Retiring from ExxonMobil in the next few years?
Your ExxonMobil pension, 401(k) and retirement timing, in one place
Guides, webinars and answers for ExxonMobil employees, and a complimentary call with an advisor who works with ExxonMobil employees.
Schedule a meetingThe Retirement Group is not affiliated with ExxonMobil.
Your ExxonMobil pension: what to know
Vesting
You become 100% vested in the ExxonMobil pension after five years of eligible service.
Source: Retirement Guide for ExxonMobil Employees, Pension Plan Updates
The pension formula
The basic formula is 1.6% times your years of service times your final average pay, minus a Social Security offset. Pensionable pay is the average of your highest 36 consecutive months out of the last 10 years.
Source: Retirement Guide for ExxonMobil Employees, ExxonMobil Pension Formula; Pension Plan Updates
Retiring before 60
You can retire without age penalties at 60. At 55 with 15 years of service you can retire early, but your pension is reduced by 5% for each year you are under 60.
Source: Retirement Guide for ExxonMobil Employees, Normal Retirement Age
Payout options
The pension can be paid as a lump sum, as a single life or joint and survivor annuity, or as a partial lump sum with a partial annuity (75%, 50% or 25%).
Source: Retirement Guide for ExxonMobil Employees, Pension Distribution Options
Interest rates
Interest rates affect the lump sum but not the annuity options. Rising rates lower the lump sum value, and lower rates raise it.
Source: Retirement Guide for ExxonMobil Employees, Interest Rates and Life Expectancy
ExxonMobil webinars
No new ExxonMobil webinar dates are posted yet. Our most recent ExxonMobil webinars, each with an article on the topic:
| Date | Webinar | Presenter |
|---|---|---|
| Tue Oct 13 | ExxonMobil Employees: Will Rising Interest Rates Reduce Your Pension Value? | Boudreaux |
| Tue Sep 29 | ExxonMobil Employees: Company Stock Tax Strategies Before Year-End | Mavar |
| Tue Sep 15 | ExxonMobil Employees: Post-55 Retirement Access Before Your Window Closes | Boudreaux |
Guides and answers
Talk with an advisor who works with ExxonMobil employees
Tyson Mavar presents many of our ExxonMobil webinars. Schedule a call with the next available advisor.
The Retirement Group is not affiliated with ExxonMobil.
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