Thread regarding Anadarko Petroleum Corp. layoffs

Anyone actually receiving VSP payout?

Has anyone actually received the VSP check? Early, but I’ve heard no one has actually received the check even for those who left months ago.

Anyone?

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Post ID: @11D4QmWB

9 replies (most recent on top)

30-60 days after termination you will receive an election form of how you want your PWA money to be handled (cash payment now, rollover to IRA, annuity payments, etc.) .... by law, you have to wait 30 full days from the time you receive your election forms before you respond. Once you elect how you want to receive your money, it will be sent to you another 30-60 days later. So your PWA will be received 90-150 days after termination. This procedure has nothing to do with Oxy and it would have also applied even under Anadarko’s management if you were terminated or resigned.

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Post ID: @11D4QmWB-dwqk

@bfar: Our PWAs are ours, Oxy can't do anything about that. I read something somewhere that we hear about that like a month or two after termination. Sorry I don't recall where. But we'll get it. It was also discussed in the VSP FAQ sessions.

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Post ID: @11D4QmWB-csto

What about our PWAs? Those used to payout at resignation or is Oxy gonna lock that $ up as well?

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Post ID: @11D4QmWB-bfar

Stock yes, nothing else.

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Post ID: @11D4QmWB-avfo

8foa troll elsewhere

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Post ID: @11D4QmWB-8yza

NO - in fact, they have not granted the long term incentives as required by law under the VSP and have not homered the stated VSP agreement in general. ~Survivor

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Post ID: @11D4QmWB-8foa

Accrued PTO is paid out a couple weeks after your term date. Stock seems to vest about a month after your term date. I expect the lump sum, including the bonus payout, cash lump sum, and the additional year of PTO, will be paid closer to 70 days after your term date, but I don't know as I'm not there yet and haven't received that portion yet. Individual results may vary, and the timing of the signing of the general release may impact things as well.

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Post ID: @11D4QmWB-7msf

Yes, but coming in sections without explanation.

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Post ID: @11D4QmWB-7pbg

Since the Change of Control reads that payments will be made within 70 days or termination, my guess is that Oxy will make the VSP payments close to that 70 day marker. They can gain a bit of interest on the payments to all of us, by waiting for 2+ months instead of paying out right away. So my guess, is calculate 70 days from your termination date, and don't expect the payments to hit your account too much earlier than that.

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Post ID: @11D4QmWB-1ihu

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