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The total liability associated with the U.S. deferred vested participants is approximately 33% of the U.S. pension liability. In the coming weeks, NCR will contact approximately 23,000 eligible deferred vested participants with personalized information about the voluntary lump-sum offer, which includes the following choices: One-time lump-sum payment rolled over to an individual retirement account (IRA) or another employer's qualified plan (if permitted by that plan); One-time lump-sum payment rolled over to the NCR Savings Plan (for NCR Savings Plan participants only); One-time lump-sum payment in cash payable in December 2012; Monthly annuity payment (single life or joint and survivor) commencing in December 2012; and Remain in the U.S. pension plan as a deferred vested participant. NCR is following in the footsteps of auto giants GM (see “GM Transfers Some Pension Risk”) and Ford (see “Ford Offers Lump-Sums to De-Risk Pension”) in offering lump-sums in an effort to de-risk pensions.
The total liability associated with the U.S. deferred vested participants is approximately 33% of the U.S. pension liability. In the coming weeks, NCR will contact approximately 23,000 eligible deferred vested participants with personalized information about the voluntary lump-sum offer, which includes the following choices:
Rebecca Mooreeditors@plansponsor.com