You guys should be getting yours too if you left in July!
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What's the formula they use to determine the payout? Assume 12 years of service for the estimate.
This thread has degraded to discussion of contact hours and trivial vacation payouts.
Lump Sum is a retirement and/or separation payment of Pension lump.
Congratulations, OP.
Good old outsourcing
It’s a (bad) joke, isn’t it ? EM Benefits Admin’s hours are only 08:00–14:00 (Central Time), Monday-Friday. If I had only worked those hours, I would never have been able to get all my work done and I would have been sacked years ago.
Even though they say you’re calling somewhere in the US central time zone, if you get through to someone it’s painfully obvious that they’re in Argentina and English is their 2nd or 3rd language. Absolutely useless.
$60-70k for 7 years of service? Not bad, that's like a $10k bonus/year that most companies give
HR conveniently is closed at 2pm today. Been calling them since 10am. I will place a reminder to call them on Monday before thanksgiving. This is just ridiculous
I think I was shorted a week on vacation, as well. Need to place a call to HR.
Same for me. This is a joke.
Let me confirm... if u r vested in pension but are not old (for eg. 7 years in EM and aged in 30’s) u will be still receive a lump sum option for ur pension. This is valid for voluntary and involuntary termination of employment. In the future EM may decide to stop the lump sum option for “young” people, but that certainly wasn’t the case in 2020. Of course tax will be deducted. Also, this is not compensation for vacation, it is for ur pension. For the above said example, u can expect to receive around 60-70k$.
Fixed the typos
Vacation payout lump sums was less Than what it should be when i calculated it. I even took out taxes. The only way it’s correct is if Exxon is charging me 30% tax on my vacation payout. I was on hold for 1hr and no one from HR picked up. Sad.
I didn’t get a receipt in my email on how they calculated it even though I always got my W2 over the email.
Vacation payout lump sums was less Thant what it should be when i calculates it. I even took out taxes. The only way it’s correct is if Exxon is charging me 30% tax on my vacation payout. I was on hold for 1hr and no one from HR picked up. Sad.
I didn’t get a receipt in my email on how they calculated it even though I always got my W2 over the email.
Lump sum or vacation payout?
Mine was less than expected even with taxes removed. I have been on hold for an hr now to talk with HR
Lump sum of pension? How long have you been with the company?
Why did it take so long to receive your lump sum? Never took that long in the past.