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Current U.S. HP Retirement (Pension) Plans

Advice and reference info from members. (Updated Nov 13, 2021.) Website operated by former employees. Please send comments to info@hpalumni.org

This page is one of the links on HPAA's Retirement Plan Menu -- which includes "How to investigate a retirement benefit plan" and "Lump-sum or pension?"

"Potential Private Retirement Benefit" letter from Social Security. Reports the last transaction in a benefit plan that you were once enrolled in. If "Type of Benefit" is coded "A" -- in the previous year, you rolled the money into a different plan, bought an annuity, or took the cash. "M" if you left before vesting in that plan. How to investigate: https://www.hpalumni.org/PotentialBenefitLetter.

Join the HPAA Finance Group.

How to Choose a Financial Advisor. Member advice on sorting out the different types of financial salespeople and advisors.

Which HP-related companies am I a retiree or former employee of? (Not always obvious.) Given HP's complex history of acquisitions, divestitures, and spinoffs, the company or companies that you are legally a former employee of may not be obvious. If any doubt, check here: Which Company

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 plan *may* have been converted from a company pension administered by Fidelity to an insured annuity provided by Prudential. Details: https://www.hpalumni.org/pension2021


The continuing HP 401(k) plan, which started in 1984

For details of an employer retirement or health plan, obtain a copy of the legal Summary Plan Description ("SPD") -- either by logging into your account on the plan administrator's website or by calling the plan administrator's phone center. They are required by law to provide your SPD upon request. The SPD takes precedence over any other written, online, or verbal information you may be given. How to use an SPD

"EIN" = IRS Employer Identification Number.

- Name: "HP Inc. 401(k) Plan"

- EIN: 94-1081436 -- Plan number: 004  ("EIN" = IRS Employer Identification Number)

- Abbreviated as: 94-1081436-004

- Document downloaded by members on Nov 12, 2021: 
HP 401(k) Plan Summary Plan Description - 2021   [Browser tab displays: "HP 2017 401(k) SPD" because the hidden "Title" property of the PDF file was not updated when the document was edited by HP.]

- Older documents downloaded by members at various times: 
HP 401(k) Plan Summary Plan Description - 2017   [Browser tab displays: "HP 2017 401(k) SPD"]
2020 Summary of Modifications to 401(k) SPD        [Browser tab displays: "Microsoft Word - HP 401k SMM"]
HP_401k_SummaryPlandDescription-2013.pdf        [Browser tab displays: "HA Normal" -- where "HA" means "Hewitt Associates."]

How to use an SPD

- Administrator: HP Retirement Service Center administers pension and 401(k) accounts for HPInc (legal name changed from Hewlett-Packard Company to HP Inc. in 2015.) Also administers any pension or 401(k) accounts that Hewlett-Packard predecessor companies (such as Compaq, Digital, and EDS) may have had. Operated by Fidelity Investments.
1-800-457-4015, M-F 7:30 AM to 11:00 PM Central Time. Outside the U.S., call 1-508-787-9902 collect. Website: https://nb.fidelity.com/public/nb/hp/home    

- Be sure you have a valid beneficiary designation on file at Fidelity.

- Benefits under 401(k) plans are not insured by the Pension Benefit Guaranty Corporation (PBGC.)

- Note: HP originally gave its 401(k) program the confusing name "TAXCAP" -- "Tax Savings Capital Accumulation Plan." 1984 HP Annual Report   1998 Measure Article (pages 8-10)   2004 SEC filing

- Members report that there was a one-year waiting period to enroll in TAXCAP. Beginning Feb 1, 1998, new employees were automatically enrolled at the 3% level unless they changed the setting.  

- 401(k) plans -- history, how they work, consequences: 401(k) Basics    How the 401(k) has evolved    How the 401(k) has replaced pensions


For details on the legacy HP RP, DPSP, and CAPP retirement plans -- including a thorough discussion of the key question: Should you take a lump-sum or a monthly pension?
-- see Legacy HP Retirement Plans


SPDs: How to find the legal "Summary Plan Description" documents for HP and HPE: Finding SPDs   How to use an SPD

Service at predecessor companies.

Of HP's many predecessor companies, as far as we know: Only HP and DEC had retiree healthcare programs. Only HP, Digital, and EDS had pension plans. Over the years, HP, DEC, and EDS set aside money in dedicated trust funds to pay for those programs. Compaq, Tandem, Autonomy, Palm, etc. did not have retiree healthcare or pensions among their benefits programs. Their employees did not have those expectations and there were no corresponding trust funds to pass on to an acquiring company. Therefore, employees of those companies do not get credit under HP's retiree healthcare or pension programs for service at the predecessor company. (DEC employees get retiree health credit for DEC and HP service but not Compaq service.) Confusingly, predecessor service counts for vacation/FTO. Details: DEC Benefits  EDS Benefits


2015: HPInc/HPE Breakup.

"Overall, HP's pension plans are well funded and we continue to make contributions to pensions based on local funding requirements.  HP is committed to maintaining funding in accordance with relevant pension funding rules, and this will not change following the business separation. Keep in mind any vested HP pension benefits you maintain are obligations of the pension plan itself, rather than HP. [Emphasis added] HP has made contributions to fund these benefits in a separate trust over time, and pension benefits are subject to minimum funding requirements that will continue even after the separation."

--Posted March 17, 2015 under "Retiree News" on the official HP Continuum password-protected retiree website operated by HP Inc.

Rest assured, you will not lose any retirement benefit value as a result of the separation, and you will not need to take any action.  If you still have benefits remaining in an HP pension plan or the HP 401(k) Plan, the value, timing, and method of your payments will not change, and you will not need to take any action. For more details about how your individual retirement benefits will be affected by the separation, watch for a personalized retirement announcement that will be mailed to your home in early September.

--From HP's August 27, 2015 message to U.S. retirees


Related topics...

Future of retiree healthcare: HP never made any explicit commitment to provide retiree healthcare in the entire history of the company. Of the many Hewlett-Packard predecessor companies, only DEC had retiree healthcare. Prices paid by retirees will continue to rise due to the cap put in place in 2010.  Details

Time to untangle your stock! No one but you really cares about your employment-related stock. You may now have stock in up to seven HP-related companies. Your stock may not all be in the same place, or be registered to your current postal address. You may need to find stray accounts or retrieve lost stock, dividends, or cash payouts. The IRS does not have the ability to independently determine your cost basis; you may need to estimate it. An HP Alumni team has developed a step-by-step process. Employee Stock

Other benefits issues -- such as Social Security, Pension, 401(k), Stock, Medicare, annual enrollment, COBRA, troubleshooting retiree health coverage, etc:. HPAlumni Benefits Menu


If formerly a regular, direct U.S. employee of HP or HPE -- or are in the process of leaving -- join the HP Alumni Association. Membership is also open to heirs with HP-related stock and to those receiving company benefits -- spouses, partners, dependents, DEC and EDS retirees. No charge, thanks to HPAA's Supporting Members.

As financial, legal, and personal advice must be tailored to the specific circumstances of each case, and finances and laws are constantly changing, nothing provided here should be used as a substitute for the personalized advice of competent financial, legal, and personal advisors.


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