Ring the Valdez bell 🔔
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Yes, get the PIN for the Voya account mailed to your home.
When I moved my Voya Account to Fidelity earlier this year, Voya would only do it over the phone, (no online option), and they wouldn't talk to me until I had the PIN.
Set your W-2 to go to your personal email.
You can set up a new account with an investment company by showing you have the assets in the Voya account. Once you separate from XOM you can roll your money over to the new account. Have my new account and rolling it over in October.
1) dookie in the elevator
2) gallon of Tide in fountain
3) leave a frozen durian somewhere
4) double middle finger salute photo in front of the Cube
5) don't look back when you GTFOH
Remember to post on LinkedIn how toxic (errr…. I mean great) the culture at XOM is and how much you have learned from your experience there.
Also, include the obligatory picture in front of the cube.
ok, @aoi+1c6z3Jdu. If youre not pension eligible, then youre less than 5 years....in that case, I would do a rollover to your new administrator.
The Voya plan seems pretty solid to me. It's very low cost and offers some generally strong investment options for long term investing. Yes, there is no bitcoin option, but im keeping my money there for now....(i resigned 2 months ago).
Thanks all, these are all super helpful! I’m not eligible for the pension so I’m just worried about my 401K.
in the past I’ve tried asking for my pin, and they insist they have to mail it to me. If I have an active account that I can sign into it, do I still need my pin to transfer it out?
- OP
Beat your section heads a-s
Remember to take a photo in front of the cube!
No rush to transfer out of Voya but agree at some point within a few months afterwards to do a direct rollover either to your new employers plan(s) or to a brokerage IRA. Don’t do a distribution to yourself our you’ll pay an early penalty withdrawal and tax on the distribution. But Voya’s investment options are severely limited so move it soon.
The Voya process is fairly simple. Do call them PRIOR to your exit and get your pin set up. This is crucial. Once you leave (and your certain your contributions are done) you simply call Voya, give your pin, and have them send a check to your new brokerage. If fidelity, vanguard, whomever, setup an IRA (Roth or regular, both dependent on how your 401k contributions were) and get the address of the check, and whom to make it out to. Voya simply takes this info and sends off your money. In a week or two, it will be in your new accounts. Really simple, kind of terrifying lol
With vacation, the pay can take a couple of weeks to process and will come on a 1st or 15th standard pay day. It appears to be taxed normally, so expect the usual percentage to be gone. For anything else, just make sure you transition your work (dont sc--w your buddies) correctly and enjoy the last couple of weeks and goodbyes. There is a survey from HR as well. I took it. I don’t have anything against Exxon and given the “unprecedented year” turning around at some point in the future, I would potentially go back. If you have decades of performance reviews, it could be worthwhile to print for future reference.
@OP Don’t sign anything EM gives you between now and when you leave.
Grab as many sticky-note pads as will fit in your bag.
And you are still due for vacation pay-out, I think.
If you are taking the early pension lump sum, putting it into the Voya account simplifies things and is tax free. You can then transfer out after the money hits your account.
First off, congrats
Here’s a good start - https://www.thelayoff.com/t/19GfL9SD
You can wait until you’re gone and do a rollover out of Voya into another brokerage with more choices