PSG 25-28 get the boot Sept 11, six weeks of redeployment transition brings it to Oct 26 before you are officially terminated. Sixty days to return your severance paperwork brings it to Dec 21. Hopefully there is more time slop in the mix or payroll is slow at the end of the year so check will not be cut until the new year! PSG 24 and down should be good, starting a month later. All this assumes you EOI, if your exit is involuntary it is never “good” (needless to say).
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Read the chevron corporation 2020 special surplus employee pay program for involuntary termination or demotion summary plan description. "Your Severance Pay Benefit will be paid in a single lump sum as soon as reasonably practical after you qualify for it. Such payment shall not be made, however, before the later of the date your employment terminates, the date you submitted the necessary forms including the Release, and the end of the revocation period as described in the applicable Release." So its not too clear to me.
@xfa, If you're age 62 then I call you junior and always will, son.
fvw: LOL. At age 62 few call me junior any more. I suspect I might get the boot even if I don’t file EOI, but if needed I would be happy to work a few more years (as was my original plan). Severance provides some extra exit cash, but does not come close to matching all the benefits of an employee for the same period. If I do get a severance check, however, it would sure be nice to have it on next years taxes!
They’re not going to keep anyone that decides to EOI. They want “All In” going forward.
That's also assuming that they don't decide to keep you, then you have to resign and get no severance. Is that tight enough for ya? Tell us, junior.