Understanding how interest rates can impact your lump-sum is crucial for ConocoPhillips employees, especially those who reside in Texas.
Interest rates are back to trending in the right direction for ConocoPhillips employees, considering the lump sum option on their pension payment, moving into Q1 2022. Interest rates have dropped for individuals who wish to commence their benefits in Q4 2021 and again for Q1 2022. Over the course of 2020, interest rates dropped dramatically, which greatly increased many lump sum payments. However, interest rates spiked modestly from Q1 2021 to Q3 2021. While the overall trajectory of interest rates has been higher, the slight drop in the last two quarters should have the affect of increasing lump sum amounts momentarily.
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