Retirement Benefits

Photo: Elderly couple enjoying retirementSavings & Investment Plan

  • The Savings and Investment Plan, a 401(K) plan, provides you with a way to actively save for your retirement.
  • Our savings plans allow pre-tax contributions by simple payroll deduction, including "catch-up" contributions for those 50 or older.
  • The company makes competitive matching contributions on certain pre-tax employee contributions, with 100 percent vesting after three years of service, or sooner at some locations.
  • Employees can elect to invest in the core options, hundreds of mutual funds within the mutual fund window, as well as publicly traded stocks within the brokerage window.
  • From time to time, you may want to access the money in your account. Loans and withdrawals are available if you need some extra cash for unexpected or exceptional financial needs.

Retirement/Pension Plan

  • The Retirement Plan is designed to provide you with a pension income benefit when you retire from the company.
  • Competitive pension benefits are provided to all employees after 12 months of service.
  • Generally, the benefit is based upon final average base pay and length of service, with 100 percent vesting after five years of service.
 
This information is intended as an overview only and does not provide complete details on any of the described benefits or programs. More comprehensive information is available in the Summary Plan Descriptions and plan documents. In the case of differences or errors, the plan documents will control. Lyondell intends to continue the benefit plans and programs described above, but reserves the right to amend, change the level of the participant and company contributions, or terminate any plan at any time. This is not intended as a guarantee of continued or future employment or benefits with the company. Not all plans and programs are available to all employees and certain restrictions may apply.  Lyondell is an equal opportunity employer.

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