Chevron Expression of Interest (EOI)

At Quotient Wealth Partners, we know Chevron employees face uncertainty during organizational changes. Our advisors have experience helping Chevron employees, executives, and managers in Houston, TX and San Ramon, CA, and we can guide you through Chevron layoffs, the Expression of Interest (EOI) program, and retirement planning.

Recent Developments: Chevron has announced major restructuring plans for the next two years. If you're affected, it's important to understand Chevron's Surplus Employee Severance Pay (SESP) Plan for 2025.
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Key Questions to Consider:

  • Should you participate in the EOI program?
    It's crucial to understand how the EOI program affects your financial and retirement plans.
  • Is now the right time to retire?
    If you're planning for retirement and eligible for a buyout or severance, is it beneficial to take that step now?
  • How will you manage your Chevron Retirement Plan (CRP)?
    Choosing between a lump sum and monthly payments can be tough, especially in a volatile market.
  • How might Segment Rates affect your pension lump sum?
    Rising interest rates could significantly impact your lump sum pension value. Stay updated with the latest segment rate numbers.

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Understanding Chevron's Severance Packages

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Recent Changes:

  • Department-Level Reductions: Layoffs are now handled by individual departments and business units, not company-wide.
  • Voluntary Opportunities: Voluntary separation opportunities may be available, but terms and approval rates can vary.

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What Shapes Your Package:

  • Location: Policies can differ by region (e.g. Chevron Canada vs. U.S. Operations).
  • Tenure: Long-term employees can often receive different severance terms compared to recent hires.

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What to Expect in 2025:

  • Financial Support: Severance packages will likely stay consistent with past structures.
  • Healthcare Coverage: COBRA benefits are expected to provide up to one year of coverage for eligible employees.
  • Important Requirements: Employees must meet specific criteria and submit all required documentation correctly and on time to qualify for benefits.

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How We Can Help

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For Employees Impacted by Chevron Layoffs or the EOI Program:

  • Evaluate if retirement is a good option for you now.
  • Understand important decisions about your benefits after leaving Chevron.

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For Employees Retiring from Chevron:

  • Help decide if a lump sum or annuity is better for your pension.
  • Guide you through your Retirement Restoration Plan (RRP), Deferred Compensation Plan (DCP), and how they affect your Chevron Incentive Plan (CIP), and Long-Term Incentive Plan (LTIP).
  • Assess how changing Segment Rates can impact your CRP lump sum.

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Additional Financial Considerations:

  • Clearly understand your Chevron benefits.
  • Determine the best time for your retirement.
  • Create a detailed retirement plan.
  • Understand your financial gap to replace your paycheck.
  • Use tax optimized strategies to maximize your retirement funds.
  • Optimize your contributions to your Employee Savings Investment Plan (ESIP).

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Why Quotient?

At Quotient Wealth Partners, our advisors have helped Chevron employees transition from the company. Our retirement specialists are highly knowledgeable about Chevron's benefits and retirement plans. We connect with empathic knowledge to help clients transition smoothly into retirement.

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Next Steps

If you're impacted by the EOI program or potential layoffs, now is the time to review the right strategy to ensure financial success after Chevron.

Book your no-cost, no-obligation consultation with one of our Sr. Wealth Advisors today.

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Book a Meeting

Learn More

Join us at one of our upcoming events where our advisors will focus on Chevron's EOI and ways to navigate an early retirement.

San Ramon, CA

Houston, TX

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