Time & Attendance
By Timothy Pollard
Dec. 15, 2011
Hewlett-Packard Co. said it expects to contribute $597 million to its worldwide defined benefit pension plans in 2012, according to its latest 10-K.
HP contributed a total of $279 million to its U.S. pension plans and $458 million to its non-U.S. pension plans in 2011.
The company’s U.S. DB pension assets increased 13.1 percent in 2011 to $10.7 billion as of Oct. 31, the end of the company’s fiscal year. The funded status of its U.S. DB plans was 89.3 percent as of Oct. 31 vs. 86.5 percent a year earlier. The discount rate fell to 4.8 percent from 5.6 percent in the same period.
Assets for HP’s non-U.S. plans increased 3.3 percent to $13.2 billion as of Oct. 31. The funded status of non-U.S. DB plans was 80.7 percent as of Oct. 31 vs. 79.3 percent a year earlier. The discount rate rose to 4.5 percent from 4.4 percent a year earlier.
The asset allocation of HP’s U.S. plans was 57.8 percent fixed income; 17.1 percent equities; 12.7 percent private equity; 7.9 percent collective trusts; and 4.5 percent cash and other. The asset allocation for the non-U.S. plan as of Oct. 31 was 43.9 percent equities; 32.1 percent fixed income; 8.6 percent cash and other; 6 percent alternative hybrids; 5.2 percent real estate; and 4.2 percent hedge funds.
Come see what we’re building in the world of predictive employee scheduling, superior labor insights and next-gen employee apps. We’re on a mission to automate workforce management for hourly employees and bring productivity, optimization and engagement to the frontline.
BenefitsWhat is Earned Wage Access (EWA)? A Few Considerations
Summary Earned wage access (EWA) programs are an increasingly popular way for employees to access their...
benefits, earned wage access products, payroll, time and attendance
BenefitsEEOC says that employers legally can offer incentives to employees to get vaccinated in almost all instances
If you’re an employer looking to get as many of your employees vaccinated as possible, you can rest eas...
ADA, CDC, COVID-19, EEOC, GINA, pandemic, vaccinated
BenefitsFixing some common misconceptions about HIPAA
Ever since the CDC amended its COVID-19 guidance to say that the fully vaccinated no longer need to wea...
COVID-19, health care, HIPAA, human resources, wellness