By Maria Armental

Cigna Corp. (CI) is raising its minimum wage and boosting salaries and retirement benefits for some workers, passing through some of the benefits from recent changes to U.S. tax law.

The insurer on Wednesday said it had set its minimum wage at $16 an hour--well above the federal minimum--and said it would add $15 million for salary raises above the $16-an-hour level and add $30 million to the company's 401(k) match program.

"Reinvesting a portion of savings from tax reform in our employees is a reinvestment in our mission," Chief Executive David Cordani said in a prepared statement.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

January 31, 2018 17:43 ET (22:43 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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