Every few years the IRS reviews tax-advantaged (“qualified”) retirement and savings plans such as the PRA and PSA for amendments that are necessary due to legislation. Under IRS Revenue Procedure 2012-6, Oxy is required to post the attached “Notices to Interested Parties” informing them that Oxy will be filing a Determination Application with the IRS for the retirement and savings plans it sponsors, such as PRA and PSA. Click the links below for the respective Notices.
The Personal Savings Account (PSA) and Personal Retirement Account (PRA) fund description documents have been updated and are now posted on OxyLink. Each plan’s document includes general information about the plan, a summary of the investment options available under the plan, fund performance and benchmark information and an outline of the estimated fees and expenses. The documents also contain links to external websites that provide additional information on each fund’s strategy, objectives, risks and turnover. Finally, a Glossary of Investment Terms relevant to investment options under these plans is now available. Click on the link below to see the new documents.
Effective February 29, 2012, the PSA’s Large Cap Growth Fund I, currently invested in the Fidelity Magellan Fund, will be invested in the Fidelity Contrafund (Ticker Symbol: FCNTX), a mutual fund also managed by Fidelity Management & Research Company of Boston, Massachusetts. For more information, click below.
Changes highlighted in this issue of Benefits News include:
- New PSA Fund offered
- New MetLife Auto & Home Insurance Group Discounts
To view the newsletter online now, click on the attachment below.
Click below to view the September issue of Benefits News which contains important information about changes to the PRA Funds.
You can view your vacation accruals and balances since Jan 1, 2004 under Employee Self Service > Vacation Accruals & Balances. For detailed instructions, click the "Vacation Information"attachment below
Changes highlighted in this issue of Benefits News include:
- PSA loan interest rate change to Prime Rate
- New default investment funds under both the PRA & PSA
- Asset mix changes in the PRA Balanced Strategy funds
- Large Cap fund name changes
To view the newsletter or fund descriptions online now, click on the attachments below.
If you expect that your 2008 earned income and adjusted gross income (AGI) will each be less than $33,995 ($36,995 if you expect to file a joint return for 2008) you may qualify. Please click on the attachment below for additional information.
The December 2008 issue of Benefits News is now available. Highlights are:
• Health Advocate
• PRA In-Service Withdrawals
• 2009 PSA Contribution Limits
• 2009 Catch-up Contributions
• 2007 Summary Annual Reports (SARs)
You will soon receive the December Benefits News and SARs by mail. To view them online, click the links shown below:
Click on "Attachments" below for additional information
Starting March 31, employees may invest in Oxy Stock, but contributions will be limited to 55%. Participants may also transfer existing employee and/or company match balances into Oxy Stock, however such transfers will be limited to 55% of the amounts being transferred. For more details, click on the "March 2007 Benefits News" link below
The attached email is not coming from your Oxy Payroll Department. Please do not open the email or click on any of the links.
Oxy Payroll Department
2013 OPEN ENROLLMENT IN PROGRESS
NOW THROUGH NOVEMBER 26.
Select the “2013 Open Enrollment Online Resources.htm” attachment below for information about the 2013 Open Enrollment event now taking place for employees. In addition to a few “getting started” tips, you will find online access to a variety of resources, including the 2013 Open Enrollment Guide and the November issue of Benefits News, both of which have also been mailed to your home address.
Some prior review of these tools and resources before logging into the system will help speed your online enrollment. For example, the Plan Cost Estimator tool can help you decide which medical plan option might be best for you and your family. It can also help you estimate contributions to a tax-advantaged Health Savings Account (HSA) or Flexible Spending Account (FSA) for payment of eligible health care (or dependent care) expenses with pretax dollars.
Online open enrollment is not available to retirees or most union-represented employees.
Your 2013 Open Enrollment benefits elections must be submitted by Monday, November 26, 2012.
Click on the attached for a federally required notice regarding investments in the PSA's Oxy Stock Fund.
Early Cut-Off Times for Personal Savings Account (PSA) and Personal Retirement Account (PRA) transactions. Click below for the schedule.
Because the stock markets will be closed on Good Friday, April 6, 2007, no transactions will be valued on this date. PSA future investment changes and PSA and PRA fund transfers you request through OxyLink after 1:00 p.m. on Thursday April 5, 2007 through 1:00 p.m on Monday, April 9, 2007 will be valued at close of business on April 9, 2007. All times are Central Time.
During this time, you may continue to view your most recent balances, request forms. etc., through the OxyLink website at oxylink.oxy.com. Representatives at the OxyLink Employee Service Center will also be available during normal business hours on April 6th at Tel. 800-699-6903 or by email at firstname.lastname@example.org
If you are a regular Oxy employee who formerly worked at an Oxy location as a temporary or leased worker provided by a staff leasing firm such as Kelly Services®, Apple One®, etc., or as an independent contractor or consultant, you may be eligible for additional service credit under certain of Oxy’s benefit plans and programs. Please click the attachments below containing Oxy’s policy and Employee Questionnaire form
To provide more information about Oxy''s recently announced 2-for-1 Stock Split, Click the attachement to access important information that applies to all stockholders, employees who are holders of outstanding awards and participants in the Personal Savings Account (PSA) with balances under the plan's Oxy Stock Fund.
Click on the attachment below for more information.
As previously announced, Vanguard, the investment manager for the PSA’s REIT Fund, has announced changes to their frequent-trading and redemption-fee policies that will apply to PSA participants with balances in the REIT Fund after March 30, 2006. Vanguard is implementing these changes to strengthen its existing safeguards that are designed to protect investors from the effects of short-term trading and market timing, which can drive up fund costs. Below is a summary of the changes that will take effect on March 31, 2006:
• Frequent-Trading Policy: participants who transfer balances out of the REIT Fund on or after March 31, 2006 will not be permitted to transfer any balances back into the REIT Fund for 60 days.
• Redemption-Fee Policy:
> On or after March 31, 2006, if any portion of the balance a participant elects to transfer out of the REIT Fund includes monies that were previously transferred into the fund after March 30, 2006 and those monies remained invested in the fund for less than a 12-month period that begins on or after March 31, 2006, a 1% redemption fee will be charged to the participant on the portion of the amount transferred out of the REIT fund that was invested in the fund for less than a 12-month period.
> Redemption fees will not apply to periodic employee contributions, rollover contributions and loan repayments that a participant may invest in the REIT Fund unless those monies are included in fund transfer activity that occurs after March 31, 2006.
The new 1% redemption fee is separate from, and in addition to, the PSA’s normal $10 fund transfer fee that applies to each employee account fund transfer and each ESOP diversification fund transfer above 12 that a participant may elect in a calendar year.
If you do not want to be subject to the REIT Fund’s new frequent-trading and redemption-fee policies, you may elect to transfer your balances out of the REIT Fund and/or change your future PSA fund investment election prior to March 31, 2006. To submit changes, log on to the OxyLink website at oxylink.oxy.com and select Employee Self-Service > Access PSA/PRA Information > Investment Changes.
Did you know you can have a new password sent to you by email in case you forget your password in the future? To set up this convenient feature, follow the steps described below after you change your password. Click on the attachement for more information,
If you move or change your Oxy job or work location, it is important that you keep your personal system information up to date. You may update the following personal data items at any time through the OxyLink web site at oxylink.oxy.com > Employee Self-Service > Personal Information:
> Home Address
> Work phone number (also used by Outlook and Oxy’s Intranet)
> Home and Cell phone numbers
> Business e-mail address (if blank, please add, but existing business e-mail may not be changed or deleted)
> Emergency Contact Information
If you need assistance, please contact the OxyLink Employee Service Center at email@example.com
See .pdf attachment below