Kimberly-Clark Corp., Dallas, hired Fidelity Investments to administer its 401(k) & Profit Sharing Plan and its Supplemental Retirement 401(k) & Profit Sharing Plan, effective May 1, said a transition guide on the company's website.
Effective July 1, Fidelity will also administer Kimberly Clark's Pension Plan and Supplemental Benefit Plan.
Fidelity replaces Aon Hewitt, the plans' previous administrator. A full blackout period for participants is expected to start April 27 and end May 12. The reason for the switch could not be learned by press time.
The 401(k) investment lineups are not expected to change as a result of the transition to Fidelity.
As of Dec. 31, 2015, the 401(k) & Profit Sharing Plan had $3.3 billion in assets. As of Dec. 31, Kimberly-Clark had $3.5 billion in worldwide pension assets. Further information on plan assets could not be learned by press time. A Kimberly-Clark spokesman could not immediately be reached for additional information.
