BP Pension Funding Status (2019)

BP EMPLOYEES,  The annual funding report for your BP RAP was released recently and I felt it would be a good idea to spend some time to explain how it works. The question of the pension being restricted comes up quite a bit and I believe it is very important that you understand what it

RAP/Pension InterestRate Chart July 2019

BP EMPLOYEES,  Please be aware that we are watching the current situation with interest rates very carefully and will be notifying you if there was a meaningful reversal of the current trend. June’s interest rates (for those of you retiring before October 1st, 2019) dropped significantly and were inline with our expectations. As stated in

RAP/Pension InterestRate Chart June 2019

BP EMPLOYEES,  May’s interest rates (for those of you retiring before September 1 st , 2019) dropped noticeably and are currently at some of the lowest levels in several years. It appears rates will continue to drop significantly lower next month as well. This is especially good news for Heritage employees who are looking to

RAP/Pension InterestRate Chart May 2019

ATTENTION BP EMPLOYEES,  April’s interest rates (for those retiring before August 1st, 2019) have continued their decline over the past several months. This is mostly due to concerns that an economic slowdown may be coming for several major foreign countries and concerns about how that could impact the currently strong US economy.  This past month

RAP/Pension InterestRate Chart April 2019

ATTENTION BP EMPLOYEES,  March’s interest rates (for those retiring before July 1st, 2019) have dropped significantly but this is in line with our expectations.  The drop was largely due to the Federal Reserve indicating another shift in its outlook and hinting it may consider lowering interest rates sometime later this year or in early 2020.