Critics of the new tax law believed that the reduction of corporate rates wouldn't actually benefit those of the working classes. The early returns on the new bill indicate they were wrong. Corporations are lining up to share the benefits of the new bill with their employees, according to this article in the Washington Examiner. The list of companies offering increased participation in retirement programs, wage increases, and bonuses is long and staggering. They include Alaska Airlines, American Airlines, American Bank, Aquesta Financial, Delaware Supermarkets, JetBlue, Jordan Winery, Nationwide Insurance, Flood Insurance, Turning Point Brands, and many, many more. Some of these companies have announced increased charitable giving as well. Also mentioned is that participation in 401(k) programs is on the rise.
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Employees like 401k retirement plans, so much so that they represent the kind of benefit which can help small business owners attract new workers. That said, more than 70% of small businesses don't offer these plans. Why are these plans so popular, and why are so many small companies reticent to offer them?