Collector - April 2018 - 7
Americollect Turns Tax
Reform Proceeds Into
Bonuses for Employees
ollowing passage of the Tax Cuts
and Jobs Act in December 2017,
ACA International member
company Americollect decided to share
the extra money it would be receiving with
President and CEO Kenlyn Gretz said
each of its approximately 250 employees will
receive a bonus next year.
"Since we will now be taxed less, I wanted
to take this opportunity and utilize this
financial benefit to give back to each of you,
our teammates, by directly impacting your
paycheck in the form of a bonus," Gretz
wrote in an email to employees after the law
was passed in December.
The tax savings will occur after taxes
are paid from 2018 income, according to
Gretz, and bonuses will be issued to all
employees in January 2019. Gretz also
noted that new employees who signed
on with Americollect by March 31 would
receive a similar structure of this tax
Gretz's efforts at Manitowoc, Wis.-based
Americollect caught the attention of local
media, including the Manitowoc Herald
Times Reporter and Fox 11 News.
"We find great joy in being able to provide
this bonus to the employees who really are
the heart and soul of what we do," Gretz said.
"Full-time employees can expect to see as
much as a $500 bonus come 2019 and even
part-time employees will included."
Gretz joins other companies in his area,
such as Associated Bank and AT&T, in
providing bonuses to employees through the
tax cuts, according to Fox 11 News.
"About two weeks ago, we looked and said,
'What are we going to do with this additional
money?' As a business owner, you want
to reinvest that into your people and your
company," Gretz told Fox 11 News.
Gretz said he also purchased new
technology for the company and the tax
cuts will in time help the company grow and
meet clients' needs.
"From a business standpoint, my best
investment is putting money back in my
company," he added in an interview with ACA
International. "We're really well-known in my
community, for me it's just a smart business
decision. In my mind, people can spend their
money better than the government."
It's Time to Submit Loomer-Mortenson
he ACA International Education Foundation is proud to offer the Loomer-Mortenson
Scholarship to individuals employed by or affiliated with the collection industry and
their children. These scholarships may be used to further their education at postsecondary colleges, universities, community or technical colleges.
The foundation would like to thank all who have contributed to make these scholarships
possible. As a result, in 2018 the foundation is increasing its scholarship offerings to $50,000,
with a focus on awarding 20 additional scholarships at the $1,000 level.
Applications must be submitted by May 15, 2018, and winners will be notified after July 1,
2018. Not all applicants will receive an award; however, all applicants will be notified regarding
the status of their applications.
For more information about the Loomer-Mortenson Scholarship or to download the
application, please visit www.acainternational.org/about/loomer-mortenson-scholarship.
Completed applications should be sent to: ACA International Education Foundation,
Loomer-Mortenson Scholarship Program, P.O. Box 390106, Minneapolis, MN 55439-0106.
You can also email them to email@example.com.