AmFam boosts wages, benefits
American Family Insurance announced new benefits for employees due to the federal tax cuts. Among them, 11,000 workers will receive a one-time bonus of $1,000 (excluding officers and the board of directors), and independent contractor agents will be able to achieve higher incentives for customer satisfaction, a news release from the company states.
The insurance company will contribute $10 million to its Dreams Foundation, which supports programs and provides grants to nonprofits. In 2018, the Foundation will provide a 2-to-1 match for employee and agent donations to qualifying charities, up from a 1-to-1 match.
Permanent benefit enhancements will also be made to tuition reimbursement programs and expanding family leave policies. In 2017, AmFam announced an increase in its minimum hourly pay rate for employees to $15 per hour.