#retirement

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⬆️ If you can name more Micron layoff victims.

⬇️ If you can name more Micron Retirees (A true retirement, not left to work elsewhere)

So folks can retire earlier without taking such a reduction. Please make it years of service plus age = a magic number for full retirement pay. This would be the best way to get those higher salaries off the books.

Per the title, if you have or are in the process of retiring from Fidelity and meet the rule of 70, what date did you pick and why? I know to receive your profit sharing and RHR contributions, you need to be an employee as of 12/31. If you have shares and/or bonus eligible, it would likely be pro-rated for every other full quarter. So many retire in the spring and I don’t know if I’m missing something or did you just want warmer weather? 😊 TIA

Got an offer from TIAA at either Frisco or Charlotte (my choice family in Dallas and Charlotte so relocation money out of my pocket is minimal) but already have a job at another retirement services firm. TIAA pays more and offers better benefits but still have a job that is stable for probably another year. Should I take this one or keep my current one? Glassdoor and other sites make TIAA feel like a dumpster fire especially compared to where I am now.

Also saw another post about FIS where I have some experience with and wasn’t sure but don’t want to respond to that post. Didn’t want to take the role and get laid off if they change RK system too soon.

Some of us who are close to retirement would gladly take it, and I’m sure there are others who’d be interested as well. I’ve been here long enough to see that things aren’t exactly heading in a great direction.

Ok here are the facts and if you don't care then leave when the push you out. The medical alone is worth 22 to 25k per year exxon's part. The loss of lump sum at 50 years of age is 50 %. So lets say 500k for a 20 year service. So the medical would be 375k for 15 years coverage plus 500k equals 875k$ loss. For those with 30 or 40 years it would be much more of a loss. Those who were piped or nsied at 50 and 51 lost the most and should have consulted a lawyer. I don't know any employees separated during nre ages. At 55 you get medical and 75% of your lump sum. It goes up from there until 60 when you are at full retirement 100%. So now you know the truth about why you beloved supervisor or manager keeps asking when you will leave. There is definitely an increased pressure to get rid of older employees in comparison to years past. I and many others are being forced out and you will too youngsters. Beware the warnings and wisdom of the ones who have lived through this before.

Offer fair pension buyouts. Pensions are worth 1mill min over lifetime.

Something huge is afoot at the highest echelons of Oxy…We are witnessing real time projects to simplify the companies process and eliminate inefficiencies.

There’s increasing chorus to perform a 15-20% layoff in 2026 to satisfy the market and reduce retirement obligations…

Chime in with your thoughts and opinions

Out of work for over 8 months, and it’s hard out there.

I had a number of interviews where I lost out to an internal candidate…

when I really thought I was going to be hired. I came back, managed to secure a substantial pay increase in the process.

I took the job without hesitation, after being out in a very tough job market. > 50, > 20 years in…. I have a radically different view now of this place.

I’m going to just try to hang on until retirement, I will move afterwards 2 years into a different position, no more loyalty to the area I work in.

Been told that many employees 4-5 years from retirement was shown the doors this week. Some employees recently returned from any kind of leave also told they no longer have a job.
CLU, CLR, and the glass tower.

Greedy Calgary big wigs. What a joke!

Benefits took a major beat down! Glad I filed retirement two months ago. Sorry to those who have been giving it all and can’t .

Retired EE.

Curious, has Mutual disclosed how much the health care premiums will be going up in 2026 and how much in dollars for individual and family plans for retires?

I heard from a reliable source that a well known VP was complaining that too many employees were passing pip. His orders were to make it harder to pass so more employees would leave. My pip plan is very complicated. I completed all my task projects and they keep adding more to it. I protested but they said the pip plan could change depending on performance needs. I contacted HR and got no help at all. I was told the supervisors and managers were in charge. It feels impossible to satisfy the requirements of this pip. Oh well I guess I will retire. I will tell off that smug d-mb a ss supervisor and useless manager when I leave.

Heard the rumor above. Anyone else have details or confirmation?

There is a lot of talk about NRE and retirement eligibility. My questions are if you leave before you have 15 years and after 15 years. I believe at or after 15 years you get the medical and either the lump sum or annuity. If you don't get to 15 years no lump sum no medical coverage and annuity at 65. I am at a decision point in my career and don't want to miss a chance to leave. I as ked HR and they were no help. I don't think many of us young ones will make it to 55. When I say 15 years I also mean 55 years of age. I think I can make 15 years but not to 55 years old. Any advice is helpful.

Did anyone pay attention to the lay offs recently that have been occurring here and there that has been occurring in Fort McMurray at Syncrude/Suncor site recently?

Like it’s literally gotten business STUPID! To the point where it no longer benefits Suncor’s bottom line to lay someone off. Basically just gonna say it straight up as a true anonymous story… no names or positions identified. But basically people who are clearly planning to retire and have made it known in 3-6 months who worked for 25-30+ years who have disagreements with their higher ups and get an awesome package. (Even though they are retiring in 6 months). Even though Suncor could have had these peoples work and experience and only have to pay for 3-6 months, they would rather immediately lay them off for 2+ years pay. This is how stupid Rich Kruger’s System has become.

Basically my advice to anyone who is retirement eligible? Don’t even retire, never retire, just wait for the package. The recent incentive is instead of retiring with pride, a retirement party, instead just sit back and wait until your higher up gives you a package because basically you get more money. Suncor is incentivizing not retiring. Suncor is incentivizing laying people off. So the way suncor has been doing the layoffs recently is they are incentivizing being laid off.

PS TRUE STORY This happened and IS the route Suncor has gone, pure stupid where the lay off is just a disagreement with your higher up when your boss wants you to fudge numbers . (Again this happened boss wants you to fudge numbers and if you say ethically no I’m not doing it then your higher up lays you off). The higher up has an option to lay you off. (And give you a 2 year package if you were certain years service)

PRO TIP***. So basically my advice to anyone who is retirement age, just wait for the package. Tell your boss off if they ask you to fudge numbers and get a package. If they demand something . Thays where we’re at right now with our Canadian company, our pride in Alberta company… Suncor’s method that has gotten stupid where it no longer makes business sense to lay people off and just costs money.

Also Pro-tip if your boss wants you to fudge numbers, and you don’t want to be laid off, then you basically have to fudge numbers to prevent being laid off so make sure you are ready when you don’t want your boss to lie and fudge information.

Heard they were only planning to let 10 percent all the way to railroad retirement going forward and use the savings to hire people with 2-3x salary on H1B and other visas hiding behind remote work. The work they showed in the BNSF|tech showcase last week was all done by people who were fired so the so called new tech leaders could call their project their own. Nothin to show in 8 months and start stealing projects and firing people who did the work. If we don't stand up to remote work now, all the work will go to California folks while we Texans build the company.

Does anyone know or have a resource they can point me to that explains "cash pay" versus COBRA?

Here is my story and predicament. If anyone has gone through what I am going through please post. I don't need the sarcastic remarks about how exxon wants me out because I know that. I am 54 and on DPC plan with 13 years service. I was told that if they don't see enough improvement I could be piped or terminated. I am doing what they want but the manager keeps nit picking my efforts and focusing on extraneous goals. I was told they would write up my progress and the manager would decide. One of my old friends went through this a few years ago and was told the same things. In the end he was passed and made it to 57 and retired. I don't know if they are bluffing or really going to try to get rid of me before I can retire. I asked all of my old exxon retirees if any employee was terminated during NRE years and they all said no. Exxon could fire me and I can still retire with several million in the bank now so I am not that worried. i still want to get my lump sum and medical though. Any helpful advice from those being squeezed.

If you are displaced, don't forget to take advantage of things like vision insurance, dental insurance, etc.

Also, if over 55, look into 'Rule of 55'. 'Separation from Service' in IRS speak. It allows anyone 55 or older to withdraw funds from retirement account with no penalty. You will still need to pay taxes on any non-taxed (401k) funds, but if you have pre-taxed (Roth) funds, there will be no Fed tax. You will need to look into your state situation. For example, Iowa has no tax on retirement fund income.

Talk to empower

This may have been asked in previous posts but if so I missed it. Anyone know what the benefit is to change to Retired from Displaced? Doubt there is much just curious if anyone has done that recently. Thanks.

Can anyone who has been laid off or taken the package shed some light on what they plan to do with their 401k after their end date?

I can’t wait to be one of the “chosen ones” in the upcoming cuts. But I’m truly sorry for my younger colleagues, especially those carrying heavier burdens than most and now facing the possibility of losing their jobs. It’s brutal out there right now, and for the sake of the many good and decent people I’ve met here over the years, I really hope things improve soon. When they do, never tie your entire career or self-worth to one company. Your true value is yours alone, not defined by corporate expectations.

I had a frank talk with my manager this morning, who is a long-time friend.

Asked if I wanted a "retirement" package, as layoffs will continue until there's profit. My manager may get the cut, but will try to get me on the cut list if I want a package. VPs are dropping hints to management that this might be the last opportunity to get nominated for a package before it goes to HR formulas.

Also mentioned that there's not much future for the younger ones here at the moment, as they're offshoring much to lower-cost geos. Thus, if anyone gets a good offer, don't wait; just seize the opportunity and move on. I can't see light at the end of the tunnel for the near future.

Asked about the $5B Nvidia deal. Basically, I think it's a forced donation, and there is no clear direction on how to execute it yet—too many meetings without a runway. Our dev team is gearing up for this, but $5B won't get very far. If funds run dry, this may get moved to a lower-cost geo or ZBB.

Also, they said that there will be light at the end of the tunnel, but not in the near future, and I'm not sure how many of us will fall off the wagon as we travel along. Thus, the personal anxiety and stress may not be worth it.

The VBO offered by BC is weak and not good enough to entice takers, beyond those already planning to retire this year.

Does anyone know if Wellsfargo will give the 401k contribution in Dec if decide retire this month.

My motivation checked out years ago, but I still do what I have to to get through the day. Decades ago, I loved this place. If somebody told me then this is what it'd turn into, I'd have laughed in their face.

I guess I was a sleep at the wheel and misssed this announcement. Did anyone hear from Oxy about the new rules for the catchup portion of our 401K. It looks like you might still be able to add to a Roth, but I used the pre-tax catachup for years now since I am older and could use it. I guess the govt needs more upfront tax dollars. This is an extra 2K a year I will be paying in taxes. Glad I am retiring in 2026.

https://www.foxbusiness.com/economy/some-americans-lose-popular-401k-tax-break-major-retirement-rule-change-starting-2026

I’ve worked for a number of media companies but Paramount is, by far, the worst as of late. I’m counting the days until I’m out of this toxic place on 10/31 and thankful that I’m able to retire. For anyone thinking of joining this company- DON’T!

IBM does offer great Medicare advantage plans. When you make it here the grass is greener.

Liz is retiring from Chevron, and the Earth itself may need a moment to recalibrate. After 36 years of finding oil in places most people wouldn’t even vacation, she’s finally trading seismic data for actual peace and quiet. Somewhere, a basin is weeping.

Chevron’s official statement praised her “collaborative leadership” and “global impact,” which is corporate-speak for “she made miracles happen while we reorganized every six months.” Liz didn’t just lead exploration—she led the delicate art of pretending budget cuts were strategic pivots.

Her successor now inherits the impossible task of filling her boots, which are rumored to be made of titanium and sarcasm. Good luck, Kevin. May your PowerPoints be short and your dry holes even shorter.

So here’s to Liz: the geophysicist who could read rocks better than most people read emails, who survived more reorganizations than a filing cabinet, and who now gets to enjoy a life free of acronyms, alignment meetings, and the phrase “value creation.” May her retirement be rich in irony and poor in bandwidth.

how much would be my pension lump sum?

If I am 60 years old,
$230k average last 3 years salary
32 years service with Exxon & ExxonMobil
assume interest rate 3%

1.8 million?

With the ill-received change to the 401k employer contribution*, I wonder how many people are waiting to retire at the first of the year so that they can get the 2025 contribution.

Principal is having a major outage with no ETA for when you will be able to access your retirement fund.

Will he “retire”?
Now has a LinkedIn and hasn’t had one before for 10 years.

Retiree here. 30+ years in the mines. They told me my medical benefit credits would have some inflation indexation. But the competitive benefit landscape doesn’t include that, so… it’s gone! Thanks 3M! I wonder if the C-suite guys ever lose any of their Bennie’s…

I once had a claim manager tell me my house will be my retirement. I laughed at him and politely walked away. I retired early and got 50 to 60% of the pension. That was well over 10 years ago. Make your own plans. Listen to your heart and never let them control your future. You are in charge of yourself and know claims will take your health. Don't let them do it!

The question is, who is left to rif? Any news on rif calls going out week after next which will be a non-paycheck week? Or will they continue to make up more ridiculous work requirements to get the rest of us to quit or retire earlier than planned?

RE

New data shows 24% of people laid off between ages 50-65 can't find another job.

Those who do? Average 11% pay cut.

Men take 15% hits, women 7%.

The wait is worse: 55-64 year olds spend 26 weeks unemployed vs 19 weeks for younger workers.

Many settle for jobs without benefits, crushing retirement plans.

Half of older workers expect gradual retirement transitions.

Reality? 70% get the full stop treatment.

Save young or work forever. There's no middle ground.

• Source: Center for Retirement Research/Boston College/WSJ