U.S. HP Pension Lump-Sum Payout Offer 2020

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Join the HPAA Finance Group. Deals with employee stock, 401(k), pensions, and other personal finance issues from an ex-HP/HPE perspective.

HP Inc. is the legal successor to the companies acquired by Hewlett-Packard before the company was split into HP Inc and Hewlett Packard Enterprise on Nov 1, 2005. Responsibility for commitments to former employees of Compaq, DEC, EDS, etc. remain with HP Inc. -- regardless of whether their last business unit ended up in HP or HPE. Includes employment verification and any retiree health, pension, etc. plans. HPE is responsible for commitments to former employees of companies acquired by HPE.

"In the quarter ended Oct. 31 2020, the company paid about $2 billion to former employees in its primary U.S. pension plan who elected to receive lump sums the company offered. About 12,000 former employees vested in the HP Inc. Pension Plan who had yet to retire at that time elected the lump-sum option during the window that began June 5 and closed July 3."
Pensions & Investments Magazine/Website

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