|
Text Size: Decrease | Increase
HeaderLogo
Benefits Online > Pension > Pension Program Changes



 
 
 
 
 
 
Pension Program Changes 

Upcoming Changes to the Northrop Grumman Pension Program

As announced on January 16, 2012, Northrop Grumman will make some changes to the Northrop Grumman Pension Program. It's important to note that these changes do not impact any benefit you have already accrued.


Briefings on the Upcoming Pension Program Changes for Employees Hired Prior to July 1, 2008

Overview of Changes

  • January 1, 2013 – Discontinue the supplemental 4% pay-based credit
  • December 31, 2014 – Freeze final average earnings in heritage plans
Who Will Be Affected By These Changes
  • Most employees who were hired prior to July 1, 2008 and participate in a pension plan

Who Will Not Be Affected By These Changes

  • Employees who were hired on or after July 1, 2008
  • Certain union employees and other employees who have never participated in a pension plan
  • Current retirees and employees retiring in 2012 

Please review the following for additional information regarding the changes to the Northrop Grumman Pension Program:

We have established a mailbox, AskBenefits@ngc.com, for employees to submit questions regarding these changes. Responses to general questions will be updated in the FAQs posted on this page. For questions specific to your situation, please call the Northrop Grumman Benefits Center at 1-800-894-4194. Benefits service representatives are available to assist you Monday through Friday from 9:00 a.m. to 6:00 p.m. Eastern time, excluding holidays. If you are calling from outside the United States, please call 718-354-1338. If you are hearing impaired, you will need to use a relay service through your TTY/TDD service provider.


These materials do not contain all the details of all aspects of the Northrop Grumman Program. Complete details about the Program are contained in the legal plan documents that govern plan operation and administration. If there is a discrepancy between the information provided in these Q&As and the provisions of the plan documents, the plan documents will govern. Northrop Grumman reserves the right in its sole discretion to suspend and/or reduce future benefit accruals under the Northrop Grumman Pension Program. It also may amend, suspend, withdraw, modify or terminate the Program at any time and for any reason. You will be notified of any significant amendments to the Program.

 2008 Pension Program Changes

For information about the 2008 Pension Program Changes, please click here.
Questions?
Call the Northrop Grumman Benefits Center (NGBC) at:
 
1-800-894-4194 
International:  718-354-1338
 
Monday - Friday
9:00 a.m. - 6:00 p.m. ET
 
Hearing impaired - please use the relay service
 through your provider.