Jump to Navigation
Jump to Content

Companies that are offering lump-sum pension buyouts

Date Published: 
Monday, October 15, 2012

Below is a list of employers that have announced that they are offering lump-sum pension buyouts to certain groups of employees, former employees, or retirees. For specifics, click on the employer's name to see the company's press release, SEC filing, or news story announcing the change (some links may expire).

This list was started in 2012, after Ford and General Motors announced that they were offering lump sums to thousands of retirees and former workers. Read our related fact sheet, Should You Take Your Pension as a Lump Sum?.

(Note: this is not a comprehensive list. These are only the changes that we are aware of, based on corporate press releases, news reports, and other sources.)

We have a similar lists of companies that have frozen or changed their traditional pension plans and companies that have reduced or eliminated their matching contributions to employees' 401(k) plans.

Announcement
Date
Employer
Offer Made to
10/22/2014 Ryder 11,000 former employees
10/09/2014 YRC Worldwide, Inc. an unknown number of former employees
09/25/2014 Motorola Solutions, Inc.** 32,000 former employees 
09/23/2014 Newell Rubbermaid Inc. 5,700 former employees
09/23/2014 Magnetek 2,800 former employees
09/23/2014 American Axle 6,000 former employees 
09/23/2014 Washington Post unknown
09/15/2014 Boeing 40,000 former employees
September 2014 Computer Sciences Corporation unknown
September 2014 The Hartford Financial Services Group, Inc. (p. 131) 13,500 former employees
08/29/2014 The Brinks Company 9,000 former employees
08/05/2014 Archer-Daniels-Midland Company 10,000 participants who started pension benefits by June 30, 2014
07/11/2014 RockTenn 9,000 former employees
06/10/2014 NCR Corporation 20,000 former employees already receiving pensions
05/09/2014 Alcatel-Lucent 45,000 retirees and former employees (in 2015)
02/26/2014 Heinz* 5,173 active and former employees and retirees
11/13/2013 SPX Corporation** 7,500 former employees
06/27/2013 McCormick & Company 3,300 former employees
Q4 2012
Anixter International Inc. an unknown number of terminated vested participants
unknown Lockheed Martin Corp. 33,000 former employees
10/24/2012 Kimberly-Clark Corporation 10,000 former employees
10/19/2012 Baxter International Inc. 16,000 former employees
10/09/2012 Yum! Brands "certain former employees"
10/05/2012 A.H. Belo Corporation 1,500 participants with pensions valued at $30,000 or less
10/01/2012
Equifax Inc.
3,500 former employees
09/25/2012
Thomson Reuters unknown number of former employees
09/20/2012 Archer-Daniels-Midland Corporation 7,000-7,500 former employees
09/19/2012
Visteon Corporation
"nearly 10,000" former employees
09/14/2012
New York Times Company
5,200 former employees
09/14/2012 Sears Holdings unknown number of participants
09/??/2012 J.C. Penney 35,000 former employees
08/7/2012 Energy Future Holdings Corporation unknown number of employees
07/31/2012
NCR Corporation
23,000 former employees
06/01/2012
General Motors Co.*
42,000 salaried retirees
04/27/2012
Ford Motor Company
90,000 salaried retirees and salaried former employees

*purchasing annuities for those who don't take the lump sum

** purchasing annuities for another group of plan participants

print