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Avaya Pension Plan
The Avaya Inc. Pension Plan for Salaried Employees operated as a defined benefit plan. It was established to deliver retirement benefits to salaried employees...
Avaya Pension Plan
The Avaya Inc. Pension Plan for Salaried Employees operated as a defined benefit plan. It was established to deliver retirement benefits to salaried employees of Avaya Inc. The plan froze in 2003. Asset allocations covered hedge fund strategies, real estate funds, private equity holdings, and commodities exposure. Former sponsors included Avaya Inc. with private equity backing from Silver Lake Partners and TPG Capital. Activity centered in North America. Nearly 8,000 participants received coverage. Trusteeship transferred to PBGC in December 2017. BNY Mellon acts as trustee and custodian while Franklin Mutual Advisers provides investment advisory services. The plan now functions under PBGC statutory trusteeship following full termination.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Morristown
Corporate office
350 Mount Kemble Ave, Morristown, New Jersey, United States
Sector focus
Frequently asked questions
Who administers the Avaya Pension Plan today?
The Pension Benefit Guaranty Corporation serves as statutory trustee since December 2017.
What asset classes did the plan hold?
Holdings included hedge funds, real estate funds, private equity portfolios, and commodities exposure.
When did the plan terminate?
The plan terminated on November 30, 2017 after freezing in 2003.
Which firms previously sponsored Avaya Inc.?
Silver Lake Partners and TPG Capital acted as prior private equity sponsors of Avaya Inc.
Who provides custody services?
BNY Mellon serves as trustee and custodian under the current PBGC structure.
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