Money and Savings
Financial well-being means something different to everyone. We all start at different points, set different goals and save for the future differently. Wolters Kluwer offers benefits and programs that help you create a plan that works for you today while empowering you to achieve your long-term goals.
Benefits that make a difference for your money and savings include:
401(k) Plan
The Wolters Kluwer 401(k) Plan can help you save for retirement through tax-advantaged contributions from both you and Wolters Kluwer.
Wolters Kluwer helps support your retirement savings through:
- Matching contributions: Dollar-for-dollar match on the first 3% of eligible pay you contribute.
- Annual discretionary contribution: Up to 3% of eligible pay annually; amount can vary year to year.
- Student debt match program: Allows you to earn a Wolters Kluwer 401(k) plan match when you make payments toward your student loans. Student debt match program participants can receive a company match up to 3% annually in their 401(k) account through:
- Contributions to their retirement account.
- Payments toward their student loans.
- A combination of both options.
New hires are automatically enrolled in the 401(k) Plan at a 3% contribution rate to help maximize the company match. If you do not wish to participate, you must actively opt out of the plan.
Part-time employees become eligible for the 401(k) Plan after completing 1,000 hours of service.
When considering your retirement savings
- Understand automatic saving features. You are automatically enrolled in the 401(k), and contributions automatically increase each year, so it’s important to understand how it works so you can make the best savings choices for you and your family. Learn more.
- Evaluate how much to contribute. You can change your contribution amount at any time. Consider your financial goals, current needs and long-term retirement objectives when deciding how much to save. Learn about your contributions.
- Review your investment options. Your 401(k) contributions can be invested in a variety of options based on your financial goals and comfort with risk. You can review and update your investment elections at any time through Fidelity.
- Keep your beneficiaries up to date. Regularly review your beneficiary designations, especially after major life events such as marriage, divorce or the birth of a child. Your beneficiary designation determines who will receive your 401(k) account balance in the event of your death.
Health Savings Account (HSA)
An HSA is a tax-advantaged account available when you enroll in the Basic HSA or HSA Plus medical plan. You can use the account to pay for eligible health care expenses today or save the money for future needs.
Both you and Wolters Kluwer contribute to your HSA. Review contribution details.
An HSA comes with a triple-tax advantage:
- Your contributions go in tax free: Your contributions are made pre-tax
- Your contributions grow tax free: Your account balance accumulates tax-free interest and earnings
- Your withdrawals are tax free: Your funds are not taxed when you use them to pay for eligible health care expenses — including retiree medical expenses
When enrolling in coverage
- Review what medical plans are paired with an HSA. Both the Wolters Kluwer Basic HSA and HSA Plus options are HSA-eligible and include access to a Health Savings Account (HSA). Other medical plan options are not HSA-eligible.
- Decide how much to contribute. Each year, the IRS limits how much you can contribute. These annual maximums include your and Wolters Kluwer’s contributions:
- Employee only coverage: Contribute up to $4,500 in 2027.
- Other coverage tiers: Contribute up to $9,000 in 2027.
- If you are age 55 or older: Contribute up to an additional $1,000.
For more information, visit the IRS website.
- Consider your needs. How you use your HSA money is up to you. You can use it like a regular bank account to pay the health care bills you have today — or a savings or investment account that you can grow and use for health care bills in the years to come.
- Check eligible expenses. You can use your HSA funds tax-free at any time to pay for qualified health and prescription drug costs, dental care and vision care expenses (a list can be found on the IRS website). View examples of eligible expenses.
- Understand how an HSA works with a Health Care FSA. If you enroll in an HSA-eligible plan and elect a Limited Purpose FSA, the account will be limited to eligible dental and vision expenses.
Flexible Spending Accounts (FSAs)
We provide three types of FSAs, a Health Care FSA, a Limited Purpose FSA and a Dependent Care FSA. These accounts provide opportunities for you to set aside pre-tax dollars to help pay for eligible out-of-pocket expenses throughout the plan year.
- Health Care FSA: Available if you're not enrolled in the Basic HSA, HSA Plus or other HSA-eligible medical coverage (for example, through a spouse's plan). Use it for health and prescription drug costs, dental care and vision care.
- Limited Purpose FSA: Available if you're enrolled in Basic HSA or HSA Plus medical coverage. It works alongside your HSA, providing another way to pay for dental, orthodontic and vision expenses tax-free.
- Dependent Care FSA: Available to all benefits-eligible colleagues. Use it for eligible child and elder care, such as day care, nursery school, preschool, summer day camp and adult day care.
When enrolling in coverage
- Review eligibility. You can participate in the FSAs regardless of your medical plan enrollment. If you enroll in an HSA-eligible plan, you can elect a Limited Purpose FSA (instead of a full Health Care FSA) to help pay for eligible dental and vision expenses while preserving your HSA for medical expenses and future savings.
- Plan your contributions and spending carefully. Any unused funds above the annual carryover limit will be forfeited, so it's important to estimate your expenses carefully. You can carry over up to $680 in unused FSA funds from 2027 into 2028. The following contribution limits apply:
- Health Care FSA: Contribute up to $3,400 in 2027.
- Limited Purpose FSA: Contribute up to $3,400 in 2027.
- Dependent Care FSA: Contribute up to $7,500 in 2027.
For more information, visit the IRS website.
- Review eligible expenses. You can withdraw your money tax-free at any time to pay for qualified expenses (a list can be found here). View examples of eligible expenses.
Commuter Benefits
You have access to commuter benefits which give you the opportunity to set aside pre-tax dollars to pay for eligible public transportation and parking expenses related to your commute to work.
When considering commuter benefits
- Review annual limits and eligible expenses. Each year the IRS limits how much you can save tax-free for eligible transit and parking expenses. For annual IRS limits, visit the IRS website.
- Enroll or change your coverage. You do not need to take action during enrollment to elect a commuter account. You can enroll or change coverage by the 10th day of the month (or the 4th day of the month if you live in New York or New Jersey) for the next benefit month. You can stop or change your participation at any time.
Business Travel Accident Insurance
Wolters Kluwer automatically provides you insurance while traveling on company business which provides coverage for emergency medical claims, loss/theft of personal belongings and evacuation services.
There is no action you need to take to enroll or take advantage of this benefit.
Maximize your benefits throughout the year
Start saving with the 401(k) as soon as possible.
The longer your money is invested, the more time it has to grow through compound interest.
Contribute at least 3% to your 401(k) Plan.
If you are contributing less than 3%, you are not maximizing the company matching contribution which means you are leaving money on the table.
Regularly evaluate your savings plan.
As your financial situation changes, you may be able to contribute more to your long-term savings. Consider gradually increasing your contributions over time.
Invest money in your 401(k) and HSA.
Invest the money based on your risk tolerance and financial goals, and the money may grow with interest over time.
Save with tax advantaged accounts.
The 401(k) Plan, HSA, FSAs and commuter account all allow you to make pre-tax contributions. Pre-tax contributions are deducted from your income before taxes are calculated, which reduces your taxable income. This means you pay less in income taxes in the year you make the contribution.
