Thread regarding ExxonMobil Corp. layoffs

Depends on what your cost of living will be post retirement. Assuming you’ll continue in post retirement at 100% same cost of living as pre-retirement, then the company pension will only cover ~30% to (at best) 40% of your living expenses. That’s not bad, but it also isn’t the windfall that everyone seems to think it is.

If you live a humble frugal life after retirement, it's pretty good.
It's the he-l you pay after you pass on that balances it out.
That's eternal.

There are plenty of retirement calculators out there...that do the XOM retirement math.

Best to pull your lump sum as soon as you can and insulate yourself from the Company changes post retirement.

Pension plan is mostly for employees in the US and Western Europe....now go figure why you guys belong to the High Cost Countries...employees in GBC didn't enjoy such perks and different rules also apply for business travels...so don't be surprise when HC employees are impacted when company want to implement cost savings plan...

Troll. The Company pension scheme is published on the Company website you make a guess at your potential final 3 years pay.

There is a Facebook group for retirees. Plenty of people complaining in there about the company changing the rules after they retired. Insurance being downgraded etc. don’t count on the company to not sc--w you.

A company that lays off employees regularly (announced or unannounced) to fund lifestyle of remaining employees and takes pride doing so. WeAreExxonMobil! Yey!

No, we are not part of the HR or management teams. We are just those that believe in the old art of working for a salary under the bosses rules.

This is an international corp with different plans for each. Even Beaumont grunts have a different plan. Gotta know a lot more to send adequate comparison

Looks like the down voters have stricken this thread again. Same group of people and possibly XOM HR or Mgmt. gang that's down voting posts?

@ueh+1fPJ5Yjc you seem to be one of those that would say next that people's salary is also available on their pay statement. Try to learn to read first, rather than jumping to respond.

15, 25, $30, 15

I hope this helps

30 years at 55. Best 5 average $205k. Annuity + pre SS = 7,200/ mo until 62. Then pull 2.2k / mo SS, losing 1.4 pre SS from pension plan.
At 65 pull about 1k/mo from previous employer of 5 years in 80s. At her 65, wife get 1.6k/mo SS. This, plus 1.5m in savings plan. Med Insurance supplement. Don’t have to touch savings. Farm and house and all vehicles, RVs, boat and tractors fully paid. Had nothing when started with company. Lived in some poor places like Si--y and Bud, but upgraded early. Put both kids through A&M by 46. You guys gotta quit buying high dollar stuff in early career.

Troll

Pre SS? Best 5 of last 10 years? Annuity or lump sum? Sounds that you’d do better with annuity, as you’d burn through a lump sum.
Hint 1: do not retire if you have any debts.
Hint 2: better retire now if you, like many others who have been successful in hiding those skeletons up to this point.
I have posted about 10 times on this board. At least 4 times my code to post is 69. Does anyone else have this going on?

Every employee can find this information on their annual compensation & benefit statement. You obviously don't work for Exxon and looks like you are just trolling here….