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Visa to boost contribution to U.S.-based employees’ retirement plan

(Reuters) – Visa Inc said on Monday it would increase contributions to its U.S.-based employees’ retirement savings plans as the world’s largest payment processor benefits from a new tax law.

The company will increase its 401(k) match to 5 percent of salary, up from 3 percent, which will take effect in late February.

The contribution is applicable only to Visa’s U.S. employees, but the company said it is exploring other global employee benefits and investments.