Financial Planning for ExxonMobil Employees
Are you retiring soon or need help analyzing your current benefits package?
Our team of experienced financial advisors is available to help you through the retirement process.
Over the years, we have helped hundreds of ExxonMobil employees and executives review the choices that are available regarding the ExxonMobil Pension Plan, including:
- NUA (Net Unrealized Appreciation) stock in your ExxonMobil Savings Plan
- After-Tax contribution planning and Mega Backdoor Roth conversions in the Savings Plan
- Supplemental Savings Plan (SSP) and Supplemental Pension Plan (SPP)
- 401(k) loans and early distribution strategies
- Hedging concentrated XOM positions with protective options
- Stock compensation and RSU tax optimization
- Discussing your asset allocation strategy with the investment options available in the Savings Plan
- Other tax planning strategies like the Backdoor Roth IRA
We will also discuss whether you need or want to continue paying for Group Universal Life (GUL) insurance once you’re retired.
ExxonMobil Pension Plan (EMPP)
For many, the biggest decision at retirement is whether and when to take all or a portion of your EMPP benefit as an annuity or a lump sum. The year in which you retire can impact your taxable income if part of your benefit is from the Supplemental Pension Plan (SPP) or the Additional Payments Plan (APP). You should also consider the irrevocable nature of choosing an annuity. We collaborate with our clients who have benefits provided by ExxonMobil to help find a solution that’s most suitable for their circumstances. It’s a big decision — it’s worth a big conversation.
Bogart Wealth is not affiliated with or endorsed by ExxonMobil.
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