FINANCIAL PLANNING WEBINAR | THURSDAY, NOV. 6 AT 12PM CT

5 Benefit Elections That Can Impact Your Taxes After Leaving BP

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As a BP employee, do you know the retirement date you choose can significantly affect your retirement funds and tax bill? After a long career at BP, picking a retirement date that best utilizes your benefits can be complicated.

Let's face it: if you’re not thinking about your employee benefits, taxes, and income distribution when selecting your retirement date from BP, you’re potentially leaving money on the table.

In this webinar, John Siegel, CFP®, EA, Sr. Wealth Manager, and WJA's BP benefits specialist, dives into the common mistakes BP executives make when taking their benefits and how to avoid them. He also discusses how selecting the wrong retirement date could cost you thousands in taxes by pushing you into the highest tax brackets and answers the following questions:

  • How can your BP restricted stock units, performance bonus, vacation or severance payouts, and RAP pension impact your taxes?
  • How do the Excess Compensation Savings Plan and other non-qualified plans affect your retirement benefits, and what factors determine which elections you should choose for each?
  • What’s the single most significant factor in determining your retirement date?

If you are looking to retire from BP in the near future, you will not want to miss this webinar. Register now by filling out the form. 

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Willis Johnson & Associates is a registered investment advisor. Information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial advisor and/or tax professional before implementing any strategy discussed herein. Corporate benefits may change at any point in time. Be sure to consult with human resources and review Summary Plan Description(s) before implementing any strategy discussed herein. Willis Johnson & Associates is not a CPA firm.