Has anyone gotten there letter regarding the lump sum payment for pension that was in the involuntary group?
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Just received pension pack today via certified mail with commencement date June 1. Lump sum + other payout options are available. Forms must be returned at least 35 days prior to benefit commencement date.
OP here - #1 & #2 are good, waiting on pension information.
While I got everything else handled, I have not gotten anything regarding the pension lump sum or other options.
I never received any sort of package information in regards to having a case manager, possibly due to being an expat at the time of being laid off.
Are we talking about 3 different things ?
1) 401k plan managed by voya
2) severance payout
3) xom pension
I know I already got the first two handled in early February and would find it surprising if others were still waiting on access to both of those at this point (late March).
@1ero+19WRb6oI Good question, your case manager is named in the package. So no, you won't know it until someone takes on you and elects to be your case manager. Be patient, it will come.
Who the hell is my case manager?
30 days from your last pay, your Benefits Case Manager creates the package for you. If you don't follow-up, your case manager will snail-mail the package within 2 months. And that leaves you 1 month to decide.
Nothing yet for me either. My trip to the mailbox is always of anticipation, then disappointment.
@ilh+19WRb6oI
The letter better come before June. The election to take the lump sum has to be made within 90 days of your last day on payroll. The actual date they use for the calculation and the initiation of the paperwork to take the lump sum is June though. Maybe that is what they meant?
Nothing yet for me either. My trip to the mailbox is always of anticipation, then disappointment.
@ilh+19WRb6oI
The letter better come before June. The election to take the lump sum has to be made within 90 days of your last day on payroll. The actual date they use for the calculation and the initiation of the paperwork to take the lump sum is June though. Maybe that is what they meant?
For those of us laid off in Feb, the lump sum letter should be coming in June..per the benefits line. But I am going to follow-up in April. Given my terrible experience with Voya and Computershare on my 401k rollover, they will need some "coaching" to get it right...
Again, nothing here. You would think since the acceptance was submitted in November we would have something by now. The entire process has been a cluster......
OP - Told the same to me, but when calling today, it's apparent the whole process is FUBAR. She did confirm the request was submitted a bit over a week ago, and that it takes 45-60 days. I'd say a reminder to call them every 2 weeks until you get confirmation it's sent out. You know this company is going to play games, and especially is not in a rush to disperse this amount of money...
OP here, I have also called the benefits line, they were of little help. I talked to them about 3-4 weeks ago and was told they were going to be sent out that week...still nothing.
Figured I’d ask here to see if anyone else got it yet.
Call the benefits hotline. I just got off the phone with them asking several questions regarding lump sum and retirement rollover, actually were quite helpful. They confirmed the request for processing to get paperwork to me for the lump sump was just initiated a little over a week ago. The lady told me it can take 45-60 days to complete... EM sure is gaining lots of efficiencies offloading this work to low-cost countries!
PIP-ee here. Never just received a package or letter. Only heard about the opportunity through word of mouth.
With how sloppily they’re handling things, odds are you have to reach out. Call Benefits administration and ask or reach out to them on the online portal (slower).
Nothing here either
Unfortunately, I haven't seen anything yet.