Does ExxonMobil have a pension plan?
Pension Plan
We're proud to offer our employees a lifetime monthly retirement benefit at no cost. Employee pension vests after five years of service. To be a retiree, employees must have at least 15 years of service and leave the company on or after age 55.
How does ExxonMobil Pension Plan Work?
ExxonMobil's Pension Plan and Savings Plan are designed to work with Social Security and personal savings to provide financial security in retirement for long-term career employees. The Pension Plan is designed primarily to provide you a monthly benefit from the time of your retirement until your death.
How is ExxonMobil pension calculated?
Except as provided in section 2.3 below with respect to former Mobil employees, as defined in the ExxonMobil Common Provisions (“Former Mobil Employees”), the amount of a person's Incentive Pension Benefit is determined by multiplying 1.6% of the person's final average incentive compensation by the person's years of ...
Does ExxonMobil give bonuses?
Exxon Mobil Corp. is suspending employee bonuses for this year after the crude-market collapse spurred a record run of quarterly losses for the oil titan. Top executives, however, will still receive stock awards.