Chevron Phillips Chemical Company's benefit program reflects the company's commitment to provide you with a competitive and comprehensive benefits package ... and that includes offering up-to-date information so that you can use your benefits to your greatest advantage. We're making it a priority to provide that level of communication. That's the idea behind the Benefitium Extranet site — we believe that the better informed you are, the better you'll be able to make benefits decisions that are appropriate for you and your family.
Retirement Plan Lump Sum Interest Rate
Benefit Commencement Date
- January 1, 2012
- February 1, 2012
- March 1, 2012
3.18%
Benefit Commencement Date
- April 1, 2012
- May 1, 2012
- June 1, 2012
2.98%
Your retirement application should be submitted to Fidelity at least 30, but not more than 180, days before your desired Benefit Commencement Date. If you decide to change your desired commencement date, the change request must be submitted no later than the last day of the month before your new date.
Your Benefit Commencement Date will always be the first day of a month. However, your first payment will normally be delayed to allow time for your final payroll earnings to be incorporated into your final retirement calculation.
The lump sum interest rate is adjusted quarterly. The July to September rate is based on the previous March applicable 30-year Treasury rate, and the October to December rate is based on the previous June rate.
The Benefitium Extranet site is intended as a user-friendly source of information about certain Chevron Phillips Chemical benefits, and policies and programs. While we intend to update the Benefitium Extranet site on a regular basis, it is possible that, at any time, information found on the site may not be current, complete or consistent with other information or communications. Also, we're not able to control the content of outside sites linked through this site. Information on this site may be summarized; more complete rules are contained in the governing plan/program documents. If there are any differences between any information contained on this site and the applicable plan/program document, the relevant provisions of the applicable plan/program document will govern. Further, nothing contained on this site shall imply or create a contractual obligation between you and Chevron Phillips Chemical.
Chevron Phillips Chemical reserves the right to make changes to information contained on this site at any time and without prior notice.