Q. Do I need to make the same investment election for every account?
A. No. You can make different investment elections for each account (Before Tax, Roth 401(k), After Tax, and General) or you can make the same investment election for all your accounts. Additional elections are made as follows:
- Catch-up contributions: Your investment election for the Before-Tax Account will apply to the elections for any catch-up contributions you make to the Before-Tax Account. Similarly, your investment election for the Roth 401(k) Account will apply to the elections for any catch-up contributions you make to the Roth 401(k) Account.
- Special contributions and rollover contributions: Elections for these contributions are made at the time you complete the information required to make this type of transaction.
- In-plan Roth conversions: Immediately after conversion into the Roth Conversion Account, the assets are invested in the same manner as they were pre-conversion.
The Savings Plan follows the requirements under Section 404(c) of ERISA. This means that the Savings Plan offers a range of investment options and the opportunity to make your own investment decisions. You are provided information on these investment options (including risk/return characteristics). As a result, Savings Plan fiduciaries generally are not liable for losses resulting from your investment decisions.
Individual account investment elections
When you make individual account investment elections, you are making separate investment decisions for your Before-Tax Account, Roth 401(k) Account, After-Tax Account, and General Account, whichever of these apply. For example, if you make an individual account investment election for your General Account, you are investing all future company match amounts directed to your General Account among the investment options you choose in the percentages you indicate. These percentages may be different than elections made for your Before-Tax, Roth 401 (k), and After-Tax Accounts.
Combined investment election
When you make a combined investment election, you are making the same investment decision for your Before-Tax, Roth 401(k), After-Tax, and General Accounts. Thus, you are investing all your future contributions to your Before-Tax Account, Roth 401(k) Account, and After-Tax Account and your future General Account company match among the same investment options in the percentages you indicate.
In either case – combined investment election or individual account investment elections – you choose the percentage you want to invest in each investment option. You may invest in any one option, or you may divide your contributions and company match (in whole percentages) among the investment options.
Once your election is processed, it will remain in effect until you change it. You may change your election at any time. Any new election supersedes your previous election and generally will become effective at the next scheduled investment purchase.
Any earnings on investments in your Savings Plan Account are credited as follows:
- Any dividends on ExxonMobil stock are used to purchase additional shares of stock unless you elect to receive the dividends directly in cash. Historically, dividends have been paid in March, June, September and December.
- Any earnings, dividends or other income on, or changes in market value of Equity Units, Extended Market Units, International Equity Units, Bond Units and Balanced Fund Units are included in the net asset value and are reflected in the daily price of the respective units.
- Any earnings on Common Assets are reinvested automatically to purchase additional Common Assets. Earnings are posted as of the end of each calendar quarter and are allocated among participants in proportion to each participant's average daily Common Assets balance in his or her Savings Plan Account during the quarter.
The contributions and company match you direct to each investment option are not likely to result in an exact multiple of the current share or unit prices. Partial shares or units of all investment options in the Savings Plan are credited to your account. This helps ensure that any contributions are fully invested in the investment options you direct.