Q. How can I change the way my Savings Plan Account is invested?
A. You can change the way your existing Savings Plan Account is invested by selling shares or units of one investment option and simultaneously purchasing shares or units of another.
A step-by-step approach
- Determine how your account is currently invested.
- Determine how you would like your account to be invested. If changes are needed, determine how you would like to change the investments.
- Calculate the dollar amount or the number of shares or units of each investment option that you want to sell and purchase.
- Determine which of your accounts will be affected (Before-Tax Account, Roth 401(k) Account, After-Tax Account, General Account, Roth Rollover Account and/or Roth Conversion Account.
For each investment transaction, there must be both a sale and a purchase.
In selling investment options, you must specify a separate transaction each time it involves a different option. When selecting what to purchase, you may select one or more investments in the same transaction. You do this by specifying in the transaction what percentage of the proceeds from the sale to invest in each.
Assume that you have 1,000 shares of ExxonMobil stock in your Before-Tax Account. You want to sell 500 shares of the stock and put 25% of the proceeds into each of four funds. You would submit a transaction to sell 500 shares of ExxonMobil stock in your Before-Tax Account and apply the proceeds of that sale as follows:
- 25% to purchase Equity Units
- 25% to purchase Extended Market Units
- 25% to purchase International Equity Units
- 25% to purchase Bond Units
If you want to change the way your current Savings Plan Account is invested across all investment options, you can choose the reallocation feature. With the reallocation feature, you elect the percentage that you would like invested in each of the 7 investment options, with the total of the percentages equal to 100%. Note that reallocations have an impact on every investment option in which you are invested at the time of the transaction.
The automatic rebalance feature allows you to have your Savings Plan Account automatically rebalanced on the last day of each quarter, according to your investment elections on file at the time of the transaction.
Important purchase/sale provision on account balances
The Savings Plan provides the flexibility for periodic adjustments to existing account balances through sales of one investment and the subsequent purchase of other investments. You may purchase and/or sell a particular investment option twice during each calendar month. For example, if you sell ExxonMobil stock on any day during a calendar month, you may only either purchase or sell ExxonMobil stock one more time during the rest of that month. Note that you may not initiate a second sale/purchase of a particular investment option if a transaction of the same investment option is still pending. Reallocation and rebalance transactions count toward the limit of 2 transactions in each investment option per month. In applying this provision, all purchases or sales of a particular investment option made on one day are considered part of the same transaction.
Typically, purchase and sale transactions received before 6:00 a.m. Central time on a particular business day are posted to your account that evening.
Transaction requests received at 6:00 a.m. Central time or later on a particular business day will be posted to your account the following business day. The price received will be the price on the day of posting. This means that transactions received at 6:00 a.m. Central time or later on the last business day of a calendar month are credited to your account on the first business day of the next calendar month and will be considered a purchase or sale for that next month.
Transactions are executed only if the NYSE is open. However, pricing cannot be guaranteed in the event of unforeseeable circumstances beyond the reasonable control of the Trustee and/or its agents.