I've been with ExxonMobil for more than 40 years (I will be 67 in a few months). Yes, I realize that makes me a Baby Boomer, but save your criticism. I know I should retire, especially given the state of the company, but I don't want to. The pay is too good and honestly I've earned my way to this position. They will certainly have an incredibly difficult time replacing me when I do go, but I don't see that as anytime soon. I've worked too hard and given too much to this company to just go. So I'll be honest, I deserve it.
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The prior comment that the "pension is federally backed" is a common misunderstanding.
They are referring to the Pension Benefit Guaranty Corporation (PBGC) which is the government entity which is designed to protect bankrupt pension funds. What most people do not know is that the PBGC does not back 100% of a pension. They have limits to how much they will pay when they have to step in to rescue a bankrupt fund. The limits would replace maybe only 55 to 60% of the annuity for a typical EM employee (higher percentage for lower paid employees, lower percentage for higher paid employees).
Get the pension while you still can? You do realize that the pension is federally backed yeah? ...
Get your pension while you still can. They will contract you back shortly for some absurd amount to teach the workforce that knows nothing. Milk it.
I too worked for Exxon for 41 years and chose to retire last October of my own accord. I heard the rumblings of layoffs coming and chose to exit to hopefully be able to save someone else’s job. I lost my spouse 10 years ago and I had continued to work for the personal satisfaction I got from working as well as interactions with my coworkers. I am so sorry to see what has become of my former company. I wish you all well. EM treated me well during my career but it appears things have changed dramatically. Best of luck to all.
Well, then allow me to brag too OP. I am 70 and been with XOM for 43 years and love what I do. Happy now you fool! This is a limit to insensitivity for those of you that brag about own self when our good peers were axed.
Forget that lil allosaurus they found down under.
Here's a dinosaur as long as a football field.
At this point, I'd suggest a federal bank heist conviction to get any benefits in your dotardish days.
OP probably has to work because of a couple of financially painful divorces along the way. Otherwise, it is time for him to consider smelling the roses before It is too late. Time waits for no one.
@1mmx+1bgs9KMq
They already are working for free. The lump sum calculation goes through to life expectancy (75 for men). This fool could work themself right through to a $0 lump sum, lol.
This has to be a troll post. Some one with financial intelligence would retire at 60 and then go contract if they still want to work.
Anyone who thinks their fellow corporate bees and drones should do something “for the greater good” is either far too optimistic or ignorant, and will be taken advantage of time and again
I don't want your splooge-covered desk and acooterments, you drivelly old robot.
Your model went out of style and won't come back.
Skinny tie, thick tie, you just dangle on.
Cool story bro
Look at the impact of interest rates and pension lump sum. You are going to be working for free.
People have to apologize for contributing to society now?
Likely a troll post, however if true congratulations for costing someone their job last year. We lost several good team members because many of the dinosaurs refused to retire (even after multiple VP calls) because “work is my life” or they’ve made poor life choices and can’t afford to leave. Good job!
I assure you, that “magic report” you do every day or whatever meaningless drivel you work on that you think only you know how , is because it’s worthless and nobody cares to tell you the second you’re gone an excel macro will be replacing you
Lololol “they’ll have an incredibly hard time replacing me” - I guarantee you they won’t and you won’t be missed
I am a "dreaded millenial" and I don't want you to retire unless you want to @OP! If you like your job, get paid well etc you should stick around. I never understood why different generations fling p##p at each other on this forum. I watched my dad go through a forced retirement (different industry) and it was terrible so I would not wish that on anyone. It's pretty sweet that you like what u do and are well compensated. As someone recently hired on before the cullings- I don't blame folks like you. More so just scratch my head as to why they hired me and my new hire friends on in bulk only to immediately downsize over half of us for TMTS, HW3 etc.
67 and EM still lets you work, and you’ve got nothing better to do than brag about it ? Doesn’t sound like EM, doesn’t sound real at all. Last year the oldest worker that I know (he was 65) was forced out through the PIP. They even forced to take the voluntary plan STCs who were less than 60 and had only 20+ years with the company, and they let you work forever ? Unless it’s like in “Office Space”, they laid you off years ago but because of a clerical error forgot to take you off the payroll, and nobody has the hart to tell you that you don’t work here anymore.
I would never want to work in the corporate world past 50, regardless of the pay.
OP, I retired at 65 after 35 years. I had a great career at EM. Lots of satisfaction, significant career challenges, and eye popping international experiences working 5 continents and 35 countries The pay was famously and directly benefited my family’s quality of life in so many positive ways. Retirement came with a very nice financial reward which my wife and I will now enjoy for the rest of our lives. And yes, be honest, I deserved it. (Actually, it really blows me away as I come from a very humble background and never dreamed I would end up as I have. My engineering degree and hard work paid off big time!)
I wish everyone the same success.
I find this post rather ironic. Most Boomers call the Millenials entitled but this sounds like entitlement to me! No one is hard to replace by design at XOM and you are just asking for trouble in the current environment. Ask all the other REs that were "encouraged" to retire in February. Good luck to you!