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Money: Finance, stock, and tax issues for HP and HPE alumni
Advice and reference info from members. This topic is covered in the HPAA Finance Forum
Time to untangle your stock! With any employer, no one but you really cares about your employment-related stock. Due to the HP Breakup, you may have stock in up to seven HP-related companies. It may not all be held in the same place. Many find stray accounts -- or need to retrieve stock or dividends turned over to a state as "unclaimed." With each spinoff, the cost basis for your shares changed. You could pay taxes twice on the same income. Your heirs won't need to know your cost basis, but will need to find all the shares. An HP Alumni team developed a step-by-step process to find and protect your stock. Go to Employee Stock
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you received a "Potential Private Retirement Benefit Information" notice from Social Security, it is usually based on outdated information -- as indicated by the "Year Reported" date on the form included in the body of the notice.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 leaving or recently left, see our ASAP Checklist -- what to do before losing access to the company's internal systems and in the following few weeks.
Contacts for former employees. Member advice: stock records, employment and salary verification, Payroll. W-2, HP Retirement Service Center at Fidelity, HP Benefits Center, etc.
Retirement Plans. Pension. 401(k). Classification as "Retired." Which company am I a retiree or legally a former employee of? Legacy HP retirement plans -- HP Deferred Profit Sharing Plan and HP Retirement Plan. Should you take a lump-sum or a monthly pension? Note: HP originally gave its 401(k) program the confusing name "TAXCAP" -- "Tax Savings Capital Accumulation Plan."
Compaq issues CPQ shares purchased under the Compaq employee stock purchase plan have HPQ, HPE, and other spinoff shares at Morgan Stanley. Members report problems with MS.
DEC issues. HP is the legal successor to DEC. You may have a benefit under the Digital Pension Plan or Digital Retiree Health Program.
EDS issues. 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 acquired HP stock via the EDS employee stock purchase plan. How to sell your EDS stock.
Annual W-2 and final Earnings Statement for HPInc, HPE, DXC, Micro Focus.
What I wish I had known before I left. Financial surprises and hazards -- based on input from dozens of HPAA members.
How to Choose a Financial Advisor. Member advice on sorting out the different types of financial salespeople and advisors.
Social Security. Member advice from an ex-HP/HPE perspective. Video and slides from the August 2016 HPAA Social Security Administration webinar.
Unclaimed Property. Almost everyone has some small stray uncashed check somewhere. This is surprisingly common, even for people who haven't changed their address in decades.
See also: Benefits Forum. Discuss HP and HPE COBRA and retiree benefits, including Annual Enrollment and transition to Medicare..
Questions or comments to: firstname.lastname@example.org (Menu updated Sep 11, 2020.)
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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