Founded in Neenah, WI in 1872, Kimberly-Clark is a multi-national personal care corporation that employs approximately 43,000 people worldwide. While the company is now headquartered in Texas, Kimberly-Clark still has a major presence in Wisconsin.
Last week, K-C announced they are laying off approximately 5,000 employees, many through a voluntary severance program.
John Weninger, CFP® of Endowment Wealth Management researched the Company’s Plan and the severance package. He compiled a list of important things to know about the company’s 401(k) plan, and also issues that K-C employees who are considering accepting the severance package should evaluate when making their decision.
In his blog post, 10 Things to Know About the K-C 401(k) Plan, John comments on the Plan’s wide ranging benefits and features, including annual contribution limits, Roth conversion features, profit sharing, vesting benefits, investment options, loan provisions, asset reallocation, rebalance notifications, and withdrawal provisions for both existing and former employees.
In K-C Voluntary Severance Package 2018, John covers the basic items employees should consider when reviewing a severance offer. Since 401(k) contributions cannot be made from severance pay, anyone thinking about accepting a severance should consider increasing their 401(k) contribution for their remaining employment.
John’s extensive reviews on this issue are posted to his blog at MyCompanyRetirementPlan.com. If you work for a major employer and would like to request that John review your company’s retirement plan on a future blog post, send him an email.
Educational purposes only. Not legal or tax advice. You should talk to an investment professional before making investment decisions.