If you received a letter from Social Security entitled
"Potential Private Retirement Benefit." How to
decode the letter and who to contact:
Potential Benefit letter
If you have paper stock certificates. What to do:
Stock Certificates
DEC sale to Compaq. DEC's first quarterly loss was in
1990. In Jan 1998, after several years of declining revenues
and heavy losses, DEC negotiated a $9.6 billion sale to
Compaq at a
26% premium over the current stock price -- which was
completed on Jun 12, 1998.
HP Breakup. On Nov 1, 2015, the legal name of the Hewlett-Packard Company was changed to HP Inc.
and a new, completely separate company -- Hewlett Packard
Enterprise (no hyphen; green-rectangle logo) -- was
spun out. Portions of HPE were later spun out into DXC and Micro
Focus, which have spun out other companies:
HP Breakup
HP Inc. is the legal successor to the companies acquired by Hewlett-Packard before the company was
split into HP Inc and Hewlett Packard Enterprise on Nov 1, 2015. Responsibility for commitments to former employees of Compaq, DEC, EDS, etc. remain with HP Inc. -- regardless of whether their
last business unit ended up in HP or HPE. Includes employment verification and
any retiree health, pension, etc. plans.
Make sure that the legal successor to every company you
ever worked for has your current postal address.
Even if not classified by the company as a "Retiree" or
if long gone -- in case of pension plan changes, employment lawsuits,
settlements, or other issues. Update address at former
company
Which HP-related companies have me classified as a retiree or former employee?
Given HP's history of acquisitions and spinoffs, this may not be obvious. If any doubt, check here:
Which Company
Info and contacts for those from:
Compaq
Contacts at HP Inc. -- the successor company:
HP contacts
Facebook groups: Reconnect, celebrate the good times, and appreciate those who have
passed. There are social groups on Facebook for HP,
EDS, DEC, Tandem, and Compaq.
Private, independent online forums operated and moderated by people from each community.
Directory of leading HP-related Facebook groups:
https://www.hpalumni.org/facebook
The DEC Connection is an independent association of former
DEC employees:
DEC
Connection
Service at predecessor companies. Of HPInc's many
predecessor companies, only HP and DEC ever had retiree
healthcare programs. Only HP, DEC, and EDS ever had pension
plans. Over the years, HP, DEC, and EDS set aside money in
dedicated trust funds to pay for those programs. Therefore,
employees of other acquisitions did not get credit under
HP's retiree healthcare or pension programs for service at
the predecessor -- but generally did get service credit for
other benefits.
Pension:
- Pension change. If you have been receiving monthly
U.S. HP, DEC, or EDS pension payments that commenced on or
before November 1, 2020 -- your pension is probably among
the 41,000 converted in September 2021 from a company pension administered by Fidelity to
an insured annuity provided by Prudential. Details:
hpalumni.org/pension2021
-
If you were employed by DEC prior to Mar 1, 1996: You may
have a benefit under the HP Cash Account Pension Plan.
Plan details in this HP document, which may be out of date:
2008 HP CAP Summary Plan Description
The current SPD takes precedence over any other written,
online, or verbal information you may have been given -- but
is still subject to change. The employer's plan
administrator is required by law to provide the SPD upon
request. How to obtain and decode:
https://www.hpalumni.org/SPD-decode
- The HP Retirement Service Center is the primary administrator for HP Inc U.S. pension and 401(k) accounts,
including any accounts for companies that Hewlett-Packard acquired before Nov 1, 2015 (Compaq, DEC, EDS, etc.) and that HP Inc acquired later (Poly, etc.)
Operated by Fidelity Investments.
1-800-457-4015 (If no password, keep hitting #.) (Outside US 1-508-787-9902 collect.)
https://nb.fidelity.com (Don't go to a local Fidelity office.)
- Benefits depend on the choice the employee made. At
various times available pension options may have included
lump sum, monthly payment, reduced monthly payment with
survivor benefit, etc.
- UK Pension -- HP, DEC, EDS. HP Limited Retirement Benefits Plan,
administered by Equiniti.
https://hprbp.com
For details of a U.S. employer retirement or health plan,
obtain a copy of the legal Summary Plan Description ("SPD"). Log into the plan administrator's website or call. They are required by law to provide the SPD upon request. The current SPD takes precedence over any other written, online, or verbal information you may be given -- but is still subject to change.
How to use an SPD
Retiree Health Program:
-
DEC retirees report that Compaq -- and now HP -- have lived up to DEC's
retiree healthcare commitments.
- We have a copy of HP's official table to
determine if you are qualified for health coverage.
hpalumni.org/Pre2003
- Call the HPInc
Benefits Center: (Alight) 1-800-890-3100. (Outside US,
Puerto Rico, Canada 1-847-883-0465) Alight
Ask for a "Retirement Specialist"
-
Annual Benefits Enrollment. Details and advice from
members:
https://www.hpalumni.org/Annual
-
Why HP group plan costs are going up.
hpalumni.org/health-cost
-
Join the
HPAA Benefits Forum Covers topics such as COBRA and
retiree health benefits, annual enrollment, and transition
to Medicare.
Stock:
- Compaq acquisition of DEC: For each share of DEC
owned on June 11, 1998, DEC shareholders received $30.00 in
cash and 0.945 share of Compaq stock. DEC stock was
retired. Source:
SEC 8K filing
- HPAA's detailed Stock Decoder tables for:
DEC
Compaq
-
You may now have stock in HP, HPE, Agilent, Keysight, and DXC in various
accounts -- and may have missed cash payouts for Perspecta and Micro Focus. How many shares of which companies should I have? How much
cash should I have received?
Stock Recovery Process
Employment verification and experience letters for
Hewlett-Packard, Hewlett Packard Enterprise, and related
companies.
Employment and Experience Verification
For those in the workforce, select the links below that fit your
situation...
- Current HP or HPE employee:
Networking and Information.
- HP or HPE employee in the process of leaving or being laid off:
ASAP
checklist.
Update and strengthen your LinkedIn profile. Even if not
currently looking, you
need a strong, credible profile on LinkedIn. People check you out before
working with you. Recruiters search for skills and background. LinkedIn helps you reconnect with people who know you and your work.
Check your LinkedIn profile. (Click your photo, select "View Profile.") LinkedIn has been standardizing company names, with odd results. Recruiters view illogical entries -- such as HPE positions before 2015 -- as fake.
(HPE changed many decades-old HP positions to HPE.) Watch for typos. You can emphasize or de-emphasize some of your experience and background.
Tricks and
traps:
hpalumni.org/LinkedIn
DEC history and culture
https://www.hpalumni.org/DEC-History.htm
