Want to Make the Most of Your Chevron Benefits?

Financial Planning for Chevron Employees

While working at Chevron, you may have questions regarding the specifics of the plans and benefits offered. By coordinating company benefits with your outside assets, we help you understand each offering so you can maximize your benefits and achieve your personal financial goals.

Incentive Plans

You want to make sure you are saving in the most tax efficient manner for you and your family. We can help ensure you are maxing out both pre-tax and after-tax in the ESIP, ensuring you receive the full 8 percent company match and annually converting after-tax money from your ESIP to a Roth IRA for tax-free growth. We will work with you to ensure you have the proper allocation taking into account all of your financial assets, not just your workplace savings.

 If you are a participant in the Chevron Employee Savings Investment Restoration Plan (ESIP RP), we can assist you in understanding how your choice of when to retire affects the after-tax value of ESIP RP as well as structuring the investments in your ESIP RP to work in coordination with the rest of your financial assets.

• Employee Savings Investment Plan (ESIP)

• Employee Savings Restoration Plan (ESIP RP)

Incentive Plans

At Chevron a significant portion of your compensation can come from the varying incentive plans. It’s important to coordinate the CIP and LTIP with the rest of your financial assets. We work with you to reduce overexposure to Chevron stock in a tax-efficient manner that’s fits with your overall financial goals.

• Chevron Incentive Plan (CIP) – We’ll help you maximize your annual performance bonus through tax planning, savings prioritization, and benefit eligibility assessment.

• LTIP Stock Options

• Stock Options (ISO) and Non-Qualified Stock Options (NQSO)

• LTIP Performance Shares

• LTIP Restricted Stock Units

Chevron Insurance Plans

You care about your loved one and want to ensure that if anything happens they will be protected. We can help you understand each insurance option and decide on a plan that works best for you, ensuring you are paying for what you need, but not buying what you don’t.

• Supplemental Life Insurance Plan (SLIP) vs Term

• Long-Term Disability 

Chevron Health Plans

We can help you understand the tradeoffs of specific plans, maximize your take home pay by optimizing your HSA and HC FSA accounts, and guide your contributions for health care costs and retiree medical costs in the most tax-efficient manner.

• Anthem HDHP

• Anthem HDHP basic

• Anthem PPO

Chevron Deferred Compensation Plan (DCP)

For those PSG 28 or above, we optimize your elections in the DCP in coordination with your expected retirement income, to ensure that you’re able to reduce taxes today and minimize them in the future.

Job Insecurity

If you’re affected by Resource Optimization Management (ROM) or Employee Selection Process (ESP) and are “left standing,” we can help determine if retirement is a viable option for you right now, as well as provide insight on the critical decisions about company benefits elections.

Are you unsure about future employment at Chevron or how an untimely layoff may affect your future? Our team is knowledgeable about Chevron packages and benefits. We can help you evaluate your goals, analyze your current financial status and plot the next steps forward.

Being Recruited?

Being recruited is exciting, but how can you know if accepting a position is the right move? We can help you map out the difference in value between your current job and the one you’re being offered. Oftentimes, it is hard to directly compare the value of two compensation packages. Whether you decide to take the job or not, we’ll help you optimize your elections — at Chevron or at your new company.

Retiring from Chevron

Most people only retire once, so they don’t have prior experience to draw from. We will walk you through your retirement wealth plan and ensure all elections are handled correctly so you avoid losing any benefits and minimize taxes.

Chevron Employee Savings Investment Plan (ESIP)

As you think about retirement, you might be asking the question: From where should I be taking the money I need for expenses? We can help you transition from accumulation to deaccumulation, making sure you understand which of your assets you should be pulling from in what order to minimize taxes and ensure a smooth retirement. In addition, we can assist with rebalancing your ESIP for your transition into retirement — taking into account your full financial picture.

If you are a participant in the Chevron Employee Savings Investment Restoration Plan (ESIP RP), we can assist you in understanding how your choice of when to retire affects the after-tax value of your plan as well as structuring the investments in your ESIP RP to work in coordination with the rest of your financial assets.

• Employee Savings Investment Plan (ESIP)

 Employee Savings Restoration Plan (ESIP RP)

 

CRP & Retirement Savings

One of the biggest elections you will make is how to receive your CRP and RRP pension benefits. It is important to understand the tradeoffs between lump sums and annuities, how changing interest rates can affect lump sum values, and the implication of timing and taxes. Before you make an irrevocable election, let us give you a second opinion.

• The Chevron Retirement Plan (CRP)

Chevron Retirement Restoration Plan (RRP)

 

Chevron Deferred Compensation Plan (DCP)

For those PSG 28 or above, we optimize your elections in the DCP in coordination with your expected retirement income, to ensure you’re able to reduce taxes today and minimize them in the future.

 

Setting Up Your Consulting Practice

Upon retirement from Chevron, many of our clients choose to continue working as a consultant. If you plan to do this, we can help you understand how to structure your finances and retirement to fit your new role.

• Liability Protection for LLCs

• Tax Deferral Strategies for Solo 401(k), Sep IRA and Solo Pension Plans

• Negotiating compensation with an understanding of how consultants get taxed (1099) over W2 employees

 

When Should You Retire from Chevron?

When you decide to retire from your career at Chevron can have a significant impact on your retirement income. Sometimes, this means waiting a few weeks or retiring just a month earlier. By understanding the payouts and tax implications of your benefits, along with the segment rates, we can determine your tax-efficient retirement date — optimizing your income into your retirement days.

 

 

 

Our WJA Chevron Advisor Specialists

Willis Johnson, CFP®

PRESIDENT & CEO
713-439-1200
wjohnson@wjohnsonassociates.com
https://www.linkedin.com/in/willis-johnson-10589114/
Thoughts From Willis:
Are You Ready for the Big Game? How to Avoid Financial Planning Risks and a Nail-Biting Finish Market Corrections Revisited and the Lessons We Learned

Willis Johnson serves as the president and CEO of Willis Johnson & Associates. As a Certified Financial Planner®, Mr. Johnson provides a full complement of financial services to individuals as they go through the transitions in their corporate life. Most corporate professionals will retire once in their life, but Mr. Johnson has assisted hundreds of clients to navigate through the retirement process over the course of his career.

In the span of over 35 years, Mr. Johnson has honed decades of experience assisting clients as they struggle with almost every important financial decision you can imagine. He has helped these corporate professionals to overcome their emotions and objectively assess their available options.

Mr. Johnson’s ability to listen to his clients’ motivations, paired with his acquired wisdom enable him to guide clients down a retirement path that maximizes their benefits while taking advantage of their unique opportunities along the way. Mr. Johnson considers himself both a financial advisor and a life counselor as he assists his clients in prioritizing their personal needs, offers realistic advice, and accompanies them on their path to financial success.

During his 35 years as an advisor, 13 years with a national financial advisory firm and 22 years as a principal at his own firm, Mr. Johnson implemented exclusive estate and financial planning techniques. His structured methodology-- customized for each client-- is still the basis of his approach today.

Building grounded, long-term relationships while understanding client objectives and goals is the foundation of Willis’ success as a Certified Financial Planner® professional. Mr. Johnson received a Bachelor of Business Administration in accounting from the University of Houston. He also practiced with a national CPA firm before obtaining his CFP® designation.

Nick Johnson, CFA®, CFP®

VICE PRESIDENT
713-439-1200
njohnson@wjohnsonassociates.com
https://www.linkedin.com/in/nick-johnson-cfa®-cfp®-585bb716
What Nick’s Reading
How Waiting 15 Days to Retire May Save You $50,000 in Taxes on Your BRP Payouts What You Need to Know When Contributing to Your Company’s 401(k) Plan

Nick Johnson CFA®, CFP® believes that financial planning is more than numbers on a balance sheet and a standardized process. People are unique and should be treated as such. As vice president and wealth manager at Willis Johnson & Associates, Nick’s goal is to develop a solid understanding of his clients while providing a proactive approach to comprehensive wealth management.

Nick is responsible for monitoring the financial health of his clients and providing timely updates regarding changes to their financial plans. To effectively monitor a client’s financial well-being, an advisor must have a firm grasp of the life passions and/or goals specific to that individual. It is Nick’s job to initiate productive conversations where he can combine his own financial planning wisdom with the unique emotional elements of a corporate professional’s life.

Overall, Nick measures financial planning success by his ability to help corporate professionals maximize their hard-earned money. However, Nick considers himself successful as an advisor when clients naturally turn to him for financial advice as they would like a trusted family member or close friend. In addition to serving as an advisor, Nick serves an integral role as a member of Willis Johnson & Associates Investment Committee.

The Investment Committee makes all of the decisions in regards to asset allocation, style/theme distribution, and security selection for their client portfolios. Nick’s strong analytical skills, dedication to the fundamentals of investing, and Chartered Financial Analyst designation bring unique insight to their investment decisions.

In school, Nick always had a passion for analytic research and analysis but found within himself the need to balance that with personal connections. These desires led him to pursue a dual major in finance and drama, along with a minor in economics from Trinity University. He thrived in the finance and economics classes, often finding himself leading study groups and teaching concepts that came easily to him.

While concurrently studying finance, Nick spent most of his free time in the theater department working on over 40 stage productions both in the department and the community at large. This in-depth study of the humanities let him deepen his understanding of the motivations and inter-workings of people, a skill he uses very much to this day.

After graduating from Trinity University, Nick began working as an investment analyst at Willis Johnson & Associates He started his studies for the CFA® exam during this time as well. After gaining experience on the investments side, researching funds, tracking investments, and trading large blocks of client accounts, he moved over to the financial planning arm of the company and later transitioned into a financial advisory role.

In addition to being a CFA®, Nick earned his designation as a CERTIFIED FINANCIAL PLANNER™ after completing the board’s preliminary financial planning experience requirements and certification exam in April 2018.

Nick is a Houston native and uses his passion for learning to inspire the personal and professional development of the city’s working professionals and executives. He believes in the power of education to impact both the individual and their community by enabling more informed decision making in terms of their careers, their money, and most importantly, their life goals.

Nick is a strong proponent of continued education, which is reflected via his heavy investment in his personal career, the careers of the WJA team, and the lifetime careers of the clients he serves.

During his free time, Nick lectures as an adjunct professor at the University of Houston Bauer College of Business, is involved in the CFA® Professional Mentorship Program, and is an active participant in the University of Houston Bauer College of Business’s SURE Program, which fosters a partnership between students and Houston’s business thought leaders and aspiring entrepreneurs from under-resourced communities.

When he’s not teaching or being taught, Nick enjoys spending time outdoors and embarking on weekend rock climbing excursions across the states.

Jason Mishaw, MSF, CFA®

WEALTH MANAGER
713-439-1200
jmishaw@wjohnsonassociates.com
https://www.linkedin.com/in/jasonmishaw/

As a wealth manager at Willis Johnson & Associates, Jason Mishaw is actively involved in both the financial planning role and the investment management role. On the financial planning side, he helps to implement customized financial plans for WJA clients that maximize tax efficiencies through retirement and estate planning.

On the investment management side, under the supervision of a senior wealth manager, he assesses the financial goals of WJA clients by considering income generation and risk tolerance, and assists in creating a customized strategy to further those goals.

Jason first gained experience in the asset management world during his internship at Merrill Lynch, where he gained initial exposure to active portfolio management. He began to see the value that he could provide for clients in establishing proper allocations among asset classes based on their risk tolerance. He also began to see the value of model-based investing that removes the element of emotion from the investing process.

Jason received a Master of Science degree in finance from the University of Houston C.T. Bauer College of Business. He received a BA in economics and a BS in biochemistry and cell biology from Rice University.

Alexis Long, MBA, CFP®

WEALTH MANAGER
713-439-1200
along@wjohnsonassociates.com
https://www.linkedin.com/in/alexishazellong/

Alexis Long is currently a wealth manager with Willis Johnson & Associates, which allows her to meet people from diverse backgrounds with different goals and to assist them in reaching those goals as efficiently as possible.

For Alexis, financial planning combines her interest in producing detail-oriented financial plans with a desire to help people reach their goals, whether it be retiring early, paying for their grandchildren’s educations, buying a second home, or leaving a legacy for their children. Understanding what is truly important to a client is key to good financial planning, along with providing solid technical advice.

Previously, Alexis worked at another wealth management firm which was her first job in the financial planning and advising industry. She was able to learn the basics of financial planning from the ground up and quickly expanded her knowledge as a paraplanner.

After graduating with a BBA from Texas Tech University, Alexis held positions ranging from real estate to bankruptcy law while searching for her true career passion. It was not until her attendance in the MBA program at the University of Saint Thomas that she started learning more about the financial planning and advising industry. Alexis recognized financial planning and advising was the career that best suited her.

Willis Johnson & Associates is not endorsed by nor affiliated with Chevron.
Why Willis Johnson & Associates?
Since 1996 we’ve been helping Chevron executives and professionals with their comprehensive financial planning needs. Our thorough understanding of the transitions in your corporate life allows us to appreciate where you have been and assist with where you are headed.