There was a post awhile back on this forum with a check list of to-do’s before handing in your resignation. Does anyone have a copy they could repost here? Thanks!
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What amazing is this self serving clown keeps coming on here, replying to herself and belittling anyone that doesn’t agree with xom. She is one of the contributing reasons why this company is so messed up.
@e-o+1mtMEjFm
Suggest we treat employees with dignity and respect especially those that are forced to resign before they are 59 1/2 years old when they are eligible for 100% of their pension.
Do not burn bridges with former employees. If we do, it will come back to haunt ExxonMobil long-term. My guess is that our leadership team does not care about long-term relationships. Free cash flow trumps employee relationships.
Here's a running list of to-do items I've been saving for whenever that sweet day of my departure comes. Most of these items came from other posts & comments on this site/forum, so thanks to everyone in the past who shared their advice and experiences.
Congratulations, and I wish you happiness and success wherever you're going! I'm totally jealous and can't wait to be where you are someday soon =).
• Update EDA with personal email (to receive pay stubs and tax documents electronically)
• Record what date you started at XOM (you will need this later)
• Save all company contact information related to HR and benefits
• Save supervisor's contact information
• Clean out desk and take home personal belongings _prior_ to resignation notice (in case you get walked out)
• Download one year (or more) of past pay stubs
• Download record of unused vacation time to make sure carryover and unused days get paid
• Use any insurance benefits as much as possible
• Obtain an employment verification
• Print out the HR site page that says they will pay out pension lump sum and vacation carryover (for your records)
• Print out the lump sum estimates for your pension, if applicable
• Use all floating holidays
• Delete Zoom chat history
• Download/print copies of any plan documents for any plans that you will be in; retirement, pension, healthcare, etc.
• Convert any personal accounts (frequent flier, EYFPC, Voya, car rental, etc.) connected to your work email to a personal email account
• Make sure you have an account set up with benefits admin
• Download a copy of latest compensation and benefits statement
• Download past PDS documents/forms
• Save any useful external business contacts
• Send a farewell email to co-workers you liked
=== Other helpful posts on this site ===
• https://www.thelayoff.com/t/19GfL9SD
• https://www.thelayoff.com/t/1bHOnQ9E
=== Below are some helpful comments others have shared that I've saved ===
• "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."
• "Make sure you know your PIN for the benefits website and know what day you started at ExxonMobil. It has taken three tries to get my savings plan rolled into an IRA. It would have helped if I knew the information in my previous sentence. I am rather shocked that VOYA will only send a snail mail check to my IRA. When I left a previous job, I was able to handle everything electronically."
• "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"
• "No need to include HR. Your vacation will be paid. Just be sure and confirm the hours owed to you with your supervisor (I would get your admin to print it out from the system).
Ensure your primary email on your XOM accounts (benefits, 401k, pension, etc) is updated to your personal email. They won't do it after you leave.
Get all your annual checkups done (dentist, vision, bloodwork, etc)."
• "I resigned last year, cashed out my pension. Got the lump sum about 6 months after my resignation date. They send a physical check, which is easy to forward to Voya to roll into your 401k.
I know several others in similar situations who all took the lump sum. Half a dozen people, with years of service ranging from 8-20. Pension ranged from $70k-475k. It’s a function of years of service, your recent salary, and the discount rates , which are set by the IRS.
https://www.irs.gov/retirement-plans/minimum-present-value-segment-rates
You are eligible whether you resign or are terminated. You are eligible as long as you are vested in the pension (>5 years).
The pension benefit calculator on the benefits web site is accurate. Set your separation date, then set the benefits commencement date to +3 months from then and it will tell you to the penny your lump sum. The only thing that may change are the IRS interest rates, which can swing it a few %.
Taking the lump sum is a one time option available only in the benefits commencement package they send you within 90 days of separation. Call the benefits center immediately on separation and ask them to prepare your BCP and mail it to you. If you don’t take the lump sum in the first BCP window, they don’t have to offer it again. All you will be able to get is an annuity at 65, or a much much smaller annuity earlier than that.
Go to the benefits web pension calculator and see what yours is worth."
August 24, 2021 by Anonymous | 31 reactions (+31/-0)
Post ID: @xmk+1cuI67kS
Amazing that some of our employees are too stupid to even resign without a checklist. I hope you can fa-t without a written procedure.