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When it comes to managing your retirement, a small mistake can cause a major loss of capital. That is why it's important to speak with a financial advisor who is familiar with your Company's benefits. Schedule a call today..  
 
 
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Up-To-Date Market Week

Oct 18, 2021 3:37:32 PM
written by The Retirement Group

The Markets (as of market close October 15, 2021)

Despite a shaky start, Wall Street enjoyed a strong week of gains. A favorable start to corporate earnings season helped lift equities higher. Each of the benchmark indexes listed here posted solid weekly gains, led by the Nasdaq and the S&P 500. The dollar and Treasury yields slipped, while crude oil prices rose 3.5% to $82.25 per barrel. Despite the generally positive week, investors will continue to keep an eye on economic data and rising prices. Higher oil, gas, and other commodity prices could raise concerns about inflationary pressures and how they could drag down corporate profit margins. Materials shortages, rising wages, and shipping bottlenecks have driven up costs for producers. Many have passed these costs on to consumers, leading to more persistent inflation. Initial earnings data comes from banks and financial institutions. The next few weeks will see earnings reports from the bulk of companies in most sectors and may reveal the impact that inflation and supply demands has had on earnings margins so far in the third quarter.
 

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posted in Financial Planning, Lump Sum, Pension

ExxonMobil Lump Sums Fall, as Rates are on the Rise

Sep 29, 2021 12:00:00 AM
written by The Retirement Group

Interest rates are tending upward, if this trend continues it will decrease the value of ExxonMobil employees' pension lump-sums. The IRS has recently released the Segment rates for the month of August, recorded at: 0.66% / 2.50% / 3.12%. Over the course of 2021, interest rates at ExxonMobil increased significantly, which greatly reduced many lump sum payments. With record low rates culminating in the first quarter of 2021, ExxonMobil employees have since seen a significant increase in interest rates. We saw an increase in rates for the second & third quarters of 2021 in the second segment, and now fourth quarter rates have risen slightly higher. Rates rose roughly 0.04% in the second segment, in the last quarter. The short term rates have experienced a slight increase, while the long term rates saw a slight decrease. Even though blended rates for the first quarter of 2022 will not be known until the end of September, this recent trend upward might be an early indicator of bad news for ExxonMobil employees opting for a lump-sum.


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

ConocoPhillips Interest Rates Begin Upward Trend, Reducing Lump Sums

Sep 20, 2021 4:57:00 PM
written by Tyson Mavar RICP® of The Retirement Group (800) 900-5867

Interest rates are trending in the wrong direction for ConocoPhillips employees, considering the lump sum option on their pension payment, moving into Q1 2022. Interest rates had dropped for individuals who wish to commence their benefits in Q4 2021. Over the course of 2020, interest rates dropped dramatically, which greatly increased many lump sum payments. However, interest rates have been on the rise since Q1 2021. A segment rate increase in Q4 indicates an upward trajectory of interest rates. If this continues, lump-sums will rise again in Q1 2022. Should you desire to take your pension as a lump sum, ConocoPhillips will use interest rates and your age to calculate your lump sum payment. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship (except for Cash Balance Pension Lump Sum payouts). Even though it is too early to know blended interest rate figures for the first quarter of 2022, August figures were just released, and they show a slight increase, which is bad news for ConocoPhillips employees electing a pension lump-sum. August segment rates were recorded at: 0.66% / 2.50% / 3.12%.


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posted in Pension, Interest rates

Chevron Rates Decreasing, Pushing Lump Sums Upward

Sep 15, 2021 12:00:00 AM
written by Wesley Boudreaux of The Retirement Group (800) 900-5867

Chevron interest rates decreased 0.11% in the most influential segment for those who commence their benefit in November 2021. This correlates to this month's overall decrease in rates, and the result will be slightly higher lump-sums for those retiring in November. When Chevron employees elect the month they would like to begin their pension, Chevron looks back to the third, fourth, and fifth month's rates to calculate the rates used for the pension disbursement. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship. Through the pandemic, interest rates dropped dramatically which has greatly increased many lump sum payments. This trend culminated in record lows for individuals who commenced their benefits in December of 2020. However, since December, rates have increased, causing a reduction in pension lump-sums.


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posted in Pension, Interest rates

Chevron Interest Rates Decline, Raising Lump-Sums

Aug 19, 2021 3:02:31 PM
written by Wesley Boudreaux of The Retirement Group (800) 900-5867

 

Chevron interest rates decreased 0.19% in the second segment for those who commence their benefit in October 2021. This is the first time in several months that interest rates have dropped this much, and the result will be slightly larger lump-sums for those retiring in October. When Chevron employees elect the month they would like to begin their pension, Chevron looks back to the third, fourth, and fifth month's rates to calculate the rates used for the pension disbursement. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship. Through the pandemic, interest rates have dropped dramatically which has greatly increased many lump sum payments. This trend culminated in record lows for individuals who commenced their benefits in December of 2020. However, since December, rates have increased, causing a reduction in pension lump-sums.


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posted in Pension, Interest rates

ExxonMobil Interest Rates Trend Downward, Approaching Year End

Aug 17, 2021 12:00:00 AM
written by The Retirement Group

 

Interest rates are tending downward, if this trend continues it will increase the value of ExxonMobil employees' pension lump-sums. The IRS has recently released the Segment rates for the month of July, recorded at: 0.63% / 2.51% / 3.10%. Over the course of 2020, interest rates at ExxonMobil dropped dramatically, which greatly increased many lump sum payments. This culminated in record low rates for individuals that commence their benefits in the first quarter of 2021. However, we saw an increase in rates for the second & third quarters of 2021 and now fourth quarter rates have risen slightly higher. Rates rose roughly 0.04% in the most significant segment, in the last quarter. The short, medium and long term rates released by the IRS have displayed a slight decrease. Even though blended rates for the first quarter of 2022 will not be known until mid October, this recent trend downward might be an early indicator of good news for ExxonMobil employees opting for a lump-sum.


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

ConocoPhillips Interest Rates Trend Downward, Good News for Employees

Aug 15, 2021 12:00:00 AM
written by Tyson Mavar RICP® of The Retirement Group (800) 900-5867

 

Interest rates are trending in the right direction for ConocoPhillips employees, considering the lump sum option on their pension payment. Interest rates dropped for individuals that commence their benefits in Q4 2021. Over the course of 2020, interest rates dropped dramatically, which greatly increased many lump sum payments. However, interest rates have been on the rise since Q1 2021. A drop in Q4 indicates a shift in the trajectory of interest rates. If this continues, lump-sums will rise again in Q1 2022. Should you desire to take your pension as a lump sum, ConocoPhillips will use interest rates and your age to calculate your lump sum payment. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship (except for Cash Balance Pension Lump Sum payouts). Even though it is too early to know blended interest rate figures for next quarter, July figures were just released, and they are lower than the previous month, which may be good news for ConocoPhillips employees electing a pension lump-sum. July segment rates were recorded at: 0.63% / 2.51% / 3.10%.


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posted in Pension, Interest rates

Chevron Interest Rates Trend Downward, Slightly Pushing Lump-Sums Up

Jul 21, 2021 2:25:58 PM
written by Wesley Boudreaux of The Retirement Group (800) 900-5867

 

Chevron interest rates decreased 0.07% in the second segment for those who commence their benefit in September 2021. This is the first time in several months that interest rates have dropped, and the result will be slightly larger lump-sums for those retiring in September.  When Chevron employees elect the month they would like to begin their pension, Chevron looks back to the third, fourth, and fifth month's rates to calculate the rates used for the pension disbursement. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship. Over the last year, interest rates have dropped dramatically which has greatly increased many lump sum payments. This trend culminated in record lows for individuals who commenced their benefits in December of 2020. However, since December, rates have to increased, causing a reduction in lump-sums.


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posted in Pension, Interest rates

ExxonMobil Interest Rates Continue to Rise through the Fourth Quarter

Jul 20, 2021 8:00:00 AM
written by The Retirement Group

 

Interest rates increased, which will minimally reduce the value of ExxonMobil employees' pension lump-sums. Over the course of 2020, interest rates at ExxonMobil dropped dramatically, which greatly increased many lump sum payments. This culminated in record low rates for individuals that commence their benefits in the first quarter of 2021. However, we saw an increase in rates for the second & third quarters of 2021 and now fourth quarter rates have risen slightly higher. Rates rose roughly 0.04% in the most significant segment, in the last quarter.  


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

ConocoPhillips Interest Rates Decrease, Raising Lump Sums

Jul 15, 2021 4:00:00 PM
written by Tyson Mavar RICP® of The Retirement Group (800) 900-5867

 

Interest rates are trending in the right direction for ConocoPhillips employees, considering the lump sum option on their pension payment. Interest rates dropped for individuals that commence their benefits in Q4 2021. Over the course of 2020, interest rates dropped dramatically, which greatly increased many lump sum payments. However, interest rates have been on the rise since Q1 2021. A drop in Q4 indicates a shift in the trajectory of interest rates. If this continues lump-sums will rise again in Q1 2022. Should you desire to take your pension as a lump sum, ConocoPhillips will use interest rates and your age to calculate your lump sum payment. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship (except for Cash Balance Pension Lump Sum payouts).


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posted in Pension, Interest rates