News

NCR aims to downsize US pension plan via lump sum payments

August 25, 2017

NCR Corp. will offer a voluntary lump sum payment option to approximately 7,000 former employees or their beneficiaries who are deferred vested participants in the company's U.S. qualified pension plan, and who have not yet started monthly payments of their basic pension benefits.

In a press release, the company said the action will provide eligible participants with additional benefit payment options not normally available to them, while potentially reducing the size of the company's U.S. plan.The lump sum payment offer is being funded with existing plan assets.

NCR will contact eligible participants about the offer by mail in early September, and expects to complete payments by year-end.