Thread regarding Chevron Corp. layoffs

Never mind @gohb. My failure to read the OP’s original post. I’m not sure about the annual fee, but I don’t think Fidelity will want to handle the transferred Vanguard funds for free. They also manage their own funds and would like to see Chevron ESIP participants transfer most of their money into their own products.

@gohb, I’m confused. What is the 0.05% fee you are talking about in the contract that Chevron will not pay? Are you referring to a management fee that Chevron Corp is supposed to be paying Fidelity for handling the ESIP/ESOP 401k? What is the source of your information, please.

Chevron will not pay this 0.05% fee. It was negotiated in the contract. I am not sure how the employees are getting screwed in this shift but this isn't the way.

I read today that both Vanguard and Fidelity websites experienced problems on Monday when the meltdown was happening. What did Fidelity do? They apologized by giving some free trade allowances to their customers. Outrageous! To me that’s no good. Fix your damn trading platforms. That’s what your customers expect and demand.

Instead of whining, if somebody doesn't like the content of a message board post, they should simply opt to not read it. I know there are posts here that I appreciate and others think are a waste of time and vice-versa, but the board is better with more content. Personally I appreciate any information on Fidelity or changes in CVX programs.

I requested a small partial rollover of my Vanguard ESIP 401k into my personal Vanguard IRA account about a week before before the transfer over to Fidelity took place. I couldn’t believe it took Vanguard 5 trading days to complete the transaction. I made the request on a Monday and the funds were finally available in my IRA on Friday. Lousy service in that regard.

That tends to happen when the Dow is down more than a thousand points. Not everyone can fit through the exit door at the same time.

Today, Vanguard's system went down near the end of trading hours. Couldn't make a trade on-line or get through to one of their service specialist. All my personal investments are following my 401k to Fidelity.

3lab, Yes, I am here, because I was let go, and seeking info for job searches, outlook for business picking up, opportunities, etc. I am not here as a current employee or retiree to chit-chat about my 401k or retirement assets and to flaunt in front of people laid off as a despicable arrogant A$$ without a life and with no friends to brag to. There are places for that. This is not it, unless you are a pathetic loser with no social life.

Any more questions?

-2inr: All you say is true...but, then, here you are!

Listen, Vanguard s---s and so do their mutual funds.

1pon, I also agree with irso and her/his comment. It's just weird how many people on here have no normal retired or normal preparing for retirement, 401k, etc., forums that they are members of, that they have to troll a layoff's board. It's pretty pathetic. I suspect that they are on the internet for the first time, don't know how to navigate it, and don't really have a life outside of work and have no friends, online or elsewhere. There are literally THOUSANDS of websites all over the internet for these topics. Why would anyone discuss 401k and retirement issues on a layoff's website? Wouldn't you want to hear from actual, genuine successful people who are knowledgeable about these topics? Most of the people here are upset, bitter trolls spreading misinformation. About 75% of the comments posted here are false and/or garbage from disgruntled employees. Would you go to a group of people laid off from your company to find truthful & valid information about your 401k? Think about it.

Chevron isn't being charged the additional fee by Fidelity. Please don't circulate fake news or your interpretation of it. WSJ article doesn't allude to Chevron

I sort of like the little self-appointed content sherrif. He’s doing a good job. I nominate him for Layoff Beadle!

irso, maybe you should work on that resume instead of acting as the lay-off site content moderator. Possibly a new career?

That's interesting, you posting that on a layoffs website. Does it help people who are laid off find a job? Do you think that we should apply at Fidelity if we get laid off? The large majority of us laid off folks don't give a flying f--k about your 401k. If you have a layoff related topic, please post it, if not, scram. asswipe.