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Pension, 401(k), stock, and benefits issues for EDS alumni (Electronic Data Systems Corporation)  (Updated May 24, 2020.) Comments about this page to: info@hpalumni.org

Other pages for EDS alumni -- whether or not you ever worked for HP:

- Career and employment issues for EDS alumni. Employment verification. Leaving HP. Untangling and strengthening your LinkedIn profile. Networking with other EDS alumni. Details: EDS Employment and Career

- EDS history and culture. Classic EDS ads. "The lost legacy of EDS." Books about EDS. Sale to HP. Corporate names.  Details: EDS History and Culture

EDS online: For jobs posted by recruiters searching for EDS background, benefits and career discussions related to EDS service, and EDS history -- join the EDS Alumni LinkedIn Group.

If you received a "Potential Private Retirement Benefit Information" notice from Social Security, it is usually based on outdated information -- as indicated by the "Year Reported" date on the form included in the body of the notice. Here's how to decode it: https://www.hpalumni.org/PotentialBenefitLetter


Key: Legal successor and corporate names. 

- HP Inc is the legal successor to EDS -- not subsequent successor companies such as HPES, Hewlett Packard Enterprise, DXC, etc. -- and has responsibility for any commitments to former EDS employees.  (Does not depend on whether your last business unit subsequently ended up in HP Inc or Hewlett Packard Enterprise in the HP Breakup.)

- When EDS was acquired by HP on August 26, 2008, it was temporarily structured as a wholly-owned subsidiary called "EDS, an HP Company." Source

- On Sept. 23, 2009, Hewlett-Packard Company announced that "EDS, an HP company" would be renamed "HP Enterprise Services."  Source  The timing may have varied from country to country.

- On October 21, 2015, Hewlett-Packard Company spun off Hewlett Packard Enterprise (no hyphen; singular.) The timing may have varied from country to country.

Contacting HP. First, which Company am I a retiree or former employee of? Given HP's complex history of  acquisitions, divestitures, and spinoffs, the company that you are legally a former employee of may not be obvious. Before contacting one of the HP-related companies, check here: Which Company   

EDS pension:

If you were employed by EDS or "EDS, an HP Company" before January 1, 2009 you may have an EDS pension that you have forgotten about. If you are not collecting on (or did not cash in) an EDS pension, check for an EDS pension account with Fidelity.

If you have an EDS pension that you are not yet collecting on, be sure that Fidelity has your current mailing address. (In order to reduce pension admin costs, at various times over the years those with relatively small balances were sent limited-time cash buyout offers by mail.)

"You may have a benefit in the [EDS Retirement] Plan if you were employed by EDS before HP acquired EDS on August 26, 2008, or if you joined "EDS, an HP Company" [quotation marks added] between August 26, 2008 and December 31, 2008. The plan was closed to new participants on January 1, 2009. Eligibility to earn Pay-Based Credits to Personal Pension Accounts (PPAs) under the Plan ended on December 31, 2008, although Interest Credits continue to accrue on existing PPA accounts"
--from our copy of the EDS Retirement Plan Summary Plan Description (SPD)

Notes from our copy of the SPD:
- Document "Updated as of January 2012" Contact Fidelity to determine if there is a newer version.
- Document applies to "former employees and beneficiaries with vested benefits that have not been fully paid" and to eligible HP employees who previously worked for EDS. "However, benefits for participants who terminated from EDS before July 1, 1998 are subject to separate provisions not described in this SPD." (Page 3)   
- If employee dies before payments begin, generally payable to surviving spouse or beneficiary. (Details on page 26.)

The EDS pension plan is backed by a trust fund set up by EDS decades ago, currently administered by Fidelity.

- US: The HP Inc Retirement Service Center (operated by Fidelity Investments) manages pension and 401(k) accounts for HP Inc (formerly named Hewlett-Packard Company.) Also manages any pension or 401(k) accounts that the many Hewlett-Packard predecessor companies, such as DEC or EDS, may have had.
1-800-457-4015, M-F 7:30 AM to 11:00 PM Central Time. Outside the US, call 1-508-787-9902 collect. Fidelity website: Fidelity

- Outside the US: Try the HP Inc official HR Support Country Selector or HP Inc Corporate contact points (scroll to end of page.)

Lump-sum payout: A couple of years ago, EDS folks with small pensions were offered lump-sum payouts -- apparently to reduce admin costs. "At the present time... the Plan does not allow lump-sum distributions for amounts over $5,000. We don’t speculate if that policy will change. However, if Plan provisions do change to allow lump sums over $5000, affected participants will be notified via mail." --email in response to inquiry from an EDS alum, April 19, 2019. 

The EDS pension plan has survived EDS being bought by General Motors in 1984, being spun out by GM in 1996, the sale to HP, and the split of the Hewlett-Packard Company into HP Inc and Hewlett Packard Enterprise.

EDS 401(k):

The HP Inc Retirement Service Center (operated by Fidelity Investments) manages pension and 401(k) accounts for HP Inc (formerly named Hewlett-Packard Company.) Also manages any pension or 401(k) accounts that the many Hewlett-Packard predecessor companies, such as DEC or EDS, may have had.
1-800-457-4015, M-F 7:30 AM to 11:00 PM Central Time. Outside the US, call 1-508-787-9902 collect. Fidelity website: Fidelity

Stock:

- EDS stock is no longer traded. HP paid $25.00 per share to the owners of record as of August 26, 2008. ($13.9 billion -- a 32% premium over the market price of $18.86 before announcement .NYTimes ) A check was sent to the address in the ownership records for each shareholding -- Where's my stock? If the check was uncashed, the money would have eventually been turned over to a state unclaimed property department. See HPAA's page on How to check for lost stock and dividends

- If you acquired HP stock via the EDS employee stock purchase plan. Determine cost basis and ordinary income or capital gain for each lot of shares spawned by HP since the EDS acquisition -- HP Inc, Hewlett Packard Enterprise, DXC Technology, Micro Focus, Perspecta...  Details and HPAA advice for former EDS employee shareholders

Retiree healthcare. Of HP's many predecessor companies, only the Hewlett-Packard Company and Digital Equipment Corporation had retiree healthcare programs. Over the years, HP and DEC set aside money in dedicated trust funds to pay for retiree healthcare. Compaq, EDS, Tandem, Autonomy, Palm, etc. did not have retiree healthcare among their benefits programs. Their employees did not have that expectation and there were no corresponding trust funds to pass on to HP. Therefore, employees of those companies do not get credit under HP's retiree healthcare program for service at the predecessor company. (Note that qualifying years-of-service may vary for different types of benefit. For example, predecessor service counts to determine FTO.)

Other retiree benefits:  First step: Which Company am I a retiree or former employee of? HP Inc or Hewlett Packard Enterprise? Given HP's complex history of  acquisitions, divestitures, and spinoffs, the company that you are legally a former employee of may not be obvious. Before contacting one of the HP-related companies, check here: Which Company   

Report disability or a death to the company: https://www.hpalumni.org/report

Vehicle discounts. When EDS had a close relationship with GM, EDS people qualified for the GM employee discount program -- today only those receiving a GM pension qualify. See Retiree Discounts.


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For more mutual help on this topic and many others, join the independent HP Alumni Association. If you were formerly a regular, direct employee of HP or HPE -- or are in the process of leaving -- join HPAlumni via email. No charge, thanks to HPAA members.


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