I have been with Chevron for about 20 years and have approximately $750K in my 401(k) account. I am wondering if that’s about average relative to others. Can you please share your range? Thank you in advance.
52 replies (most recent on top)
11 years, $500k, psg 23
May as well get this out of the way: “thought this was a layoff site…can’t share my balance because I was laid off…is this where still-employed losers go to gossip?”
Did I cover it all?
24 years. $2 million in the 401k, which has been mostly boring index funds all this time.
14 years, psg 23, $875
13 years, $1.1 mm. Maxed out 401k from day 1, invested all in S&P500 and sold all company stock. CVX is at the same place during this time whereas S&P tripled.
14 yrs, PSG 23, $800K
All about how much you save and where you invest it at. Looks like you are maxing out and doing well
Your lump sum will be: 11% of your Highest 5-year Average Earnings TIMES Years of Benefit Accrual Service before age 60 PLUS 14% of your annual Highest 5Year Average Earnings TIMES Years of Benefit Accrual Service after age 60.
So, for simplicity, 11% of your salary+bonus times years of service. That means if you have worked 9 years, your pension will be a year of pay. 18 years = 2 years pay.
Example, PSG 25. Salary $200,000, bonus $50k = $250k total.
$250,000 x 11% x 20 years service = $550,000.
18 years of working, 13 with chevron, $850k in my 401k.
PSG24 with 15 years. 893K. Pension, who knows, I certainly don’t go by Fidelity’s bs number.
$1.2M with 28 years.
I have $450K after 14 years. I’m a PSG 22.