Thread regarding Xerox Corp. layoffs

I think they just changed the percentage they calculated with in December 2018. I was not ready to retire so didn't take mine but it really didn't affect the projection that much. Conduent still handles our 401k management (although who knows as they try to continue to separate - they already moved our HSAs to a new company they bought called Wage Works) and State Street manages the pensions. I plan on leaving my 401k and pension alone for now. Though considering the lump sum option at some point because my spouse has an annuity plan that will pass to me and my next job also still has a DB plan but not sure what I'll do yet.

For PBU, the lump sum applies to those Xerox folks who had an old fashioned pension at Xerox. The pension fund has to be funded at an 80% level in order for people to take their pension as a one time lump sum vs an annuity. There have been concerns for the last couple of years that Xerox management will do something foolish so that employees can't take a lump sum when they retire or leave Xerox. The vast majority of people I know did take this option vs the annuity - I did, but haven't taken the 401K. However, with the latest software / design changes the site is less user friendly (IMHO), so I will probably roll that to an IRA as well.

Same here. When I retired I had my pension and 401K roll over to my IRA. I just did not trust Xerox to do the right thing if I had them manage my money.

What is the 2019 lump Doereceived it and have no idea what it is.

Ha, I got auto corrected. I should have spell it "more ons"

When I left a few years back, I took the lump sum and my 401k and rolled them both over into an IRA. I wanted all of my $$ out of Xerox so I didn't have to deal with mo--ns.