FedEx Corporation (NYSE:FDX) is the next company to give its employees benefits thanks to the tax reform law.

FedEx says that it is planning to use $200 million to increase the wages of its employees. The company notes that the majority of these wage increases will be for its hourly workers. The increase to wages will start on April 1 and will take place over the next six months.

Any money that is remaining from the $200 million for wage increases won’t go to waste. FedEx is planning to use the remainder from this fund to hand out performance-based incentive plans for its salaried team members.

According to FedEx, it will also be contributing $1.5 billion to its pension plan. The company says that it is taking this action to ensure that the pension plan remains “one of the best funded retirement programs in the country.”

Along with these bonuses, FedEx is also planning to invest $1.5 billion into its Express hub in Indianapolis. This process will take seven years to complete. Going along with this are plans to modernize the Memphis SuperHub. More details about this will come out later this year.

FedEx isn’t the only company that is handing out bonuses and wage increase to employees thanks to the new tax reform legislation. Other companies that have been investing back into their employees include Home Depot Inc (NYSE:HD), Wal-Mart Stores Inc (NYSE:WMT), Starbucks Corporation (NASDAQ:SBUX) and Walt Disney Co (NYSE:DIS). There’s also still the possibility of more companies announcing bonuses in the near future.

As of this writing, William White did not hold a position in any of the aforementioned securities.