Cigna Raises Minimum Wage; Adds $30 Mln To Employee 401(k) Match Program

(RTTNews) - Cigna (CI) announced that the net financial benefits of United States tax reform will allow the company to further accelerate investments in its employees. Effective immediately, the company is establishing a minimum wage across its U.S. employee base of $16 an hour, substantially exceeding the national minimum wage in the United States. Cigna will also provide salary increases above the $16 an hour level, largely to front line employees. These investments in employee wages will total more than $15 million.

Additionally, Cigna is adding $30 million to its 401(k) program to match an additional one percent of employee compensation contributed to the 401(k) in 2018. This match will benefit the retirement accounts of over 30,000 employees.