BP Cherry Point Retirement Planning Guide

What to know about your BP 401k.

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Get your guide to BP retirement success. 

BP Retirement Expert James Twining, CFP®, has devoted his 35-year professional career to advising BP employees.

Your Guide to BP Retirement Success

What to know about your BP 401K

You aren’t REALLY maximizing your 401K contributions. Roth contributions save more for retirement than after-tax contributions. Company stock that is held in the 401K can be taxed at a lower rate. You are most likely better off using your vacation time before you retire. It may be a mistake to retire before age 55

Your BP R.A.P., learn why:

You should not rely upon the balance view. If you were hired before 2016, the employer contributions are very high. Lump sum benefits are almost always superior to monthly annuity payments. It pays to game the interest-rate system.

Other interesting aspects of BP benefits

Even if you retire before your share value plan is vested, you can still receive the shares (if you work it properly). The medical benefits for those hired after April 1, 2004 are actually superior to the old subsidized medical insurance premiums. Most high-income earners are not allowed to put as high a percentage of wages into a 401k as others. The excess benefit plan solves this.

Get the full guide

James B. (Jamie) Twining, CFP®, the “BP Retirement Expert” has devoted his 35-year professional career to advising BP employees. His unparalleled depth of knowledge of BP savings and benefit programs makes him an outstanding resource for BP employees who want to maximize their success.

Email james.twining@financialplaninc.com
for the full guide, or fill out the form.

About James Twining, CFP®

James (Jamie) Twining, CFP® has over 35 years of experience working with BP Cherry Point employees. The excellent care and results that he has provided have led to client referrals, and ultimately the largest client base of Cherry Point employees of any financial advisor in our local market.

It is vital that your advisor thoroughly understand the BP 401k and RAP plan. For BP executives, it is important that your advisor be familiar with the BP share option, excess benefits, deferred compensation, and restricted share units plan.

Your financial future is too important to leave to the tender mercies of a security salesman or Net Benefits employee. Talk to your co-workers and ask them why they entrust Jamie with their financial future.