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ExxonMobil's Lump Sum Payments may have already Peaked as Interest Rates Jump

Feb 21, 2022 12:18:00 PM
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 January, recorded at: 1.41% / 3.02% / 3.36%. Over the course of 2021 and now into 2022, 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 rates rise consistently in 2021 and with the announcement of January segment rates those retiring in the second quarter will see an even further reduction in lump sums. This recent trend upward looks be an early indicator of bad news for ExxonMobil employees opting for a lump-sum in the future.


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

ConocoPhillips' Lump Sum Payments may have Peaked, With Jump in Newly Released Interest Rates

Feb 20, 2022 9:07:00 AM
written by The Retirement Group

ConocoPhillips employees considering the lump sum option on their pension payment, may have an opportunity to take advantage of lower interest rates in Q1 2022 before higher rates take into effect for the Q2 2022. Over the course of 2020, interest rates dropped dramatically, which greatly increased many lump sum payments. However, interest rates spiked modestly through 2021. While the overall trajectory of interest rates has been higher, the slight drop in ConocoPhillips rates for Q4 2021 and Q1 2022 should have the affect of increasing lump sum amounts, momentarily.

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posted in Pension, Interest rates, ConocoPhillips

Interest Rates at KP Keep Rising, Lowering Lump Sum Payments

Feb 19, 2022 3:44:00 PM
written by The Retirement Group

Lump-sums are decreasing for KP employees who wait to commence their pensions lump-sum.  With both short, medium, and long-term rates rising over the last month, the higher average rate will result in lower lump-sums for those retiring in March of 2022. When KP employees elect the month they would like to begin their pension, KP looks back to two months 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. However, rates have increased significantly over 2021 and 2022, causing a reduction in pension lump-sums.


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posted in Pension, Interest rates, KP

Interest Rates at Chevron Jump, Decreasing Lump Sum Payments Again

Feb 18, 2022 5:15:00 PM
written by The Retirement Group

Lump-sums are decreasing for Chevron employees who wait to commence their pensions lump-sum.  With both short, medium, and long-term rates rising over the last month, the higher average rate will result in lower lump-sums for those retiring in April of 2022. 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 2020, rates have increased, causing a reduction in pension lump-sums.


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posted in Pension, Interest rates, Chevron

Interest Rates for AT&T Employees are Rising, How Will This Affect Lump-Sums?

Jan 27, 2022 12:08:37 PM
written by The Retirement Group

Could Lump-Sums for AT&T employees be on the decline? The November interest rates,  which AT&T uses to determine lump sum values for everyone who retires in 2022 were released in December. We now have new monthly segment rates which show that interest rates are continuing to rise. Rates have been steadily increasing over the past year and with the recent announcement of next year's interest rates we are very likely to see a reduction in lump-sum values for AT&T employees who retire in 2023. AT&T interest rates decreased in 2020 causing 2021 lump sums to hit record highs. Based on the current trend of interest rates and monetary policy announcements it is likely that rates seen in 2020 will be the lowest for the foreseeable future - meaning that the Lump Sum Values for AT&T employees who retired in 2021 will likely be the highest for the foreseeable future. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship. 


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posted in Pension, Interest rates, AT&T

ConocoPhillips Lump Sums Decreasing, With Newly Released Interest Rates

Jan 27, 2022 7:35:36 AM
written by The Retirement Group

ConocoPhillips employees considering the lump sum option on their pension payment, may have an opportunity to take advantage of lower interest rates in Q1 2022 before higher rates take into effect for the Q2 2022. Over the course of 2020, interest rates dropped dramatically, which greatly increased many lump sum payments. However, interest rates spiked modestly through 2021. While the overall trajectory of interest rates has been higher, the slight drop in ConocoPhillips rates for Q4 2021 and Q1 2022 should have the affect of increasing lump sum amounts, momentarily.

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posted in Pension, Interest rates, ConocoPhillips

Interest Rates at KP Continue Rising, Decreasing Lump Sum Payments

Jan 25, 2022 3:55:00 PM
written by The Retirement Group

Lump-sums are decreasing for KP employees who wait to commence their pensions lump-sum.  With both short, medium, and long-term rates rising over the last month, the higher average rate will result in lower lump-sums for those retiring in March of 2022. When KP employees elect the month they would like to begin their pension, KP looks back to two months 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. However, rates have increased significantly over 2021 and 2022, causing a reduction in pension lump-sums.


Read More

posted in Pension, Interest rates, KP

ExxonMobil's Lump Sum Payments are Decreasing as Interest Rates Rise

Jan 25, 2022 3:52:02 PM
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 December, recorded at: 1.16% / 2.72% / 3.10%. 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 rates rise consistently in 2021 and with the announcement of December segment rates those retiring in the second quarter will see an even further reduction in lump sums. This recent trend upward might be an early indicator of bad news for ExxonMobil employees opting for a lump-sum.


Read More

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

Interest Rates at Chevron Keep Rising, Lowering Lump Sum Payments

Jan 25, 2022 3:18:00 PM
written by The Retirement Group

Lump-sums are decreasing for Chevron employees who wait to commence their pensions lump-sum.  With both short-term and long-term rates rising over the last month, the higher average rate will result in lower lump-sums for those retiring in March of 2022. 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 2020, rates have increased, causing a reduction in pension lump-sums.


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posted in Pension, Interest rates, Chevron

AT&T Lump Sums Likely To Drop in 2022 With New Interest Rate Announcement

Jan 6, 2022 4:07:25 PM
written by The Retirement Group

The November interest rates, which AT&T uses to determine lump sum values for everyone who retires in 2022 have been released. Rates have been steadily increasing over the past year and with the recent announcement of next year's interest rates we are very likely to see a reduction in lump-sum values for AT&T employees who retire in 2022. AT&T interest rates decreased in 2020 causing 2021 lump sums to hit record highs. Based on the current trend of interest rates and monetary policy announcements it is likely that rates seen in 2020 will be the lowest for the foreseeable future - meaning that the Lump Sum Values for AT&T employees who retired in 2021 will likely be the highest for the foreseeable future. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship. 

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posted in Pension, Interest rates, AT&T

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