I was asked to leave last year piped out before retirement eligibility. So I got my retirement payout information from alight. You are eligible to get retirement after 50 years of age. I was told I had to wait 90 days to get my lump sum payout. I was given the deadline of Feb 26th to submit my notarized paperwork. I sent it off on Feb 3rd and waited for a check. The check was supposed to come in March. I waited for two weeks into march and nothing. I called alight and they said it was late by one day and expired. They said they would send another packet to me. When I got the packet the lump sum was not available. I called alight again and they said I canceled the retirement in December of 2025 on the website. Alight said they sent an email to my exxonmobil.com email. I told them I never received the email because I did not have access to my work email. I am now fighting them to get my lump sum payout because I want to be done with this horrible company. I did not cancel my retirement and don't know if they are just sc--wing me around so they can save money by paying me over 20 years. If they don't allow my lump sum I will sue them as the amount is several hundred thousand dollars.
8 replies (most recent on top)
Can anyone retire at 50 or just under special circumstances.
Alight is an absolute train wreck. I've been dealing with them on a lump sum payout, and it's been awful. Sent a check and then cancelled it in error, and it's been a nightmare. It's literally been months and still not resolved. Whoever signed up for this got sold a false bill of goods, as they are making an absolute mess of everything.
I only found out about the rule change through a former co-worker who was pip’d out in 2022. Company quietly changed rules during COVID to allow lump sum payment before 55 and 15 years service. I dig around and found out it was true. Did my calculations and decided it was better mentally and financially to leave. Rolled the LS into a 401K and tripled my money.
@fe I knew they offered it to people, but hadn’t seen official documentation of the rules changes. Just friends that left telling me they were able to take the lump sum.
@ay rules have changed in the past few years to encourage more people to take the PIL.
When I heard that if you separate prior to retirement eligible, you are entitled to LS payout - I was gone. I left in 2021 at 50yo (with 21 years at the company) and received a check 5 months later which I rolled to 401K. That LS value has since tripled.
They keep dropping my beneficiaries.
While I don’t plan to drop dead, I am a single wage earner with dependents who aren’t adept at navigating uneasy systems. I have 0 confidence that my benefits will make it into my beneficiaries hands in the event of a tragedy, and frankly, that causes me significant stress.
If I die in a car accident tomorrow, and my grief stricken spouse has to call the number I provided in our emergency backup file, what would happen? I’m pretty certain no care or help and complete chaos.
Honestly, the number 1 thing the company could do to make me and my family feel valued is to have a separate service for bereavement where a beneficiary gets an individual and knowledgeable person to handle the transfer of assets.
Alight has been an absolute train wreck since they came on board in Jan 2024, nothing they touch gets done correctly the first time, they don't provide last names, they don't provide email addresses, they don't allow the different departments to collaborate on the same call to get all stakeholders on the same page, and our EM senior leadership do not care as HR is feeding them bogus and meaningless metrics and KPI. My suggestion is more clients need to advise via email hr.health.welfware@exxonmobil.com of this ongoing clown show, and hopefully with more real feedback the situation can be improved. Chalk all this up to our cost cutting outside CFO who is no longer with the company.
I thought you had to be retirement status (55 years old + at least 15 years with Exxon) to be guaranteed the lump sum and that anything less you qualified for annuity payments. That’s what I recall when I read the pension guidelines a couple years back.
I know they have been doing payouts for some of the people with less experience, but I assumed that was because they wanted those smaller liabilities off the books and it wasn’t as much of a direct impact to the cooperations cash as people with larger lump sum pension amounts.