributions, at a 5% rate of return, should net me about $20K in additional retirement funds. Aflac didn’t have to do this, and it is awesome for me and my family.”
Michael is the resource manager in the General Counsel’s office. He has four children ranging from nine years old to two years old. Michael and his wife, a nurse in Columbus, earn a good living, but having four children to raise, pay for college, weddings, and more means that every dollar counts.
“I appreciate everything that Aflac and the tax reforms are doing for me and my family because it focuses on the long term, not just today. I know that I will be working form many more years, but just knowing that my retirement is secure enables me and my wife to focus on what really matters today, which is being the best parents we can be.”
Tabatha is a customer service specialist. She is a single mother to her daughter who is four years old.
“As a single mother personal finances are very important to me, so I am very happy that Aflac is using the tax reform money to help me prepare for retirement so I can focus more on raising my daughter. Since she has had some health issues in the past, the fact that Aflac is now providing us with the accident and hospital policies free of charge is great too, because I would not have been able to afford them otherwise.”