Update on Interest Rates and how they're affecting the pension lump-sum calculations for ExxonMobil employees | 4th Quarter, 2020, and 1st Quarter, 2021. We're talking specifically about the defined benefit plan aka pension plan and potential layoffs news you may need to be aware of.
ExxonMobil uses a formula to calculate what they have to give you as a single-life annuity for the rest of your life.
It's important to remember the 55 plus 15 rule. You have to be 55 yrs old and have 15 years of service to be considered a retiree and not a termini
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