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What benefits does Hewitt Kimberly-Clark offer?

A:

Quick Answer

Aon Hewitt offers the Kimberly-Clark Corporation employee benefits portal, which provides information about health insurance benefits, family leave, employee discounts and retirement plans offered by Kimberly-Clark. Hewitt manages the Kimberly-Clark 401(k) and profit sharing plans, according to the company, and provides financial planning advice through the website at MyKcBenefits.com. Hewitt also manages the defined-benefit pension plan for Kimberly-Clark Corporation retirees and maintains a separate online portal for that plan at Resources.Hewitt.com/kcc.

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Full Answer

Aon Hewitt is a consulting firm that provides retirement and health insurance solutions to over 20,000 corporate clients as of 2016, according to the company. The Hewitt subsidiary managed defined-benefit pension plans for more than 140 employers in the United States in 2015, and served more than 8 million retirement plan participants in that role.

Kimberly-Clark announced in 2009 that it would stop allowing new participants into its defined-benefits pension plan and that employees hired after January 1, 2010 are eligible only for 401(k) and pension-sharing plans, according to Aon Hewitt. It also froze pension plan earnings and accumulations as of that date, an action which, according to Forbes, resulted in a steep drop in the value of existing plans. Aon Hewitt assisted Kimberly-Clark in a further transfer of some pension plans to Prudential Insurance Company of America and Massachusetts Mutual Life Insurance Company in 2015.

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