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​​Thinking About Retiring?

CRC Retiree Benefits Checklist

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

First Steps

  • Notify the People Resource Center (PRC) of your plans 60-90 days prior to retirement. They will work with your management to confirm your exact termination date.
  • CRC Benefits 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 CRC benefits 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 CRC 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 CRC 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
    • CRC offers a variety of distribution options from the CRC 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 401K Saving Plan or Retirement account, you may request a distribution at any time from Oxy's Savings 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. PST
  • If you are a participant in the Tidelands or THUMS pension plans, you may access your account by logging in to ypr.aon.com/crc​ or contact the CRC Pension Service Center at (888) 909-4156 to request an estimate of your pension benefit or initiate your retirement.


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 CRC service (including at least 5 years of post-acquisition service if your service includes credit for service with a company or facility acquired by CRC). 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 then may request to enroll within 31 days of loss of other coverage. 

The CRC Retiree Medical Plan currently offers two options, Aetna POS and Kaiser HMO.

  • The Aetna O​ption generally provides the same overall level of benefits as the CRC Core 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 CRC’s Retiree Medical Plan will become secondary. You must timely enroll for Medicare Part A and Part B. You do not need to enroll in a Medicare Part D (prescription drug) plan. 
  • Kaiser HMO Option - generally provides that same overall level of benefits as the Kaiser option for active employees. Once you and/or your spouse becomes eligible for Medicare you will be transitioned into the Kaiser Senior Advantage Plan, a Medicare HMO. You must timely enroll for Medicare Part A and B. You do not need to enroll in a Medicare Part D (prescription drug) plan. Select here for a summary of the under age 65 plan option and here for a summary of the Senior Advantage plan, for those over age 65 and Medicare-eligible.

Your cost of coverage will be billed on a monthly basis by PayFlex (CRC's retiree medical billing administrator) and is a multiple of the Retiree Base Rate based on your age and service at retirement and your elected level of coverage, as shown below. Current year Retiree Base Rates are available at MyInfo.crc.com under Health, Life, and Disability.
 

Retiree Medical Plan Contribution ​ ​
If your combined age and service on your termination date isYour monthly contribution will be the following multiple of the retiree base rate
Non-Medicare-Eligible Contribution MultipleMedicare-Eligible Contribution Multiple
65 to 694 times2 times
70 to 743 times2 times
75 to 792 times2 times
80 and above1 times1 times

 

  • The retiree medical coverage enrollment form with your combined age and years of service and monthly contribution amount is included in the retirement packet sent by CRC Benefits.
  • Enroll in Medicare Part B as soon as you (and/or your covered dependents) are eligible (typically age 65) or you (and/or your dependents) 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 Health, Life, and Disability. 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 coverage.

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

 

Other CRC 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 51849. To convert AD&D Plan coverage, contact AC Newman directly at 877-226-8711, Policy # PAI-124075.
  • 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

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 in to MyInfo.crc.com with your Employee ID and password and select Employee Self Service > Personal Information.  

 

January 2020


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The information provided in this document is based on CRC benefit plans in effect as of the publication date. 

The company expects and intends to continue its benefit plans but does not guarantee any specific level of benefits or the continuation of any benefits during any periods of active employment, inactive employment, disability or retirement.  Benefits are provided solely at the company's discretion and do not create any contract of employment.

The company reserves the right to modify, suspend or terminate any of its plans at any time.  This information is applicable to eligible nonrepresented employees.  Applicability to represented employees is governed by local collective bargaining agreements.  Subject to this and future agreements, the company reserves the right to change, amend or terminate any benefit plan at any time.