What retirement plans are offered by HP Retirement Services?

HP Retirement Services offers a variety of retirement plans designed to meet the needs of its retirees. The principal offerings generally include a defined benefit pension plan, which provides a guaranteed monthly income based on years of service and salary history. This type of plan often appeals to individuals who value stability and want predictable income in their retirement years. Additionally, HP Retirement Services typically includes a defined contribution plan, such as a 401(k) plan. This plan allows employees to contribute a portion of their salary on a pre-tax or after-tax basis into an investment account, which can grow over time depending on the performance of the selected investments. The company may also offer matching contributions, which can significantly enhance the retirement savings of employees. Moreover, HP Retirement Services may provide access to supplemental retirement savings programs, which could include options like Health Savings Accounts and various investment vehicles to further aid in planning for retirement. For those approaching retirement, HP Retirement Services usually provides educational resources and tools to help employees understand their options and make informed decisions. Information about these plans can change, and it is advisable for individuals to refer to the most current section of the HP Retirement Services website or other official sources for the latest details about the specific plans available and any eligibility criteria.