Thread regarding ExxonMobil Corp. layoffs

Pension vesting for boomerang hires

How does it work for XOM employees who left and then return? The formula is: 1.6% x N x Ref Salary

Example:

  1. Hire leaves after 6 years (took lump sum). Works somewhere for a while and returns. Does the pension years of service continue at N=6 or reset to N=0?
  1. . Hire bounces at 4 years and comes back. Would this person vest after 1 year if re-hired?
  1. It all assumes the pension exists, which is obviously not a given
  1. It assumes someone enjoys XOM and wants to return
by Anonymous
| 1181 views | | 8 replies (last February 16, 2024) | Reply
Post ID: @OP+1r3ryohw
Comment! It's anonymous!

8 replies (most recent on top)

@dom+1r3ryohw what is the WA group?

by Anonymous
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Post ID: @3yfw+1r3ryohw

DS - probably not worth coming back.

by Anonymous
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Post ID: @2fbv+1r3ryohw

Clock restarts if you took payout

by Anonymous
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Post ID: @tua+1r3ryohw

Unless there are MASSIVE cultural shifts, anyone even thinking of coming back should be perceived as someone who couldn’t assimilate somewhere else, and is worse than they are willing to admit.

by Anonymous
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Post ID: @qbl+1r3ryohw

I’d rather chew off my right arm than to come back to this horrible working environment. I suppose there are people out there willing to chew off their arm and take the abuse for money.

by Anonymous
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Post ID: @vjg+1r3ryohw

Why? Can’t find a better job elsewhere or glutton for punishment?

by Anonymous
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Post ID: @yyi+1r3ryohw

If you take the lump sum when you leave there is no way you still get credit for those years.

by Anonymous
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Post ID: @kjf+1r3ryohw

Welcome back, all resets. Check the WA group

by Anonymous
| | Reply
Post ID: @dom+1r3ryohw

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