i’m in shock. wasn’t expecting it but can anyone help me with the things i should take care of before my leaving date in june. i have full medical. im 60. thank you for any and all advice. 😀
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How are you able to negotiate your severance?
In the USA. If you have $ in flexible spending account, incur those charges before you retire/are severed. I lost money because I thought I had until end of benefits year. (I had transitioned into retiree health program. )
My wife and I found consulting with Fidelity before being severed very beneficial . It was a BP benefit to get financial planning from them. (I believe this is also case for any employee)
What part of the business are you in?
thank so much. this was so helpful!
- Make sure you understand all the BP retiree benefits that seems you are vested. That should include PWC financial advisor for life. Set an appointment ASAP and build a relationship with one you like and get their financial advise
- Talk to fidelity about any outstanding pans you may have. You may want to set withdrawals till year and and let the loan be turned into income next January so taxes are due in 2026
- there is a piece of advise to try negotiate your severance. I wa so fed up I signed it and are moving on
- read and model everything in the severance package and ask questions if you have the slightest doubt.
- start reading job postings and imagine how AWESOME your next job will be without the current toxic work environment at bp which given the strategy “evolution” is likely going to get worse
- focus on the positive time you spend at bp, the good people, the good projects and try not to focus on the negative. It will also reflect in your next job interview and you’ll make a much better image focusing on the good than listing complains why you left…
Change is good, embrace it and don’t look back!!!