Plan |
Benefit Changes |
Medical, Dental and Vision Plans
|
- Coverage ends on the last day of the month in which your employment ends.
- You and your eligible dependents may continue coverage through COBRA for up to 18 months after active coverage ends. A COBRA election packet will be mailed to your address of record within 31 days from your termination date.
|
Health Savings Account
|
You own your HSA. You will continue to have access to your account through PayFlex. For more information, log on to the
PayFlex website.
|
Supplemental Health Care
-
Accident Insurance
-
Critical Illness Insurance
-
Hospital Indemnity Insurance
|
Your coverage is portable. To continue your coverage, call MetLife at
800-438-6388 to set up direct billing.
|
Flexible Spending Accounts
-
Health Care FSA
-
Dependent Care FSA
|
- Participation ends on your last day of employment.
-
For Health Care FSA only: You may continue participation through COBRA through end of the year. If you don't elect COBRA continuation coverage, you will be reimbursed for eligible health care services and prescriptions obtained from January 1 of the current plan year through your termination date, up to the contribution amount you elected for the plan year.
- You have until March 31 of the year following your termination to submit claims for reimbursement to
PayFlex.
|
Basic Life
|
- Coverage ends on your last day of employment.
- You may convert your life insurance to an individual policy with MetLife Life Insurance within 31 days of the date your Oxy group policy coverage ends. For forms and rates, call OxyLink Employee Service Center,
800-699-6903.
|
Accidental Death & Dismemberment (AD&D)
-
Basic AD&D
-
Voluntary AD&D
-
Occupational AD&D (OAD&D)
|
- Coverage ends on your last day of employment.
- You may convert your Basic AD&D and Voluntary AD&D insurance to an individual policy with Zurich Insurance within 31 days of the date your coverage under the group policy ends. Review
Zurich AD&D Conversion Process.
- No conversion of coverage option is available for OAD&D.
|
Group Universal Life
|
- Group coverage ends the last day of the month in which your employment ends.
- You may continue individual GUL coverage if you complete portable enrollment. Call MetLife at
800-756-0124 (current participants and international) to set up direct billing and make changes to your coverage.
|
Lyra Health EAP
|
- Coverage ends on the last day of the month in which your employment ends.
- You and your eligible dependents may continue coverage through COBRA for up to 18 months after active coverage ends. A COBRA election packet will be mailed to your address of record within 31 days from your termination date.
|
Group Legal Insurance
|
- Group coverage ends on the last day of the month in which your employment ends.
- You may continue individual coverage if you complete portable enrollment within 30 days of your last day of employment.
|
Identity Protection
|
- Group coverage ends the last day of the month.
- You may continue individual identity protection coverage if you complete portable enrollment, as long as you still reside in the U.S. Call
800-789-2720 for pricing.
|
Short-Term Disability (STD)
|
Coverage ends on your last day of employment.
|
Long-Term Disability (LTD)
|
Coverage ends on your last day of employment.
|
401(k) Savings Plan
|
- Participation ends on your last day of employment.
-
Distributions: You may request a distribution of your account balance. Generally, account balances of less than $5,000 will automatically be distributed, unless you have an outstanding loan. Based on federal tax law, required minimum distributions begin at age 72.
-
Loans: You can continue to repay your loan, unless the loan period has exceeded the maximum loan term.
- To request a distribution or get information about your loan, call the Oxy Retirement Service Center at
844-OXY-401K.
- Review the
Leaving Oxy Guide and the 401(k) Plan Highlights on
Voya for information about loan repayment and distribution options.
|
Retirement Plan
|
- Participation ends on your last day of employment.
- You may request a distribution of your vested Retirement Plan account balance. Account balances of less than $5,000 will automatically be distributed. Based on federal tax law, required minimum distributions begin at age 72.
- To request a distribution, call the Oxy Retirement Service Center at
844-OXY-401K.
- For more information on distribution options, review the
Leaving Oxy Guide and the Retirement Plan Highlights on
Voya.
|
Supplemental Retirement Plan (SRP)
|
- Your account balance will be distributed according to your election on file, if any, or paid as a lump sum. Distribution will be made in the first quarter of the year after your separation from service.
- Log on to
Voya to review your account balance and learn about your distribution options.
Other plan rules may impact the timing of your distribution. Call the Oxy Retirement Service Center at
844-OXY-401K for more information.
|
Other Retirement Plans
|
You may be eligible for other retirement plans:
Non-Qualified Deferred Compensation Plan
- Your account balance will be distributed according to your election on file, if any, or paid as lump sum in the first quarter of the year after your separation from service.
- Log on to
Voya to review your account balance and learn about your distribution options.
- Other plan rules may impact the timing of your distribution. Call the Oxy Retirement Service Center at
844-OXY-401K for more information.
Pension Plan
- If you have a vested defined benefit pension plan benefit, call OxyLink Employee Service Center at
800-699-6903 to discuss your distribution options.
|