Concurrent Wealth Management

The retirement date is usually treated as a lifestyle decision.

For SLB executives with both a Supplementary Benefit Plan distribution and open PSU performance periods, it's also a tax decision.

When the SBP distribution and a PSU settlement land in the same year, combined ordinary income can peak sharply.

Shift the retirement date by a single year, and the same total compensation can fall across two lower-income years instead of one high one.

We work with SLB executives to map both calendars before the retirement date is finalized.

Read more on the Wealth Word™ blog: concurrentfp.com/slb-psu-vesting-supplementary-benefit-plan-coordination

For many SLB executives, the SBP distribution election and the PSU vesting calendar were set at different points in a career and have never been modeled against each other.

Near retirement, they can land in the same tax year, and the combined ordinary income can be higher than either projection showed alone.

The retirement date itself becomes a planning variable. A one-year shift may separate the two events without changing total compensation received.

We work with SLB executives to confirm the election on file, map open PSU performance periods, and model the income stack before the date is set.

Read more on the Wealth Word™ blog: concurrentfp.com/slb-psu-vesting-supplementary-benefit-plan-coordination

Most executives treat a large bonus as one decision: what do I do with this money?

It's actually six decisions, and they have to happen in order.

Skip the order and the bonus gets spent, taxed, and invested reactively — and 18 months later there's nothing to show for it.

We help Houston energy executives set this sequence before the bonus arrives.

Read the full framework on the Wealth Word™ blog: concurrentfp.com/oil-gas-executive-bonus-planning

A $500K to $2M bonus can be the most consequential financial event of an oil and gas executive's career. It's also one of the easiest to waste.

The pattern I see with Houston energy executives is consistent. The bonus arrives, the tax bill surprises, some money gets spent without a decision, some goes into the investment account reactively, and 18 months later nothing lasting has changed.

The fix is a framework built before the money arrives:
→ Cover the true tax liability first, not the 22% withheld
→ Maximize retirement accounts in the highest-leverage year
→ Eliminate high-rate debt
→ Reduce single-stock concentration
→ Name your lifestyle spend in advance
→ Invest what remains

Do you have a plan in place before the bonus lands?

Read more on the Wealth Word™ blog: concurrentfp.com/oil-gas-executive-bonus-planning

Most Halliburton executives treat the retirement date as a lifestyle choice. It's a financial variable.

Because performance units deliver half in cash, the date relative to the performance period close determines not just whether an award vests but when that cash arrives as ordinary income — and whether it stacks against a NOPAT bonus and a largely irrevocable deferred compensation election in the same tax year.

We work with Halliburton executives to model three candidate retirement dates before one is set.

Read more on the Wealth Word™ blog: concurrentfp.com/halliburton-executives-retirement-timing-performance-units

For Halliburton executives, the retirement date is not a lifestyle decision — it's a financial one.

Because performance units pay half in cash, retiring before, at, or after a performance period closes changes not just whether the award vests, but when the ordinary income hits and which tax year absorbs it.

Add in the NOPAT bonus cycle and a largely irrevocable deferred compensation election, and the "right" retirement date becomes a modeling problem, not a calendar pick.

We help Halliburton executives map candidate retirement dates against the full income picture before the date is set.

Read more on the Wealth Word™ blog: concurrentfp.com/halliburton-executives-retirement-timing-performance-units

The survivor choice inside the Phillips 66 Cash Balance Account is not a footnote.

A single-life annuity produces the highest participant payment but stops at death. For a married participant, the generally required form is a 50% joint-and-survivor annuity unless another permitted form is elected, with written spousal consent required in certain circumstances.

We work with Phillips 66 executives to model income after either spouse dies before the payment form is finalized.

Read more on the Wealth Word™ blog: concurrentfp.com/phillips-66-pension-lump-sum-vs-annuity-2

At Phillips 66, lump sum or annuity is not always the first pension question.

The first question is which pension title and benefit components you have. The Cash Balance Account and heritage PRIP, RPC, and BRI benefits do not use the same interest-rate mechanics, and some components may not offer a lump sum.

We work with Phillips 66 executives to identify the governing plan terms before comparing payment options, retirement timing, and the broader income plan.

Read more on the Wealth Word™ blog: concurrentfp.com/phillips-66-pension-lump-sum-vs-annuity-2

A Baker Hughes executive assumes their deferred compensation election is set and forgets about it until retirement gets close.

Under Section 409A, the modification window closes fast, often 12 months before the distribution date. Swipe through for what that window actually allows and why reviewing it early matters.

We work with Baker Hughes executives on exactly this kind of nonqualified deferred compensation planning.

Read more on the Wealth Word™ blog: concurrentfp.com/baker-hughes-executives-lti-psu-retirement

Baker Hughes withholds Performance Share Unit payouts at a flat 22% supplemental rate, regardless of your actual bracket.

For an executive in the 35% bracket, a $300,000 PSU payout gets $66,000 withheld against a real tax bill of $105,000.

That $39,000 gap either gets covered with a quarterly estimated payment or it shows up as an April surprise.

We work with Baker Hughes executives to plan for this gap before the vesting date, not after.

Read more on the Wealth Word™ blog: concurrentfp.com/baker-hughes-executives-lti-psu-retirement