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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
07/11/2014 RockTenn 9,000 former employees who have not yet retired
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
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

*terminating its plan

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