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DEC Pensions (Rev Sep 30, 2024) Website operated by volunteers. Not officially endorsed or supported. Main page with info and links for DEC alumni: https://www.hpalumni.org/DEC
HP Inc. is the overall legal successor to companies acquired by Hewlett-Packard before the company was
split into HP Inc and Hewlett Packard Enterprise on Nov 1, 2015. In general, responsibility for original commitments to former U.S. employees of Compaq, DEC, EDS, etc. remain with HP Inc. – regardless of whether their last business unit ended up in HP or HPE. (Canada and UK: HPE. Other countries vary. Received a "Potential Private Retirement Benefit" letter from Social Security? How to decode the letter and who to contact, if necessary: Potential Benefit letter 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? Due to acquisitions and spinoffs, this may not be obvious. Check here: Which Company Service at predecessor companies. Of the many predecessor companies, only HP, DEC, and EDS ever had U.S. pension plans. Only HP and DEC ever had U.S. retiree healthcare plans. Over the years, the companies set aside money in a dedicated trust fund for each plan. The benefits originally promised assumed continued high profit levels. Each plan was eventually closed to new participants. As employees were added to the retirement plans in effect at the time of acquisition, they did not get credit for service at the predecessor. However, they generally did get service credit for other benefits, such as vacation/FTO. Pension: - US 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, now Empower. 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 Plan details in this HP document, which may be out of date: 2008 HP CAP Summary Plan Description The current SPD takes precedence over any other written, online, or verbal information you may have been given -- but is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.) Operated by Fidelity Investments. 1-800-457-4015 (If no password, keep hitting #.) (Outside US 1-508-787-9902 collect.) https://nb.Fidelity.com (Members advise that local Fidelity offices are focused on sales.) - 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 Independent UK HP Pension Association
- DEC UK Pension. Issue for those with
pre-1997 service under the original DEC UK pension plan -- a
defined-benefit plan. The DEC Connection is an independent association of former DEC employees: http://www.decconnection.org (Membership not required to see local reunions and other events.) UK: Independent UK HP Pension Association: https://hppa.org.uk/latest-news-2 Dexodus is an independent association of former UK DEC employees: https://dexodus.uk Question? Email: info@hpalumni.org |
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