Thinking About Retiring? 

Elk Hills Retiree Benefits Checklist

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This guide provides a checklist for your reference in planning your retirement. Contact the People Resource Center (AskPRC@CRC.com) or email the Benefits department (CRCBenefits@CRC.com) with any specific questions.

First Steps

• Notify the People Resource Center of your plans 60-90 days prior to retirement. They will work with your management to confirm your exact termination date. 
• The Benefits department will send a retirement packet to your address of record once your termination date is entered into the system. Your retirement packet will contain information about the Benefits department upon retirement as summarized below.

Savings and Retirement Plans

• It is recommended you consult with qualified financial and tax advisors as you plan your retirement in order to help you make the best decisions.

• Review your Savings Plan account balances on the Fidelity website www.401k.com
• For a personalized review of your portfolio, contact a Fidelity Guidance Representative at (866) 602-0635

• Following your termination date, you will be eligible to request a withdrawal of your vested account balance from the Savings Plan. 
• To request a withdrawal, log on to www.401k.com
• Select Quick Links/Loans or Withdrawals/Request a Loan or Withdrawal
• Select Make a Withdrawal
• For further assistance, call the Fidelity Retirement Benefits Line at (800) 835-5097

• EHP offers a variety of distribution options from the Savings Plan.
• Full withdrawal (payable to you or can be rolled over to an IRA or to another employer's qualified plan)
• Partial withdrawal (payable to you or can be rolled over to an IRA or to another employer's qualified plan)
• Total deferral
• Defer distribution until age 70 1/2
• Change to another option at any time
• If you have an Oxy 401(k) Savings or Retirement account, you may request a distribution at any time from Oxy's Saving and Retirement Plan site at oxy.voya.com.
• For additional assistance, call the Oxylink Employee Service Center at (800) 699-6903, Monday through Friday (except on holidays) from 6:30 a.m. to 3 p.m. PS

Medical Benefits

Generally, you are eligible for retiree medical benefits the first of the month following your termination date, provided you are age 55 or older and have 10 or more years of service (including service with California Resources Corporation). Other eligibility requirements may apply if you terminate under the Notice and Severance Pay Plan or other separation agreement. 

You may waive coverage, but if you do, you may not reenroll for coverage unless you have other coverage and lose eligibility for that coverage. You may then request to enroll within 31 days of loss of other coverage.

The EHP Retiree Medical Plan generally provides the same overall level of benefits as the EHP Medical Plan. Once you and/or your spouse become eligible for Medicare, your Medicare coverage will become primary (meaning Medicare pays first) and your coverage under EHP's Retiree Medical Plan will become secondary. You must timely enroll for Medicare Part A and B. You do not need to enroll in a Medicare Part D (prescription drug) plan.

Your cost of coverage will be billed on a monthly basis by PayFlex (EHP's retiree medical billing administrator) and is a multiple of the Retiree Base Rate based on your age and years of service at retirement and your elected level of coverage, as shown below. Current year Retiree Base Rates are available at MyInfo.crc.com under Elk Hills Power Employee Benefits > EHP Rates and Limits.

• Your combined age and years of service, monthly contribution amount and enrollment form are included in the retirement packet sent by the Benefits department.
• Enroll in Medicare Part B as soon as you (and/or your spouse) are eligible (typically age 65) or you (and/or your spouse) could face a lifetime Medicare penalty!

Dental Benefits

Generally, you are eligible for retiree dental benefits provided you are eligible for retiree medical coverage. If you are enrolled for dental coverage as an active employee you will also be eligible for COBRA dental continuation coverage for up to 18 months. Retirees pay the full cost of retiree dental coverage. COBRA dental rates may be more favorable than rates for retiree dental coverage. COBRA and Retiree Dental plan rates are available at MyInfo.crc.com under Elk Hills Power Employee Benefits > EHP Rates and Limits. Your cost of coverage will be billed on a monthly basis by PayFlex.

You may waive retiree dental coverage, but if you do, you may not enroll for coverage unless you have other dental coverage and lose eligibility for that coverage. You may also enroll for the Retiree Dental Plan at the end of your COBRA dental continuation coverage. You must enroll within 31 days of loss of other coverage.

More information regarding your dental coverage options and the enrollment forms will be provided in your retirement packet. 

Other EHP Benefits

• Coverage under the Vision (Basic and Plus Plans), Basic Life, Occupational Accidental Death and Dismemberment, Accidental Death and Dismemberment, Short-Term Disability and Long-Term Disability Plans and Group Legal Services ceases at termination.

• Coverage under the Basic Life and Accidental Death and Dismemberment (AD&D) Plans may be converted to an individual policy. To convert Basic Life Plan coverage, contact Prudential directly at 800-777-3827, using Policy Code 53131. To convert AD&D Plan coverage, contact AC Newman directly at 877-226-8711, Policy # PAI-124505.

• Coverage under the Group Universal Life (GUL) Insurance plan is portable and can continue provided you make any required contributions. Contact Prudential at 800-562-9874 to arrange for direct billing.   

• Flexible Spending Account (FSA) coverage ends on your termination date; however, Health Care FSA contributions may be continued through COBRA up to the end of the calendar year by making monthly after-tax contributions. A COBRA enrollment form will be sent to you by PayFlex.

• You may convert the MetLaw Group Legal Services coverage to an individual policy for 30 months. Contact Hyatt Legal Plans at 800-821-6400 within 31 days of your termination date.

• If you participate in the Supplemental Retirement Plan II (SRP II), your balance in this nonqualified plan will be distributed in accordance with your election on file, if any, or will be made in a single-lump sum the first quarter of the year following your termination date. It cannot be rolled over to an IRA.

Social Security and Medicare

If you are Medicare-eligible, contact the Social Security Administration for information about your Social Security and Medicare benefits approximately 90 days before your retirement. Detailed information is available on their website www.ssa.gov.

MyInfo Access
As a retiree, you will continue to have access to MyInfo. Your Employee ID remains the same as when you were an active employee. Please keep your contact information updated (address, phone and email). Log on to MyInfo.crc.com with your Employee ID and password and select Employee Self Service > Personal Information.