ConocoPhillips provides competitive benefits to help you plan for retirement.

Cash Balance Account
  • You do not need to enroll in the plan; you are automatically enrolled if you are eligible. The plan is a “cash balance account” retirement plan, paid for entirely by ConocoPhillips, that allows your retirement benefit to grow steadily over your career with the company.
  • Your retirement benefit is based on the value of your account. Your account value grows with pay credits and interest credits that you earn while working for the company.
  • The pay credit percentage is based on your age points plus service points, in whole years, for each year you participate in the plan. The percentage is determined as follows:
    • 6% (Under 44 points)
    • 7% (44-65 points)
    • 9% (66 or more points)
  • Age points are determined by subtracting your year of birth from the current year, and service points are determined by subtracting the calendar you’re in which your recognized service date occurs from the current year.
  • Your benefit depends on the form of payment you elect. You can model your retirement benefit on Your Benefits Resources (YBR) through HR Express if you are an active employee.
  • You generally become vested in your retirement benefits after three years with at least 1,000 hours of service each year.