Chevron Incentive Plan (CIP) award payouts are considered part of your regular pay* in the Chevron Employees Savings Investment Plan (ESIP). This means a portion of your CIP payout will automatically be included in your usual paycheck deduction to the ESIP (up to IRS limits); you do not need to do anything. But, if you’d rather save more or less of your upcoming CIP towards retirement, you can change your ESIP paycheck deduction in advance of your CIP payment.

  • If you change your ESIP paycheck deduction to a lower contribution percentage, less of your regular pay (and your CIP payout) will go into your ESIP account.
  • If you change your ESIP paycheck deduction to a higher contribution percentage, more of your regular pay (and your CIP payout) will go into your ESIP account. 

If you want to make a change, you must take action in advance of your CIP payment. Keep in mind that it can take up to two pay periods for your changes to take effect. If you change your deduction, don't forget to change your percentage back again when you receive your CIP payout.

Remember – to receive the company match (also known as company contributions), you must contribute a minimum of 1 percent of your pay.

  • If you contribute 1 percent , the company match is 4 percent.
  • If you contribute 2 percent or more, the company match is 8 percent.

*Note: If you are a PSG 28 or higher, then only non-deferred CIP is considered regular pay in the ESIP.