Information Center

Companies that are offering lump-sum pension buyouts

Pension Rights Center

Note: This list is updated on an ongoing basis.

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, companies that have reduced or eliminated their matching contributions to employees’ 401(k) plans, and companies that have transferred their pension obligations to insurance companies.

Offer Made to
11/09/2016 Phibro Animal Health Corp. An unknown number of former employees
10/19/2016 United Parcel Service Inc. 50,000 former employees
05/24/2016 Ernst & Young Available to particpats who terminated prior to 01/01/2016 and won’t be receiving benefits until 06/01/2016
05/10/2016 First American Financial Corp. Certain participants, offer is upcoming
04/04/2016 International Paper Co. 47,000 terminated vested participants
09/08/2015 J.C. Penney 21,000 retirees and beneficiaries
08/24/2015 Newell Rubbermaid Inc. 3,300 former employees
08/21/2015 The E.W. Scripps Company 4,300 former employees
05/08/2015 Ashland Inc. 21,000 former employees
01/15/2015 Hewlett-Packard Certain terminated vested participants
10/22/2014 Ryder 11,000 former employees
10/09/2014 YRC Worldwide, Inc. An unknown number of former employees
October 2014 Celanese Certain former employees who terminated on or before May 31, 2014
Q3 2014 CNA Financial Corporation (p. 47) 11,000 former employees
Late 2014 Intercontinental Exchange 2,725 terminated vested participants
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
General Motors Co.*
42,000 salaried retirees
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

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