What Is Changing
1. As a result of the U.S. retirement program changes, will Unisys end its contributions to the Unisys Pension Plan?
As announced on March 22, 2006, Unisys is ceasing benefit accruals under the Unisys Pension Plan effective December 31, 2006. As indicated on page 6 of the e-brochure, Unisys is required to follow certain rules and regulations under the Federal Employee Retirement Income Security Act of 1974, as amended (ERISA) and the Internal Revenue Code, including the requirement to fund at specified levels. Unisys intends to comply with those rules. Each year, the Plan’s assets and liabilities are reviewed by a specialist called an actuary who determines the contribution necessary to meet the government’s applicable funding requirements.
1. When will Unisys offer retirement planning workshops?
In the fall, Unisys will offer on-site workshops at several Unisys locations to help you with your retirement planning and your Savings Plan questions. Once the dates of the workshops are finalized, we’ll communicate the details to all employees.
But don’t wait to learn more. Retirement planning Web workshops are currently available through the Fidelity Retirement Resource Center at: http://personal.fidelity.com/retirement/?bar=c. You can register for and attend these Web workshops at any time to obtain specific information about making your investment choices. The workshops offered include: Retirement Savings Basics, Rebalancing Your Portfolio, Evaluating Stock Mutual Funds, Basics of Estate Planning, and College Planning Web Workshop.
How This Affects My Benefit
1. Is the trust fund for the Unisys Pension Plan fully
Detailed financial information regarding the Unisys Pension Plan can be found in the Company's Annual Report and other publicly available filings with the
Federal Securities and Exchange Commission (SEC). On December 14,
2005, all participants were issued the 2004 Summary Annual Report for the Unisys Benefit Plans, which includes information regarding the assets and liabilities of the Unisys Pension Plan as of December 31, 2004. The 2005 Summary Annual Report for the Unisys Benefit Plans will be issued to all participants in late 2006.
2. I understand I’ll still get my accrued benefit under the Pension Plan if I’m vested. How can I be sure I’m vested?
The benefits you’ve earned as of December 31, 2006 will not be affected if you are vested under the Unisys Pension Plan by that date. If you are not yet vested, you generally continue to earn vesting service under the Pension Plan if you continue to work for Unisys after 2006 or if you are on an approved leave of absence.
You generally become vested once you complete five years of service, or you reach age 65 and are participating in the plan while working for Unisys. If you leave Unisys before completing five years of service, or reach age 65 without being a participant in the plan, you will not receive any benefits under the Pension Plan.
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