Thread regarding Chevron Corp. layoffs

EEEEEWWWWWWEH!! That's pretty gross, guys. Please take that to another site, please? I need to go puke.

Hmm. No worries about my gay man friend. He is treating me very well pounding me as often as I need with ample TLC. Mmm

@I8i4TqP-1ggi, Is your gay boyfriend doing the limp sum exercise up your sore keister? You sure seem, asshurt about it. I can assure you, if you are such an idiot to take the lump sum over one of the best annuities in the industry, then you are a complete fool and should be asshurt. I bet you are one of the douche-bags who also will claim that they can time the market. uuuuuh - good luck with that, dillweed.

And tell your gay lover to stop pounding you so hard so you can stop whining all over this site. You need a break from all that. You are sounding like a little girl, which is OK for your "real life experience" twinkie boyfriend, but not for the readers of this site.

I already did the lump sum exercise. I sent in my paperwork on January 28, 2015, and I received my lump sum on March 31, 2015. If you have not already done the exact same lump sum exercise and read the stipulation that it is paid at the end of the following month, then shut the f--- up. The OP is not asking about an annuity, and he/ she is not asking for a wild assguess on when it will be paid. Either have some real life retirement experience or shut up.

I think the payouts can only happen on the first of the month. So if you want your payout to be September 1st, sending your paperwork in after August 1st should work fine

No, it will not all happen that quickly. The OP is asking for a lump sum payout. I already did this exercise myself. It clearly states on the paperwork that the lump sum will be paid out at "the end of the month following the month in which the paperwork is received." That is why the OP has to submit the paperwork in July just to get the lump sum at end of August.

@1rih, you should ask that question to your Retirement Case Administrator (RCA), the person you were assigned to help you. Check your pension commencement papers. His name and extension phone number is mentioned in the cover letter. Initially, you elect the start date when asking for your pension papers. If you requested your papers early enough, it will give you enough time to sign them, photocopy, and return for processing. Chevron says it can take up to 30 days to process. In actuality, it was really 7-10 days for me. So, it's possible to get your pension started in the month you desire with timely processing. Coordinate by phone with your RCA to work out the timing. You'll be okay.

@I8i4TqP-qzd, If they paid you more than you are entitled too, I would want to straighten that out. Have you contacted them on that issue? You could suffer some embarrassing consequences for that in the future. It has happened before, it's not uncommon and they usually want it back, or they will hold back payments to equalize. I have heard of it happening at another company to a person. Either way, it's dishonest not to let them know. I suggest that you do the right thing. Just my opinion. It's obvious that if you didn't feel concerned enough about it you wouldn't have posted it on this site.

If I read correctly if you want your actual payment to be received by Sept 1, then you would have to get the paperwork in in July. If you turn your request in, in August you will get it the end of Sept 2016...

Maybe you should ask human resources this isn't a place I would ask for career advice.

-qzd, If all you were thinking you were supposed to get was $4389 then maybe that was a mistake in itself. you may want to recheck your math. My single monthly payment is more than what you are calling your "double". You probably want to clear that up. The IRS doesn't like funny business with pension payments. The pension people may not give a flip but you're on your own with the IRS. I learned that the hard way.

@tat, same thing happened to me. I wanted to start my annuity in June last year, but Chevron started my payment in May. But, I got something even better, it seems. All my annuity payments since then have been double what I'm supposed to get. Today is June 29 and I received my payment advise in the mail for my June 30 Chevron annuity. For the 13th month in a row, they are paying me $8,778 instead of the expected $4,389.

OP, your plan sounds logical... send in your pension commencement papers by Aug 1 to get paid in Septrmber. That was my plan last year when I sent in my papers to get paid. I elected the annuity option and wanted to start it in December. When I got my check the next month, they had paid me for November and December. Be cognizant that sometimes, things work out the way Chevron likes to handle it. I was already in the 28% tax bracket, so Uncle Sam took more than 1/4 of that "extra" payment.

My payout is pretty limp too, but my pecker is plenty stiff. So I will have to accept one out of two!

If you do that, then they will use the interest rate effective August 31st to calculate your lump sum, and the funds will then be made available "within 30 days" thereafter, so in other words you might not get your funds until the end of September. If you want the money be September 1st, then I recommend you mail in the paperwork sometime within the first half of July in order to get the money by late August.