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Pension issues for EDS alumni (Electronic Data Systems Corporation)  (Updated Aug 12, 2020.) Comments about this page to: info@hpalumni.org

See all of HPAA's information for EDS alumni -- whether or not you ever worked for HP: https://www.hpalumni.org/eds


Key: Legal successor and corporate names. 

- HPInc is the legal successor to EDS. Responsibility was not transferred to successor companies such as Hewlett Packard Enterprise, DXC, etc. HPInc has responsibility for any commitments to former EDS employees.  This includes any retiree health coverage, pension, 401(k), etc. plans. (Does not depend on whether the employee's last business unit ended up in HPInc or Hewlett Packard Enterprise in the HP Breakup.)

- When EDS was acquired by HP on Aug 26, 2008, it was temporarily structured as a wholly-owned subsidiary called "EDS, an HP Company." On Sep 23, 2009, it was renamed "HP Enterprise Services."

- On Oct 21, 2015, Hewlett-Packard Company spun off Hewlett Packard Enterprise (no hyphen; singular.)

Make sure that 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 from the company -- in case of class-action settlements, pension, or stock issues. Update address at former company

Other benefits issues for EDS alumni -- including 401(k), stock, HPInc and HPE retiree benefits, vehicle discounts. Report disability or a death to the company. https://www.hpalumni.org/edsBenefits


Pension contacts:

- US: The HPInc Retirement Service Center (operated by Fidelity Investments) manages pension and 401(k) accounts for HPInc (formerly named Hewlett-Packard Company.) Also manages any pension or 401(k) accounts that the many Hewlett-Packard predecessor companies, such as DEC and 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

- UK: Administered by Equiniti.

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

EDS pension:

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you received a "Potential Private Retirement Benefit Information" notice from Social Security, it is usually based on outdated information -- as indicated by the "Year Reported" date on the form included in the body of the notice.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

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.

"You may have a benefit in the [EDS Retirement] Plan if you were employed by EDS before HP acquired EDS on Aug 26, 2008, or if you joined "EDS, an HP Company" [quotation marks added] between Aug 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)   How to decode an SPD. (For example, many of the postal contact addresses given in SPDs are extinct.)  Decoding SPDs

Key points:

The account is growing at 5% per year if you left EDS after July 1, 1998.

What if HP goes under? The plan is backed by a trust fund -- and is listed on the federal PBGC website as insured. (Full payout not guaranteed for larger pensions -- $5,812 per month maximum for someone who starts taking pension at 65. See this table:
https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee )

If employee dies before payments begin, generally payable to surviving spouse or beneficiary. (Details on SPD page 26.)

Key document: "EDS Retirement Plan Summary Plan Description" (the "SPD") -- with many key details, including annual interest credit, QDRO, and surviving spouse provisions. Our copy of the SPD is "Updated as of January 2012" Contact Fidelity to determine if there is a newer version.

There are at least two vintages of the EDS plan. Download the SPD from Fidelity that specifically applies to you -- based on when you left EDS.

For example, the "Updated as of January 2012" copy of the SPD does not apply if you left EDS before July 1, 1998. 
It says on page 1: "Benefits for participants who terminated from EDS before July 1, 1998 are subject to separate provisions not described in this SPD. For more information about these benefits, contact the HP Retirement Services Center."
https://www.hpalumni.org/EDSRetirementPlanSPD-HP_Final_2012_HP_EDS_Retirement_Plan_SPD.pdf 

If you left EDS on or after July 1, 1998 -- and have not cashed out or started taking the pension -- the account has been and will continue to grow at 5% per year. "Personal Pension Accounts ...continue to receive Interest Credits, even after ceasing to earn Pay-Based Credits. Your PPA is credited with Interest Credits at a predetermined rate thatís adjusted annually each January 1 subject to a minimum rate of 5% per year. Interest Credits continue to accumulate until your PPA is paid to you or converted to an annuity at retirement." [Page 9 of the Summary Plan Description.

Lump-sum payout offers:

- 2016: A pension buyout offer was made to those with a "lump-sum present value of your accrued benefit as of Aug 1, 2016" between $5K to $100K. 2016 Pension Lump-Sum Offer

- 2019: 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 donít 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. 

- 2020: A lump-sum pension buyout offer has been made to some who have legacy DEC and EDS pension plans. Deadline: July 15, 2020; extended to July 22, 2020. Details: 2020 Pension Lump-Sum Offer

The EDS pension plan has survived the sale to GM in 1984, spin-out from GM in 1996, sale to HP, and the split of HP into HPInc and HPE.

One person referred to EDS founder Ross Perot on the EDS Alumni LinkedIn Group: "Ross is the gift that doesn't stop giving."


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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 the HP Alumni Association. Transition, Benefits, and Finance forums. No charge, thanks to HPAA members.


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