Kimberly Clark

K-C Benefits Buzz

In this edition of K-C Benefits Buzz, you'll find information on the 2020 Profit Sharing Contribution, financial wellness, growing your 401(k) savings, what's in store for tax time, and how the recently passed COVID relief may impact you.


2020 Profit Sharing Contribution

None of us could have ever predicted the challenges we’d face in 2020, both personally and professionally. What’s most remarkable is how we were still able to come together as one K-C to keep our employees safe and deliver to our customers. Whether the role you played was on the frontline making our in-demand products or supporting the critical back-end operations and projects necessary to keep K-C running, each of you were committed and pulled out all the stops to make it happen.

And because of your commitment, we had a record-breaking year. The adjusted Earnings Per Share (EPS) target not only measures K-C's performance, but it also helps determine the amount K-C contributes in annual discretionary profit sharing. This discretionary contribution ranges from 0% to 8% of your eligible earnings, with a target of 4%.

Based on our 2020 adjusted EPS of $7.74, K-C has exceeded our 4% target and contributed 4.6% of your eligible 2020 earnings into your 401(k) & Profit Sharing Plan (PSP).

View your contribution amount by logging in to netbenefits.com.


Financial Wellness

Managing your money can feel overwhelming. Between balancing your monthly spending, managing debt, and saving for your short- or long-term goals, sometimes it’s hard to know where to start.

That’s where Fidelity can help. With online webinars and tools available on netbenefits.com, you have the resources you need to create and manage your financial plan.

Attend an Online Workshop

Fidelity’s workshops are available 24/7 and provide financial tips from wherever you are. To watch a Fidelity webinar on-demand, go to netbenefits.com > Library > Workshops.

With a variety of topics to choose from, here are a few that may interest you:

Creating a Rainy Day Fund (12 minutes)
Learn tips to help you prepare for financial emergencies.

Managing Your Debt (12 minutes)
Get help making a plan to manage and pay down your debt in this mini-workshop.

Identify and Prioritize Your Savings Goal (20 minutes)
Learn how to create savings goals that are important to you and understand how you can achieve them.

Invest Confidently for Your Future (30 minutes)
Understand your investments and how to build a long-term investment plan you can feel confident about.

Maximize Social Security in Your Retirement Strategy (35 minutes)
Understand the different Social Security claiming strategies and take the next step to create your retirement income plan.

NetBenefits® Mobile App

Access your 401(k) account anytime, anywhere with the NetBenefits® mobile app. On the app, you can:

  • Review your account balances, investments, and personal rate of return.
  • Change contributions or investments.
  • Update your profile or beneficiaries.
  • Access articles, videos, podcasts, and interactive tools.

To get started, search for NetBenefits® in your phone’s app store.

Questions?

Call the Benefits Information Line at 800-551-2333 and select 401(k) & Pension from the phone menu. Fidelity representatives are available Monday through Friday, from 8:30 a.m. to 8:30 p.m. ET.

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Grow Your 401(k) Savings

Let the features of your 401(k) & PSP Plan do the work for you. The Annual Increase Program is a convenient and automatic way to increase your 401(k) contributions over time, at a rate that’s comfortable for you. You choose the contribution rate and timing, and Fidelity will handle the rest. The best part is that if things change you can update your elections at any time.

To get started:

  1. Log in to netbenefits.com and select Contribution Amount from the Quick Links dropdown menu.
  2. Click on Annual Increase Program.
  3. Choose your annual increase rate and the date you want the adjustment to occur each year.

Learn how much a small change in your 401(k) contributions can make a big difference over time by going to fidelity.com/powerofsmallamounts.

Annual Increase Program Example

Let’s say Katrina is currently contributing 8%, but her goal is to get to 15% over the next few years. This is how she uses the Annual Increase Program to get there.

Note: Information in this section was provided by Kimberly-Clark. Fidelity Investments is not responsible for this content.


Tax Time

Below is an overview of the tax-related documents you may receive for 2020 and any required action.

2020 Form W-2

Regardless of your delivery preference for your Form W-2, you can now view an electronic copy of your 2020 Form W-2 on the UltiPro portal by selecting W-2 on the main menu under Myself. If you elected to receive a paper Form W-2, these were mailed on January 25.

Other Tax Forms

Form Mail Date Description
Form 1099-SA Mailed in late January Shows funds withdrawn from an HSA in 2020; use to complete your tax return.
Form 1095 Mailed in late February Displays the months of the year that you and your eligible dependents were offered or enrolled in K-C medical coverage.
Form 5498-SA Will mail after the tax filing deadline on or after May 31 Includes information about all HSA contributions made for 2020; for your information only.

Questions?

  • For questions about your 2020 Form W-2: Contact the K-C Payroll Service Center by phone at 833-442-5275 or by email at mykcpay@ukg.com. Representatives are available Monday through Friday, from 8:30 a.m. to 8:30 p.m. ET.
  • For questions about your Health & Welfare tax forms (e.g., Form 1095): Call the K-C Benefits Information Line at 800-551-2333 and select the Health & Welfare option.

COVID Relief for Dependent Care Spending Accounts

New COVID relief was recently passed as part of the Consolidated Appropriations Act 2021. This relief gives employees more flexibility in paying for dependent care, since there are still many unknowns when it comes to COVID and a return to normalcy.

If you have elected or plan to elect a Dependent Care Spending Account (DCSA), here’s how the provisions of the Consolidated Appropriations Act 2021 may impact you.

  • Carryover: Unused DCSA funds from 2020 and 2021 may be carried over into the next year. Any unused funds as of December 31, 2022, will be forfeited.
  • Election Amount: You can elect, start, or stop your DCSA contribution in 2021 by selecting the Change in Dependent Care Cost or Provider qualifying life event on kcbenefitcompass.com. Note: If you make a mid-year election change, you can only submit eligible expenses you incur from the date of the event through the remainder of the year. Expenses incurred prior to your election change date are not eligible for reimbursement.
  • Maximum Age: You may claim expenses for dependents who turned 14 (previously age 13) in 2020.

Click here to learn more about the DCSA and the impact of the Consolidation Appropriations Act 2021.

Need last-minute care for your child or elderly family member?

Check out K-C's back-up care benefit from Bright Horizons that provides eligible employees with 10 subsidized child and/or adult care visits per year for as little as $15 a day (care center) or $6 an hour (in-home). To learn more, click here.


Did You Know?

You can talk to a licensed therapist or psychiatrist on your own schedule using LiveHealth Online. With the click of a button on your smartphone or computer, you can schedule a visit for $95 or less.

To learn more, click here.

Some of the benefits information in this newsletter may not apply to you.
This notice may include a discussion of Plan terms and policies. It is intended to be a brief description and cannot present all of the details of the Plan provisions. In all cases, the provisions of the applicable Plan will govern. Except for certain provisions subject to collective bargaining, Kimberly-Clark reserves the right to make changes to its benefits programs at any time.



Disclaimer

This site is provided to help Kimberly-Clark (K-C) employees better understand their benefit plans. It does not guarantee coverage under a plan and does not provide complete descriptions of K-C benefit plans. K-C reserves the right to change these plans at any time. In all cases, the formal Plan Documents will govern.

If you are an organized hourly employee covered by these plans, see your HR representative or other person designated at your unit for information on how your plan(s) may differ from the information on this site. You may also call the Benefits Information Line at 800-551-2333. Empyrean representatives are available Monday through Friday, 9 a.m. to 5 p.m. ET and Fidelity representatives are available Monday through Friday, 8:30 a.m. to 8:30 p.m. ET. From outside the U.S., dial your country’s toll-free AT&T Direct Access number then enter 800-551-2333.