January 5, 2018

More CT employers issue bonuses in wake of tax reform

The Hartford and Massachusetts lender Berkshire Hills Bancorp Inc., with Hartford operations, have joined the cavalcade of Connecticut employers extending bonuses to their workers and raising pay in the wake of federal tax reform.

The Hartford's CEO and chairman Chris Swift told HBJ Friday that his company will be handing out $1,000 bonuses to employees who make less than $75,000 a year. That will benefit about 9,500 of the company's 19,000 employees, he said.

Meantime, Berkshire, the Pittsfield, Mass. bank with regional operations in downtown Hartford, announced one-time $1,000 payouts to more than 1,000 full-time staff. That's atop their $500 holiday bonuses paid in the fourth quarter, Berkshire said. It also raised starting pay to $15 hourly.

The bank also announced a $2 million contribution to its Berkshire Bank Foundation, which supports charities, scholarships and volunteerism in the bank's markets.

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