The CIP bonus gets usually gets paid out in early March from my memory. When is the earliest you could leave and still get your CIP bonus paid out? If you left in January or February would you still get your CIP bonus paid out?
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The retirement estimator has an input for “bonus percentage”, which makes it clear that it’s included. I don’t know where it’s document.
@1ocd+1vsBWUs9 or anyone else who knows this, is CIP counted in our pension plan lump sum calculation? Does anyone have the plan reference that talks about this?
As everyone else has said. Try to tough it out through payout time. Plus like others have alluded to, layoff season is a-coming, so if you stick around until March you may have a nice severance check to add to the pile (that's my current strategy). If it becomes clear by March that EOI won't be an option for me, then I can bail on my own accord knowing that I didn't leave money on the table. Meanwhile, look into a leave of absence if you are in a place to take one. I'm working to signal to my leadership how unhappy I am here, and ideally a leave of absence makes it easier for them to let me EOI when the time comes versus their usual "you're so valuable to the company please just accept this cr-p job as it is" schtick
Just stay until the payout because you “might” get the extra bonus of a layoff as an attachment. That is if all that layoff rumor is true!
Don't take any chances, stick around a few more months until the check clears your bank. Chevron can always manufacture some reason not to pay you, good luck in chasing it down once you're out the door. The week after CIP payout is always entertaining in the office, to see who quits.
Stay until you receive it so the total boosts your average income for the pension lump sum calculation.
Pretty sure the CIP won’t be worth making life decisions around this year…
You get your CIP if you work through January 1 and are laid off or have enough points to retire. Other than that you have to be on payroll when it is paid out.
Who says they are paying a CIP this year :/
You had me at leaving.
Stay until you receive your CIP check. That’s the best way to ensure you actually get it. If you quit in Jan or Feb, you receive nothing. If you retire in Jan or Feb because you are eligible to retire, then you still receive CIP. If you retire after April 1, then the following year you receive a prorated portion of CIP based on the time you worked. If you quit after April 1, you don’t receive anything the following year.
Can you get a smaller portion CIP if you leave before February 28th?
Can’t they just lay us off before the CIP payout though?
Dont do anything until the pay distribution with your CIP (Counter Incentive Program) is deposited
Yeah I had a friend play this out. Check gets deposited into your account March 7. He resigned March 8. I wouldn't do it any earlier. Could take all your vacation leading up to the if needed ......
The page on HR goes through several scenarios but you have to be on the payroll through Feb 28.
Still can be considered for CIP if you were still working through Q1 and were terminated for an eligible reason.
Look for CIP, receiving your award.
I am also wondering the same thing, LOL.