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Leaving Oxy

Leaving Oxy​

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If you leave Oxy for any reason, it’s important to understand how your benefits are affected and what you can expect as you transition out of the company.

What You Need to Do

Notify Your Supervisor/HR
Notify your supervisor and/or HR of your intent to leave Oxy.  

Call OxyLink Employee Service Center: 800-699-6903
OxyLink service representatives can assist you with information about your benefits and COBRA continuation coverage.

How Your Benefits Are Affected
If you leave Oxy, the following changes will be made to benefits for you and your eligible dependents. Note: If you are leaving under the Oxy Notice and Severance Pay Plan, refer to the summary plan description and benefit summary for details about benefit coverage.

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 take this account and any account balances with you when you leave Oxy. For more information, log on to the PayFlex website.

Flexible Spending Accounts

  • 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 only for 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 Aetna Life Insurance within 31 days of the date your coverage under the group policy ends.​ For forms and rates, call OxyLink Employee Service Center, 800-699-6903.  
  • Coverage ends on your last day of employment.
  • You may convert your Basic AD&D insurance to an individual policy with Gerber Life Insurance within 31 days of the date your coverage under the group policy ends. For forms and rates, call OxyLink Employee Service Center, 800-699-6903.
  • No conversion of coverage option is available for OAD&D.

Accidental Death and Dismemberment (AD&D)

  • Coverage ends on your last day of employment.
  • You may convert your AD&D insurance to an individual policy with Gerber Life Insurance within 31 days of the date your coverage under the group policy ends. For forms and rates, call OxyLink Employee Service Center, 800-699-6903.

Group Universal Life

Call 800-756-0124 (current participants and international) to set up direct billing and make changes to your coverage.

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 70-½.
  • 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 oxy.voya.com 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 70-½.
  • 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 oxy.voya.com.

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 oxy.voya.com 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 oxy.voya.com 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.

 

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