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Check your final payout amount

Check that you actually received the gross (pre-tax-withholding) severance payment or PRP bonus that you are supposed to get. (The withholding tax rate may be very high. It is calculated per IRS formula as though you make that much on every check throughout the year. You will get credit for this when you do your taxes.)

A couple of members have indicated that they didn't receive the correct amount -- caused by incorrect data in HP's system for their termination date, years of service, part-time vs. full-time status, or some other factor.

As part of the WFR or PRP, you received a legal document called a "Summary Plan Description." (SPD) The Summary Plan Description you were sent defines how your severance payment or PRP bonus are to be calculated.

 

In addition, an SPD gives the procedure to deal with errors, including:

1. An address to file a formal written claim with the company and

2. A second address to appeal a denied claim at Corporate Legal.

Note that there are deadlines. You should send your written claim or appeal via Certified Mail or some other means that provides proof of delivery.

The wording refers to "ERISA" -- the Employee Retirement Income Security Act of 1974 (ERISA.) This is a legal issue involving conformance to federal law.

3. The third level of escalation is with your state's Department of Labor, which is charged with enforcing state law. (For example, one member referred to submitting a "Wage and Hour Complaint Form" to the Colorado Department of Labor.)

With the large number of people being laid off, the resulting workload for people handling these issues, and the separation into HP Inc. and Hewlett Packard Enterprise -- there are plenty of opportunities for error.

Check the numbers!

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

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

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