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.
Savings and Retirement Plans
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.
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
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 AccessAs 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.