slide #7
nothing new to report. 20-25% was always the number they had talked about
6 replies (most recent on top)
To sgh, thanks for the followup. You are absolutely correct. The purpose of my post was to highlight the attractiveness of the Chevron annuity as a pension option. Many folks are enamored by the large figure they see as their lump sum payout. Both are actuarially equivalent based primarily on your statistical life expectancy. However, your point is well-taken about balancing a guaranteed income stream (annuity) with that of a well-funded 401k portfolio. It's the best position to be in. Now if you factor social security as an additional income source, life in retirement is even better. Thanks.
Poster @Gk8F8Gv-hbz is a Jackass spreading unfounded rumors who posts the same comment under numerous threads every so often without starting his own thread. He is a known troll. Also, the lump sum and annuity are actuarily equal, no loss/gain either way for the company or the employee/retiree so @Gk8F8Gv-hbz, get a clue, and a life.
@Gk8F8Gv-afj, If you've answered Yes to all of your questions, in many cases taking the annuity is still the preferred choice. A sizable 401k paired with a guaranteed 100% survivor pension can be a beautiful thing. The Chevron annuity offerings are highly preferable to what can be found on the open market. There have been other threads discussing this at length on this site.
Ask yourselves these questions: Do you consider yourself a good investor? Have you sizably grown your 401k over the years you've been working? Do you review your 401k and reallocate your investments often? If you've answered "no" to any of the above, then taking your pension as an annuity is likely your best choice. When you take the lump sum, you will be responsible to allocate the investments properly, weather downturns in the market and cut back on your withdrawals as needed to make your money last. Do you want to chance this yourself or would you prefer guaranteed monthly income for the rest of your life? Choose wisely.
Word going around that there will no longer offer Lump sum on Pensions, They would rather hold onto your millions and make money off of it. going strictly Annuity. We all seen this coming.....
3k cut to date
4k to-go
More will follow if prices don't recover. We have one year to be cash flow positive and it WILL happen regardless of the long term impact to the company.
I really wish we had leadership who would play the long game because that'show you win in this industry. Instead we go on spending sprees when prices are high and asset development and acquisitions are expensive.