To help you think about how your life change will affect you, review the following list.
| Ask Yourself |
Take Action |
| I'm ready to retire. How do I start the retirement process? |
* Keep in mind that you must request your pension paperwork by the 15th of the month before your Benefit Commencement Date.
|
| I would like to retire in five years. How do I know if I will be ready? |
|
| I’m an early career to mid-career employee, what do I need to consider for retirement savings? |
-
Understand both your Pension and
Savings benefits, including company matching contributions
-
Consider potential tax savings and investment earning opportunities of maximizing contributions to both the
Savings Plan and your
Health Savings Account (for those participating in a
HDHP)
-
Review your financial plans and retirement goals with a
Goldman Sachs Ayco financial coach and
utilize their online tools and resources to help you build your savings
-
Consider using Vanguard’s Advice Services to be sure your investment portfolio reflects your time horizon and risk tolerance and that you stay on track for
retirement
|
| Where do I learn more about my benefits under the Phillips 66 Retirement Plan? |
|
| Where do I learn more about my benefits under the Phillips 66 Savings Plan? |
|
| Where can I learn more about my options for health coverage in retirement? |
|
| Do I need a financial advisor? |
- Many people find it to be helpful to work with a financial advisor, however there are costs associated with these services
-
You may review your financial plans and retirement goals with a
Goldman Sachs Ayco financial coach and
utilize their online Retirement Planning tools and resources at no cost to active employees
-
Advice services are available through Vanguard to help you be sure your investment portfolio reflects your time horizon and risk tolerance, and help you stay on
track for retirement – costs vary by program
|
| Is my Ayco financial coach the same as a financial advisor or planner? |
-
Goldman Sachs Ayco financial coaches available through the Phillips 66 Well-Being program are not financial advisors, but they are trained and
knowledgeable in Phillips 66 compensation and benefits - visit the
Goldman Sachs Ayco Financial Coaching FAQs
for more details
|
| Am I feeling anxious about this life change? |
-
Daylight is a digital medicine app for managing anxiety available to
active employees and dependents age 18+ enrolled in the HDHP or PPO medical plan.
|