YOUR 2020 PHILLIPS 66 TOTAL REWARDS
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Sweeny Fractionator One YOUR 2020 PHILLIPS 66 TOTAL REWARDS
OUR PHILOSOPHY When you join the Phillips 66 team, you will become part of a company with a proud and successful heritage and a diversified portfolio that is poised for growth. You will also become part of a company that’s committed to being a great place to work. That’s why we’ve designed a competitive Total Rewards program to meet the needs of our dynamic and diverse workforce. At Phillips 66, your Total Rewards are comprised of your pay, benefits and other programs. We have designed your Total Rewards to inspire exceptional company results on a sustainable basis and to create a culture of engagement, responsibility and well-being. These principles guide us as we evaluate our current and potential offerings. Our Total Rewards: • Enable a high-performing organization to successfully execute our Company strategy • Provide attractive and competitive programs that differentiate Phillips 66 in the marketplace, supports inclusion and diversity, and meets the needs of an evolving workforce • Integrate “Pay for Performance” philosophy into programs where appropriate • Continuously optimize resources to deliver value to employees and the Company We are focused on improving upon our high-performing organization. To achieve this, we attract and retain talented employees, like you, by providing Total Rewards that enrich you, personally and professionally. Please take a few moments to review this summary of our Phillips 66 Total Rewards so you can better understand your Total Rewards and make informed decisions about the right benefit coverage for you an your family.
TABLE OF CONTENTS
TOTAL REWARDS..................................................................................................................................................2
COMPENSATION...................................................................................................................................................3
Base Salary.........................................................................................................................................................3
Variable Cash Incentive Program (VCIP)............................................................................................................3
Restricted Stock Unit Award Program...............................................................................................................4
Special Recognition Awards...............................................................................................................................4
HEALTH AND WELL-BEING...................................................................................................................................5
Benefits Enrollment............................................................................................................................................5
Medical................................................................................................................................................................6
Prescription Drug Benefits.................................................................................................................................8
Behavioral Health Services................................................................................................................................8
Health Maintenance Organization (HMO)..........................................................................................................9
Dental................................................................................................................................................................10
Vision.................................................................................................................................................................11
Flexible Spending Accounts (FSAs)..................................................................................................................11
Health Savings Account (HSA)........................................................................................................................ 12
Well-Being Program......................................................................................................................................... 12
PREPARING FOR THE UNEXPECTED................................................................................................................14
Life and Accident Insurance.............................................................................................................................14
Disability............................................................................................................................................................16
PENSION AND SAVINGS.....................................................................................................................................18
EMPLOYEE PROGRAMS AND POLICIES...........................................................................................................20
Policies...............................................................................................................................................................21
RESOURCES........................................................................................................................................................22
Visit hr.phillips66.com to learn more.
Visit hr.phillips66.com to view the summary plan descriptions (SPDs) for the Phillips 66 Health and
Well-Being, Retirement and Savings plans. The purpose of the SPDs is to describe the Phillips 66 plans’
eligibility provisions, as well as the benefits, rights and obligations under the Phillips 66 plans.
SPDs are available online at hr.phillips66.com (Resources > Summary Plan Descriptions) to view, download
or print. You may request a hard copy, free of charge, by calling the Benefits Center at 800-965-4421.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 1TOTAL REWARDS
This section outlines Phillips 66 Total Rewards and the actions to consider as a new member of our team.
Review this section to determine which benefits are right for you and your family. Some of the benefits
listed below require enrollment within 30 days from your date of hire in order to have benefits in the
calendar year. We encourage you to review this guide prior to enrolling in your benefits to ensure you
understand all of your Total Rewards and are able to maximize the value of these offerings.
Total Rewards Action Required Reason Deadline
• Base Salary Review this guide To better understand your No deadline
Compensation
• Variable Cash Incentive compensation programs
Program
• RSU
• Special Recognition
Award
• Medical Review this guide If you don’t enroll within 30 days of 30 days from date of hire
• Dental and enroll your hire date — you won’t be eligible to enroll*
Health and Well-being
• Vision for benefits in the calendar year*
• Flexible Spending
Accounts
Health Savings Account Review this guide Only eligible to participate if you enroll Auto-enrolled — change
in the HDHP option your contribution at any
time
Health and Well-Being Review this guide To better understand and take Enroll at any time**
Programs advantage of these programs
• Basic Life Insurance Review this guide To better understand these benefit Auto-enrolled
• Occupational Accidental programs
Death
• Short-Term Disability
Preparing for the Unexpected
Basic Long-Term Disability Review this guide To better understand this benefit and Auto-enrolled
ensure you have the right coverage
• Enhanced Long-Term Review this guide If you don’t enroll within 30 days of 30 days from date of hire
Disability and enroll your hire date — restrictions may apply to enroll*
• Employee Supplemental
Life Insurance
Spouse and Child Life Review this guide To ensure you have the right coverage Enroll at any time
Insurance and enroll for you and your family — restrictions
may apply
Accidental Death and Review this guide To ensure you have the right coverage Enroll at any time
Dismemberment and enroll for you and your family
Pension Review this guide To better understand your pension Auto-enrolled
and Policies and Savings
Pension
Savings Review this guide To better understand your savings Auto-enrolled — consider
increasing your
contribution
Programs Review this guide To better understand and take No deadline
Programs
advantage of these programs
Policies Review this guide To better understand the Phillips 66 Consult with your HRBP
policies
* If you don’t enroll within 30 days of your hire date — you won’t be eligible to enroll in these benefits until the next
Annual Benefits Enrollment period unless you have a qualified status change.
** To receive the Well-Being Incentive Program payroll credits you must submit the required documentation by
November 30, 2020.
Visit digital.alight.com/phillips66 to enroll.
2 YO U R P H I L L I P S 66 TOTA L R E WA R D SCOMPENSATION
At Phillips 66, we share a vision VARIABLE CASH INCENTIVE
to provide energy and improve PROGRAM (VCIP)
lives. Everything we do supports
that vision, including our The Variable Cash Incentive Program (VCIP), our
compensation programs. annual bonus program, is a component of your
Phillips 66 Total Rewards. The program is weighted
The compensation programs are an important 50% corporate performance and 50% business
part of your Total Rewards and, when you work unit performance and considers performance
at Phillips 66, you can expect a compensation relative to safety, operating and financial metrics.
package that is not only competitive with the pay In addition, there is a potential modifier for
for similar jobs at other companies in our industry, individual performance. By design, VCIP aligns our
but also reflects your unique contribution to the goals — company, business unit and individual —
company. Our approach to compensation is to pay and promotes behaviors consistent with Phillips
for performance, which means when you and the 66’s strategy and shareholder interests. Payouts
company perform especially well, you will be are based on the results achieved by the company,
rewarded for that effort. the business unit where you are assigned and
Naturally, Phillips 66 wants to attract, motivate, your individual performance. It differentiates by
retain and reward the best employees, so our rewarding strong performance in each of these
programs are designed to be competitive at areas. Regular full-time and part-time active
target, yet allow room for differentiation based employees (salaried and hourly) are eligible.
on company, business unit and individual Limited exclusions may apply.
performance. Our compensation peer group is While most employees of Phillips 66 and its
made up of prominent companies in the chemical, 100%-owned subsidiaries are eligible, employees
midstream and refining sectors. However, we also who are subject to a collective bargaining
participate in salary surveys in regions where we agreement and works council are not eligible for
have operations, and these may include a broader VCIP unless participation in VCIP is included under
base of companies. an applicable agreement. Temporary employees
and contractors are not eligible for VCIP.
BASE SALARY
Generally, the payout is made in February for the
Think of this as your paycheck. The fixed-rate previous year. New hires (in VCIP eligible positions)
amount is determined by your level of responsibility, are granted pro-rated VCIP awards based on the
experience and other factors, as well as your eligible earnings received during the program year.
ongoing performance.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 3Award Calculation Process RESTRICTED STOCK UNIT AWARD
VCIP is calculated based on your eligible earnings PROGRAM
and is adjusted based on corporate, business unit Exempt employees in salary grades 13 through 17
and your individual performance. Below is an have partial eligibility in the Restricted Stock
example of the VCIP calculation. Unit (RSU) award program based on individual
performance. The RSU award program provides
a stake in the company and is designed to align
Eligible Earnings $80,000 the actions and behaviors of our employees
x Target % 7.5% with shareholders — creating long-term value. In
= Target award $6,000 addition, our RSU award program promotes prudent
x Payout % of target 110% risk-taking and a long-term perspective. RSU award
program eligibility and targets are based on salary
= Award payout $6,600
grade and experience level.
Add applicable individual adjustment
amount* • Annual RSU Awards are a commitment to deliver
+ 25% of target award $1,500 shares of unrestricted stock after a three-year
vesting period. Annual RSU Awards granted in
Final VCIP Payout $8,100
2020 will become fully vested on the third
anniversary of the grant date.
* Individual performance adjustments are assessed by
local management. • Employees on the U.S. or U.K. payroll residing
Note: VCIP target percentages vary from country to in the U.S. or U.K. on the grant date receive
country based on market data from surveys for each dividend equivalents during the three-year
country.
vesting period, which are equal to the ordinary
Eligible Earnings — Eligible Earnings include base cash dividend paid on Phillips 66 stock. All other
salary and other base salary-related payments paid employees receive additional units at grant
during the year. Base salary-related payments may in lieu of dividend equivalents. For details on
vary from country to country according to local pay eligibility and for further information about the
practices and local law. program contact your HR Business Partner.
VCIP Target % — VCIP Target percentages vary
SPECIAL RECOGNITION AWARDS
by salary grade and country based on market
data. Your target percentage can be viewed on Special Recognition Awards are designed to
My HR Tools or obtained from your HR Business acknowledge individual or team achievements
Partner. and contributions that bring value to the company.
Recognition signifies true appreciation for a job
VCIP Payout % — Corporate and Business Award well done. Recognition can come in the form
Unit metrics are equally weighted 50/50 and of cash awards or non-cash awards, including
payouts can range from 0-200%. verbal recognition, mementos, celebrations and
Individual Performance Adjustment — Individual much more.
Performance Adjustments can range from +50%
to -100% of Eligible Earnings multiplied by the
VCIP Target. To learn more about the compensation
programs visit the Compensation pages on
VCIP award determinations and payments are hr.phillips66.com.
performance-based and subject to approval.
Phillips 66 may change or discontinue the
program at any time.
4 YO U R P H I L L I P S 66 TOTA L R E WA R D SHEALTH AND WELL-BEING
Phillips 66 cares about your
health and the health of your Summary plan descriptions are available
family. We recognize that your online at hr.phillips66.com (Resources >
health and well-being are Summary Plan Descriptions) to view,
essential for you to be at download or print. You may request a hard
your best personally and copy, free of charge, by calling the Benefits
professionally. That’s why our medical, vision Center at 800-965-4421.
and dental options, and well-being programs
include valuable coverage options to help you
take control of your health.
BENEFITS ENROLLMENT LEARN MORE ABOUT YOUR BENEFITS
Visit the Benefits Enrollment web page on
Once you have reviewed your benefits information,
hr.phillips66.com.
you are ready to complete your Benefits Enrollment.
Visit myalex.com/p66 to use the
You can enroll online or over the phone — quickly
Interactive Benefits Tool to:
and easily.
• Learn more about your 2020 benefit
Online at UPoint: options.
• Go to My HR Tools and click on the UPoint tile. • Compare the costs of the options.
• From your computer or mobile device, go to • Help you decide which benefits are best
digital.alight.com/phillips66 and enter your for you in 2020.
UPoint user ID and password.
• From your cell phone or mobile device, go to
Phillips 66 HR Connect App (available in the App
Store or Google Play), select “Apps” and launch DEPENDENT ENROLLMENT
UPoint Mobile HR.
If you are enrolling dependents in your
By Telephone: benefits, you’ll be required to provide
• Call the Benefits Center at 800-965-4421, verification of dependent eligibility. After
8 a.m. to 6 p.m. Central time, Monday you’ve enrolled in your benefits, you’ll be
through Friday. contacted by the Benefits Center to complete
the dependent verification process. To learn
Forgot your password? If you can’t remember your more about eligible dependents, visit
UPoint user ID or password, click “Forgot User ID hr.phillips66.com.
or Password” at the UPoint login. Or, you can call
the Benefits Center and say “I don’t know” when
prompted to enter your password.
ACCESS MY HR TOOLS FROM HOME
To access My HR Tools from home, visit
hr.phillips66.com > Resources > Employee
Self-Service.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 5MEDICAL
Phillips 66 offers comprehensive medical benefit options providing coverage for preventive care, regular
checkups and office visits, mental health and substance abuse, and more. The HDHP and PPO options
are offered to eligible employees through either Aetna or Blue Cross Blue Shield (BCBS), based on the
employee’s home ZIP code. Both options also include prescription drug benefits administered by CVS
Caremark.
The Kaiser HMO option is offered to eligible employees who live within a Kaiser service area in California
or Washington. This option includes medical, mental health and substance abuse, and prescription drug
benefits administered by Kaiser Permanente.
HDHP Option PPO Option
Network Non-network Network Non-network
Annual deductible Employee only: Employee only: Employee only: Employee only:
$1,600 $2,400 $800 $1,600
Employee + Employee + Employee + Employee +
Dependents: $3,200 Dependents: $4,800 Dependents: $1,600 Dependents: $3,200
(Includes prescription drug costs) (Excludes medical copays and prescription
drug costs)
Annual Individual: $5,000* Individual: $15,000* Individual: $5,000* Individual: $15,000*
out-of-pocket Family: $10,000 Family: $30,000 Family: $10,000 Family: $30,000
maximum
(Includes deductible and eligible expenses covered by the plan)
* Once the individual out-of-pocket maximum has been met, covered services for that individual
will be paid at 100%.
Preventive medical Covered at 100% $1,500 covered at Covered at 100% $1,000 covered at
care (deductible 100%; you pay 50% 100%; you pay 50%
waived) thereafter thereafter
Doctor visits You pay 20%, after You pay 50%, after Primary care: You pay 50%, after
deductible deductible $30 copay deductible
Specialist:
$60 copay
Telemedicine & $10 copay, after deductible $15 copay
Minute Clinic
Urgent Care $50 copay, after You pay 50%, after $60 copay You pay 50%, after
deductible deductible deductible
Most other You pay 20%, after You pay 50%, after You pay 20%, after You pay 50%, after
services deductible deductible deductible deductible
Centers of You pay 10% for NA You pay 10% for NA
Excellence certain procedures, certain procedures,
after deductible after deductible
Preventive Generic preventive drugs and insulin: No special provision for preventive
prescription drugs Covered at 100%; no deductible prescription drugs
Brand preventive drugs: You pay 20% (Retail:
$150 max.; Mail: $300 max.); no deductible
(continued)
6 YO U R P H I L L I P S 66 TOTA L R E WA R D SHDHP Option PPO Option
Network Non-network Network Non-network
Other network Retail (after deductible): Retail:
prescription drugs • Generic: $10 copay • Generic: $10 copay
• Preferred brand: You pay 20% • Preferred brand: You pay 35%
($150 max.) ($150 max.)
• Non-preferred brand: You pay 35% • Non-preferred brand: You pay 50%
($300 max.) ($300 max.)
Mail (after deductible): Mail:
• Generic: $25 copay • Generic: $25 copay
• Preferred brand: You pay 20% • Preferred brand: You pay 35%
($300 max.) ($300 max.)
• Non-preferred brand: You pay 35% • Non-preferred brand: You pay 50%
($600 max.) ($600 max.)
You pay 100% of the discounted cost until
you reach your annual deductible.
Monthly premium Employee Only: $25.00 Employee Only: $153.00
Employee + Spouse/Domestic Partner: Employee + Spouse/Domestic Partner:
$111.00 $333.00
Employee + Child(ren): $111.00 Employee + Child(ren): $333.00
Employee + Family: $168.00 Employee + Family: $460.00
Annual Health HSA-eligible HCFSA-eligible
Savings Account Phillips 66 contributes: Phillips 66 contributes: $0
(HSA) OR Health
• Employee Only: $500 You can contribute up to: $2,700
Care Flexible
• All other coverages: $1,000
Spending Account
(HCFSA) You can contribute up to:
contribution • Employee Only: Up to $3,050
• All other coverages: Up to $6,100
(Age 55 or over, you can make an additional
contribution of $1,000)
ACTION REQUIRED: Review your medical options
to ensure the right coverage for you and your family. The Interactive Benefits Tool is a great
resource in helping you evaluate which
CONSIDER: As you review your medical options,
medical option might be best suited for you.
think about the medical services used by you and
Visit myalex.com/p66.
your family during the year. Remember to view
your options as a bundle and include medical,
prescription drug, HSA and HCFSA benefits when
comparing plans.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 7ID CARD: You should receive your ID card for your ID CARD: You should receive your ID card for
medical benefits within 3 weeks of completing your your prescription drug benefits within 3 weeks of
enrollment. If needed, you can print a temporary completing your enrollment. If needed, you can
ID card online 10-15 days after completing your print a temporary ID card online 10-15 days after
enrollment. You may print your temporary ID completing your enrollment. You may print your
card by logging onto aetna.com or bcbstx.com/ temporary ID card by logging onto caremark.com.
phillips66 depending on your carrier. First-time First-time users will be required to create an
users will be required to create an account. account. Only the primary cardholder’s name
will be listed on the card.
Mobile App: Download the Phillips 66
HRConnect app. This app provides you many Mobile App: Download the Phillips 66
of the Total Rewards apps. From there you can HRConnect app. This app provides you many
download the Aetna or BCBS app for access of the Total Rewards apps. From there you
to your ID Card, providers, claims and more. can download the CVS Caremark app for
access to your prescription drug benefits.
PRESCRIPTION DRUG BENEFITS
The Phillips 66 HDHP Option and PPO Option
BEHAVIORAL HEALTH SERVICES
include coverage for prescription drug benefits. The Phillips 66 HDHP Option and PPO Option
Your prescription drug coverage is provided through include coverage for mental health and substance
CVS Caremark and includes retail and home abuse benefits. To learn more, view the mental
delivery options for maximum convenience. The health and substance abuse section of the medical
medical option you select will determine your page on hr.phillips66.com under Health &
prescription drug benefits. Keep in mind that you Well-Being.
are generally required to get your maintenance
medications through mail order. However, you can Telemedicine
get a 90-day supply at a CVS Pharmacy through Accessing doctors is easier with telemedicine,
the Maintenance Choice program, where available, which gives you access to a board-certified
instead of going through mail order. doctor by phone or online. You will have access
The CVS Caremark Diabetes Care Team program to telemedicine through a partner of your medical
is available at no cost to eligible members and carrier. These services provide you with 24-hour
includes a new Livongo connected glucometer access to board-certified doctors, including
to simplify tracking of your glucose levels. The pediatricians and behavioral health providers, who
program also provides a supply of test strips and can diagnose health issues, such as cold and flu
lancets delivered to your door as well as access symptoms, allergies, ear infection, rash and skin
to specially trained nurses. Contact CVS Caremark problems and can prescribe certain medications
to learn more about how to enroll. when needed.
To learn more about your prescription drug benefits Teladoc will provide telemedicine services to
and the medications that are covered under the employees with medical coverage through Aetna
plan, view the Prescription Drug Benefit section and MDLive will provide services to employees
of the Medical page on hr.phillips66.com under with medical coverage through BCBSTX. The
Health and Well-Being. contact information will be located on the back of
your carrier’s ID card. This service is available to
Phillips 66 employees and their eligible dependents
enrolled in the HDHP or PPO options.
8 YO U R P H I L L I P S 66 TOTA L R E WA R D SRetail Clinics HEALTH MAINTENANCE
Retail clinics are walk-in medical clinics located ORGANIZATION (HMO)
inside some retail stores such as CVS Pharmacy. Kaiser provides medical, mental health and
The clinics are staffed with clinicians who can treat substance abuse, and prescription drug coverage
minor illnesses and injuries and provide wellness from doctors and facilities participating in the
services (for example, vaccines and physicals). Kaiser network only. You may have an HMO option
if you live in one of the Kaiser service areas in
Centers of Excellence California or Washington. For coverage details,
Centers of Excellence are facilities recognized visit hr.phillips66.com or contact Kaiser.
by your medical carrier for providing high quality
care. For certain covered procedures at a Center Kaiser
of Excellence facility, you’ll pay 10 percent after Website kp.org
your deductible, rather than 20 percent. Details Phone number Kaiser CA: 800-464-4000
are available on your provider site. This service is Kaiser WA: 888-901-4636
available to Phillips 66 employees and their eligible Monthly premium Employee Only: $137.57
dependents enrolled in the HDHP or PPO Options. (CA only) Employee + Spouse/Domestic
Partner: $291.21
Employee + Child(ren): $291.21
Employee + Family: $403.39
Monthly premium Employee Only: $148.61
(WA only) Employee + Spouse/Domestic
Partner: $313.02
Employee + Child(ren): $313.02
Employee + Family: $433.33
Grand Rounds
Grand Rounds is available at no cost to guide your
healthcare decisions. When you need help finding a
top-tier doctor or healthcare professional, a second
opinion from a world leading expert or if you would
like to receive over-the-phone information and
support Grand Rounds is here to help.
Through on-line and mobile app tools, you’ll be able
to search for the best network healthcare providers
in your area, know whether you can expect a fair
price for services and explore different Phillips 66
benefits available to you and when to use them.
To learn more about what Grand Rounds has to
offer, or to activate your Grand Rounds account,
download the mobile app, go to grandrounds.com/
phillips66 or call 844-339-6732. This service is
available at no cost to Phillips 66 employees and
their eligible dependents.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 9DENTAL
Getting regular dental checkups and practicing good dental hygiene are an important part of your overall
health and well-being. The Phillips 66 dental plans provide coverage through MetLife PDP Plus for preventive
care, as well as basic, major services and orthodontia.
In addition to the standard dental plan, we offer an out-of-area dental plan that is available to you if you
don’t have access to at least 2 dentists within 10 miles of your home ZIP code. This plan is designed so
that you pay approximately the same out-of-pocket cost as you would for services from a network dentist
in the standard dental plan. Some restrictions apply, contact MetLife to learn more.
ACTION REQUIRED: Review your dental enrollment to ensure the right coverage for you and your family.
Dental Option Out-of-area*
Network Non-network Dental Option
Annual deductible $50 individual $150 individual $50 individual
$100 family $300 family $100 family
Annual maximum $2,000 per person
Preventive Covered at 100% Covered at 80% Covered at 100% up to
plan limits
Basic services You pay 20%, after You pay 50%, after You pay 20%, after deductible
deductible deductible up to plan limits
Major services You pay 50%, after You pay 50%, after You pay 50%, after deductible
deductible deductible up to plan limits
Orthodontia Covered at 50% up to $2,000 lifetime maximum per person
Monthly premium Employee Only: $7.00
Employee + Spouse/Domestic Partner: $15.00
Employee + Child(ren): $16.00
Employee + Family: $24.00
* Available to those without access to at least 2 dentists within 10 miles of their home ZIP code.
Before seeing your dentist, always confirm that
he or she participates in the MetLife PDP Plus Mobile App: Download the Phillips 66
network. To review the MetLife PDP Plus network HRConnect app. This app provides you many
dental providers, visit metlife.com/mybenefits. of the Total Rewards apps. From there you
ID CARD: An ID card is not required by MetLife can download the MetLife app for access to
providers. Simply let your dental provider know your dental claims and benefits.
you have coverage through MetLife.
10 YO U R P H I L L I P S 66 TOTA L R E WA R D SVISION
Taking care of your vision is important. Phillips 66 provides basic coverage at no cost to employees. Under
the basic plan, you and your family receive routine eye exams at no cost. You may also receive discounts
on other services from VSP network providers. In addition, employees needing greater coverage can select
the Comprehensive Plan option. The chart below shows benefits when you receive services from VSP
network providers.
ACTION REQUIRED: Review your vision enrollment to ensure you have the right coverage to meet your needs.
CONSIDER: If you wear glasses or contact lenses, the Comprehensive Plan offers an allowance for either
glasses or contacts.
Comprehensive Option
Exam Covered at 100% (under the company-provided basic option)
Frames $200 annual allowance*
Contact lenses $180 annual allowance*
Contact lens fitting Covered at 100%
Lenses — Single vision, bifocal, trifocal, Covered at 100% one-time annually
lenticular, polycarbonate (under age 19)**
Lens options — Progressive, anti-reflective Member pays VSP Preferred Pricing
Monthly premium Employee Only: $9.85
Employee + Spouse/Domestic Partner: $17.90
Employee + Child(ren): $17.83
Employee + Family: $28.50
* The annual allowance is for either frames or contact lenses in the calendar year, but not both.
** Polycarbonate lenses are covered at 100% for participants under the age of 19. For participants over the age of 19
they are covered at a discounted rate.
ID CARD: An ID card is not required by VSP providers;
Mobile App: Download the Phillips 66
however, if you’d like a card you can print a temporary ID
HRConnect app. This app provides you
card online 10-15 days after completing your enrollment. You
many of the Total Rewards apps. From
may print your temporary ID card by logging onto vsp.com.
there you can download the VSP app
First-time users will be required to create an account. Only
for access to your ID Card, providers,
the primary cardholder’s name will be listed on the card.
claims and more.
FLEXIBLE SPENDING ACCOUNTS (FSAs)
FSAs let you set aside money on a before-tax basis, and use it to pay for eligible health care and dependent
care expenses.
• Health Care FSA — If you’re not enrolling in the HDHP Option with HSA, you can contribute any amount
from $120 up to $2,700. It’s important to consider your anticipated needs for the year because you’ll
forfeit any FSA funds that aren’t used to pay qualified medical expenses incurred during the year.
• Dependent Care FSA — If you have qualifying dependents, you can contribute any amount from $120 up
to $5,000. This helps you pay for qualified child care services (for example, day care) for children under
the age of 13, or care for a disabled spouse or dependent of any age, which allows you (or, if you’re
married, you and your spouse) to work. It’s important to consider your anticipated needs because you’ll
forfeit any FSA funds that aren’t used to pay qualified dependent care expenses incurred during the year.
The Phillips 66 FSA plan is administered by Alight Solutions.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 11If you enroll in an FSA, either a Health Care Flexible If you participate in the HDHP option with HSA,
Spending Account (HCFSA) or Dependent Care Phillips 66 will contribute the following amounts
Flexible Spending Account (DCFSA), an FSA account in your HSA account based on your coverage:
will automatically be established for you, and you’ll • Employee Only: $500
receive an FSA welcome kit and debit card in the
mail (debit card is for HCFSA only), to pay for • All other coverages: $1,000
expenses. HCFSA and DCFSA contributions can’t For more information about your HSA visit https://
be started or changed after November 30 of each healthaccounts.bankofamerica.com/Phillips66
calendar year. or call 877-785-6698.
ACTION REQUIRED: You must enroll to participate CONSIDER: If you’re enrolling in the HDHP option,
in an FSA. consider maximizing the amount you contribute to
CONSIDER: Review your previous actual expenses your HSA.
and anticipated expenses when determining your Beneficiary Elections: Because your HSA is a
FSA contributions. savings account, the account will transfer to your
For information on eligible health care and designated beneficiary in the case of your death.
dependent care expenses, view the Flexible Visit https://myhealth.bankofamerica.com to
Spending Plan page on hr.phillips66.com or designate your beneficiary.
visit digital.alight.com/phillips66.
WELL-BEING PROGRAM
HEALTH SAVINGS ACCOUNT (HSA) Your health and well-being are very important to us,
An HSA is a tax-advantaged health savings account that’s why we offer a comprehensive package of
that allows you to contribute before-tax dollars that programs to help you maintain good health and live
can be used to pay for current or future health care well. Our well-being program is confidential and
expenses. When combined with a high-deductible completely voluntary.
health plan, it offers unique savings and tax
advantages. You must be enrolled in the HDHP
Resources for Living
option with HSA to contribute to an HSA through An important aspect of well-being is having a
before-tax payroll deductions or receive Phillips 66 sense of balance in all areas of life. But coping
HSA contributions. Your HSA is owned by you, the with an elderly parent, supporting sick family
funds carry over from year to year, and you take it members, or even preparing for a major life
with you if you leave the company. change like getting married, may create stress.
That’s where Resources for Living can help. This
If you enroll in the HDHP option with HSA medical
program includes work-life resources to assist in
plan, an HSA will be established for you, and you
areas such as childcare, elder care, education
will receive an HSA welcome kit and debit card in
and daily living — all at no cost to you.
the mail. During the enrollment process, you can
elect an amount to contribute to your HSA on a These services include confidential resources
before-tax basis through payroll deduction. You (including up to 5 free counseling sessions per
can change this amount at any time during the person, per event per year) to assist you and your
year. Enrollments in the HDHP option with HSA eligible dependents with stress that can be caused
effective after December 1 of each calendar year by daily life events. This service is available at no
are not eligible for a company HSA contribution in cost to all Phillips 66 employees and their eligible
that calendar year. Before-tax HSA contributions dependents.
can’t be started or changed after November 30
of each calendar year.
12 YO U R P H I L L I P S 66 TOTA L R E WA R D SVirgin Pulse — Our Well-Being Partner
Virgin Pulse provides an array of resources to Phillips 66 employees:
• Well-Being Assessment — A confidential, online questionnaire that provides a personalized wellness report
and an action plan for improving your health.
• Health Coaching — One-on-one phone meetings with a health expert who can help you improve your health
and support you along the way.
• Other Resources — Tools to help you build healthy habits related to your physical, financial and social goals.
Well-Being Incentive
Having an understanding of your vitals and daily habits is a good way to stay on top of your overall health and
well-being. The Well-Being Incentive is designed to help you focus on a few key activities supporting healthy
behaviors and positive change.
You have the opportunity to receive payroll credits of up to $650 by completing the activities listed in the table
below:
Activity Payroll Credit
Note: These
Submit biometric screening results by Nov. 30, 2020 $100 activities are
Obtain BMI of less than 30 or consult with a primary care physician $250 required to
be eligible for
Obtain blood pressure of less than 140/90 or consult with a primary up to $100
the Fitness
care physician
Reimbursement
Complete 2 preventive screenings ($50 each) (For example: annual up to $100
physical, well-woman’s exam, dental exam, vision exam, etc.)
Complete 1 company-wide challenge $100
Total well-being incentive credit up to $650
* Participating employees currently enrolled in Grand Rounds will receive a payroll credit as soon
as administratively possible after Jan. 1
Fitness Reimbursement Program
You can receive a fitness reimbursement of up to $500, through payroll, for fitness-related memberships and
activities for you and your eligible dependents enrolled in the medical plan. The total reimbursement of up to
$500 can be requested once you have completed the well-being incentive activities listed below:
• Submitted biometric screening results;
• Obtained a body mass index (BMI) of less than 30 or have consulted with a primary care physician; and
• Obtained a blood pressure of less than 140/90 or have consulted with a primary care physician.
The fitness reimbursement includes most fitness-related memberships and activities. For example: CrossFit,
yoga, Pilates, personal training, massage therapy, virtual fitness classes, genetic testing kits, adult and child
sports league fees, nutritional counseling and Weight Watchers program fees.
To learn more, view the Fitness Reimbursement Program section on the Well-being page of hr.phillips66.com.
This service is available to Phillips 66 employees.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 13PREPARING FOR THE UNEXPECTED
Sometimes we are faced with Employee Supplemental Life Insurance
unexpected events that can
You can purchase up to 8 times your annual pay in
have life-altering impact on
supplemental life insurance.
our loved ones. We understand
you work hard to protect your CONSIDER: Review your personal circumstances
loved ones. Phillips 66 offers to determine if these options are right for you and
different insurance benefits so you can choose the your family.
right amount of protection for you and your family.
LIFE AND ACCIDENT INSURANCE ACTION REQUIRED
With both company-provided and optional voluntary You are required to attest to your tobacco
benefits, our life and Accidental Death and status annually. If you don’t, you will pay
Dismemberment (AD&D) benefits give you the higher tobacco rates for the entire year.
flexibility to choose the coverage that works best A tobacco user isn’t necessarily a smoker —
for you. it’s anyone who uses tobacco. Phillips 66
defines tobacco products as cigars,
Phillips 66 Provided Insurance cigarettes, smokeless tobacco (snuff
Phillips 66 provides you with: or chewing tobacco), pipe tobacco or
roll-your-own tobacco.
• Basic life insurance of 1 times your annual pay;
and You will be considered a non-tobacco user
if you have not used tobacco more than
• Occupational Accidental Death (OAD) coverage
4 times in the prior 6 months.
of $500,000 (for most employees).
The company pays the full cost of these coverages.
Monthly Supplemental Life Premiums
Your premium per $1,000 of coverage is ...
If your age is … Non-Tobacco User Tobacco User
Under 30 $0.046 $0.060
30 – 34 $0.062 $0.103
35 – 39 $0.070 $0.138
40 – 44 $0.077 $0.181
45 – 49 $0.110 $0.281
50 – 54 $0.166 $0.467
55 – 59 $0.300 $0.926
60 – 64 $0.526 $1.368
65 – 69 $1.031 $3.230
70 & over $1.448 $4.086
14 YO U R P H I L L I P S 66 TOTA L R E WA R D SSpouse Life Insurance Employee Accidental Death &
You can elect to purchase life insurance coverage Dismemberment (AD&D)
for your spouse in increments of $50,000 to You can purchase AD&D coverage in increments of
$500,000. $50,000 to $1 million.
Monthly Spouse Life Premiums Spouse and Child AD&D
If your Your premium per You can purchase AD&D coverage for your spouse
spouse’s age is ... $1,000 coverage is ... in increments of $50,000 to $500,000 and AD&D
Under 30 $0.050 for your eligible child or children in increments of
30 – 34 $0.070 $10,000 to $50,000.
35 – 39 $0.080 You pay the full cost of these coverages.
40 – 44 $0.090
45 – 49 $0.130 AD&D Insurance Monthly Premium
50 – 54 $0.190 Employee AD&D
(no age limit)
55 – 59 $0.350
Spouse AD&D $0.017 per $1,000 of
60 – 64 $0.610 (ends at age 70) coverage
65 – 69 $1.190 Child AD&D
70 & over $1.660 (ends at age 25)
Child Life Insurance
You can elect or cancel employee
You can elect to purchase life insurance coverage
supplemental, spouse or child life insurance
for your child or children. There are three coverage
coverage at any time. Evidence of Insurability
options available: $15,000, $20,000 and $25,000.
(EOI) may be required.
This election covers all eligible children.
Child Life Insurance Monthly Premium
$15,000 of coverage $ 0.75
$20,000 of coverage $ 1.00 You can enroll in Supplemental Life
Insurance up to 4x pay and/or Spouse Life
$25,000 of coverage $ 1.25
up to $50,000 without providing evidence of
insurability (EOI), as long as you enroll within
Beneficiary Elections: Be sure to designate 30 calendar days of your hire date. If you
your Life Insurance and AD&D beneficiaries when want to enroll after the enrollment period,
electing your life insurance benefits in UPoint. Each EOI may be required and your health
benefit will require a beneficiary designation. application must be approved.
Evidence of Insurability (EOI) is an application
process in which you provide information
Summary plan descriptions are available
on the condition of your health or your
online at hr.phillips66.com (Resources >
dependent’s health in order to be considered
Summary Plan Descriptions) to view,
for certain types of insurance coverage.
download or print. You may request a hard
copy, free of charge, by calling the Benefits
Center at 800-965-4421.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 15DISABILITY
Your income provides for you and your family. If the unexpected should occur and you are unable to work
due to a non-occupational illness or injury, our disability plans can help provide financial security for you
and your family.
Short-Term Disability (STD)
STD benefits will replace a portion of your pay for up to 26 weeks. The number of weeks paid at 100%
or 60% will be determined by your service date according to the schedule below. Benefits may differ for
employees covered under a collective bargaining agreement (CBA). Employees at such sites should consult
their HR Business Partner (HRBP) or CBA.
Note: The company pays the full cost of this coverage.
STD Benefits Schedule
Years of Service* Weeks at 100%** Weeks at 60%**Long-Term Disability (LTD)
LTD replaces a portion of your pay if you experience
a disability and are unable to work for a period of You can enroll in either level of long-term
more than 26 weeks. disability insurance (Enhanced) without
providing evidence of insurability (EOI), as
All eligible employees will be defaulted to
long as you enroll within 30 calendar days of
company-provided basic LTD, which pays 50%
your hire date. If you want to enroll after the
of your pre-disability earnings, with a maximum
enrollment period, EOI may be required and
benefit of $5,000 per month. If you want additional
your health application must be approved.
coverage you must enroll in employee-paid
enhanced LTD. Enhanced LTD pays 60% of your
pre-disability earnings. The maximum benefit is
$10,000 per month. CONSIDER: Evaluate your personal circumstances
to determine if you have enough coverage to
Long-Term protect you and your family if the need should
Disability (LTD) Monthly Premium arise. Review your choices to determine if Basic or
Basic LTD Company paid Enhanced LTD coverage is right for you. If you are
Enhanced LTD $0.341 per $100 of the primary income provider, this is a critical
pre-disability earnings benefit to consider.
You can enroll, change or cancel Enhanced
LTD coverage at any time. Evidence of
Insurability (EOI) will be required if you enroll
more than 30 days after the date you are
first eligible or if you increase coverage.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 17PENSION AND SAVINGS
Wherever you are in your career, Your Cash Balance Account benefit grows through
retirement planning is important. pay credits and interest credits that Phillips 66
Retirement is one of the most applies each month. Each month, your account
important life events many of us increases with pay credits and interest credits.
will ever experience. Phillips 66 Your benefit is based on the total amount of
offers both a pension and those credits in your account when you leave the
savings plan to help you better prepare for and company, your age when your benefit payments
achieve your retirement goals. begin, and the form of payment you elect.
Our company-provided pension and savings Pay Credits
benefit, combined with Social Security and your
own personal savings and investments, can help Pay credits are based on your age plus years of
you plan for retirement and strengthen your service with the company. Add your age and service
financial future. points together to find your total points.
As an eligible Phillips 66 employee, you will If your points (age + Your pay credit
automatically participate in the company-paid service) are … percentage is …
pension benefit — the Phillips 66 Cash Balance Under 44 6%
Account. And you can add to your retirement 44 through 65 7%
savings — and earn company contributions —
66 or more 9%
by participating in the Phillips 66 Savings Plan.
PENSION — PHILLIPS 66 CASH To calculate the amount that is credited to your
BALANCE ACCOUNT account each month, multiply your monthly pay by
your pay credit percentage.
At Phillips 66, we are proud to offer you a company-
paid pension benefit that builds cash for your Interest Credit
retirement years. Most newly hired employees are
To help protect your account against inflation,
eligible to participate as of the first of the month
interest credits are applied on the account. Each
after their first year of employment. Once you are
month, an interest credit is applied to your account.
eligible for the program, you will accrue benefits
This credit is calculated by multiplying the value of
for all service beginning as of the first of the month
your account by the interest credit rate. That rate is
following your employment start date. Generally,
based on 30-year U.S. Treasury security rates and
you are fully vested in your benefits after three
is adjusted on a quarterly basis. To calculate your
years of service.
interest credit, the credit rate is multiplied by your
The Cash Balance Account is not like a bank account value at the prior month’s end.
account in which you deposit and accumulate
To learn more about this valuable program and
money. It’s a nominal (in name only) account,
how to calculate your pension benefit, view the
which means that instead of accumulating money,
Phillips 66 Cash Balance Account Summary
it accumulates credits.
Plan Description.
Summary plan descriptions are available online at hr.phillips66.com (Resources > Summary Plan
Descriptions) to view, download or print. You may request a hard copy, free of charge, by calling the
Benefits Center at 800-965-4421.
18 YO U R P H I L L I P S 66 TOTA L R E WA R D SSAVINGS — PHILLIPS 66 SAVINGS PLAN
To further help you plan for the future, we offer the Phillips 66 Savings Plan, which includes potential tax
savings, company matching and Success Share contributions and a choice of investment options. The
Savings Plan is administered by Vanguard.
There are two parts to the plan:
Thrift (You and the company contribute) Success Share (The company contributes)
Below are the Thrift highlights: Success Share is a discretionary company
• You will be automatically enrolled in the plan, contribution. The Success Share contribution is
through a convenient payroll deduction, at the made in October and ranges from 0% to 6% of
default contribution rate of 6% of eligible pay eligible pay as determined by senior management.
on a before-tax basis. Your contributions will be You must be actively employed as of the processing
invested in the date-specific Vanguard® Target date to be eligible to receive a Success Share
Retirement Trust closest to the year you reach contribution.
age 65.
To view the Success Share FAQs or to learn more
• Your before-tax contribution percentage will about the Savings Plan visit hr.phillips66.com.
be automatically increased by 1% each March
beginning the calendar year after your hire date
until your contribution percentage reaches 10%.
You are immediately 100% vested in
• Phillips 66 will contribute $1 to your account for contributions to the Phillips 66 Savings Plan.
every $1 you contribute each pay period, up to You will be automatically enrolled in
6% of your eligible pay. The company matching Vanguard. This process can take up to
contributions will be allocated according to your 15 business days. Once your account has
current investment selection. Contributing at been established you will receive a welcome
least 6% allows you to take full advantage of letter from Vanguard mailed to your address
the company match. of record and you can access your account
• You may contribute from 1% to 75% percent of online at vanguard.com.
your eligible pay. You can increase, decrease or
end your contributions at any time.
• Contributions can be on a before-tax, after-tax,
or Roth 401(k) basis (or any combination). Vanguard offers helpful tools to help plan for
retirement. Visit hr.phillips66.com to explore
• Choice of funds in which to invest in and you can
and take advantage of these useful tools.
change your contribution rate and investments
at any time.
• Change contribution rate and investment Beneficiary Elections: Be sure to designate
elections at any time. your beneficiaries for your pension and savings
accounts. Each benefit will require a beneficiary
designation.
• Savings: Visit Vanguard to designate your
beneficiary
• Pension: Visit UPoint to designate your
beneficiary
YO U R P H I L L I P S 66 TOTA L R E WA R D S 19EMPLOYEE PROGRAMS AND POLICIES
At Phillips 66 we recognize that priorities surface in your personal life that require
your time and attention. We believe that in addition to high quality benefits it is equally
important to have policies in place that enable you to manage your priorities personally
and professionally. Highlighted below are several policies* that demonstrate our
ongoing commitment to provide workplace flexibility in support of our employees
and their families.
* Subject to the eligibility provisions of each policy.
VACATION AND HOLIDAYS RETHINK
As much as you’ll love being a part of the Rethink is a company-provided benefit which offers
Phillips 66 team, it’s important that you take caregiver assistance (tools, training and clinical
time away from work when needed. Your annual guidance) for those supporting individuals with
vacation total is based on years of service with learning, social and behavioral challenges. Rethink
the company. is available on demand 24/7 and will be offered to
all U.S. employees.
Your annual vacation total will be earned monthly.
You can take vacation at any time during the year • SCHEDULE ongoing teleconsultations with a
with supervisor approval (even if you have not behavior expert.
earned all of it). Employees that leave the company • LEARN from how-to videos and access printable
will only be paid for vacation days that have been resources.
earned and not used at the time of termination.
Refer to the FAQs on hr.phillips66.com (Employee • TEACH crucial skills in socialization, language,
Programs & Policies > Employee Programs) for self-help, academics, and employment.
additional information. • DECREASE problem behaviors and improve the
home environment.
Number of vacation • COLLABORATE more effectively with school and
days earned each year
other caregivers.
Years of service on a monthly basis
1–4 10 • No diagnosis needed and no age restrictions.
5–9 15 • Not a part of your health plan (no fees or claims).
10 – 19 20 • 100% compliant with the Health Insurance
Portability and Accountability Act (HIPAA).
20 – 29 25
30 or more 30
19/30 WORK SCHEDULE
Sometimes you just need a day off to recharge,
We also observe several paid holidays each year.
relax or take care of business. With the 19/30
The specific holidays vary by location and are
program (available at certain sites), you can take
announced each year or are available online.
a personal day off each month by extending each
of your working days that month by 30 minutes.
It’s entirely voluntary, and you must schedule your
day off with your supervisor. The program is not
available to employees who work shift schedules
or who are covered by a collective bargaining
agreement (unless the agreement includes it).
Please check with your HR Business Partner to
confirm eligibility.
20 YO U R P H I L L I P S 66 TOTA L R E WA R D SPARENTAL AND MATERNITY EMPLOYEE DISCOUNT PROGRAM
BENEFITS The Employee Discount Program helps you save
• Parental Leave — this policy provides mothers on products and services you use every day.
and fathers up to 2 weeks of parental leave for Administered by Beneplace, our discount website
the care and bonding of a child within 12 months gives you access to deals on consumer products,
of the child’s birth or adoption. dining, automotive services, health and wellness
products, travel and so much more.
• Maternity Leave — the Short-Term Disability
Plan provides birth mothers up to 10 weeks of
short-term disability leave paid at 100% for the ADOPTION ASSISTANCE POLICY
birth of a child. Phillips 66 helps you with adoption expenses,
including agency fees, placement fees, legal fees,
COMMUNITY SERVICE LEAVE court costs and other expenses. Regular full-time
employees can receive up to $3,000 per adopted
Phillips 66 values volunteerism in the community.
child ($6,000 for twins) and part-time employees
The Community Service policy allows up to two
are eligible for a prorated amount.
days of paid time off so that you can volunteer your
personal time to give back to the community in
which you work. Time off can be taken in half-day VOLUNTEER GRANTS
increments, and used for eligible charitable Phillips 66’s volunteer grant program turns your
organizations. volunteer time into money. We donate $500 for every
20 hours you or your spouse volunteer with an eligible
OTHER TIME OFF POLICIES 501(c)(3) non-profit organization. And if you form a
team of four or more employees, retirees or spouse
Our policies are designed to help balance your work
volunteers, you may apply for a team volunteer grant
and life and give you time to focus on yourself and
of $1,000.
your family. These include:
• Flexible core working hours MATCHING GIFT PROGRAM
• Part-time regular work schedules
Phillips 66 firmly believes in improving the
• Death in Family communities in which our employees live and work.
• Serious Illness in Family When you donate money to your favorite charities, we
• Excused Leave with Pay and Hardship match your donations with company money. For every
Assistance dollar you contribute to an eligible 501(c)(3) non-profit
• Civic Duty Leave organization, Phillips 66 will donate another dollar, up
• Disability Leave to $15,000 per year. Retiree donations are matched
dollar-for-dollar up to $7,500 a year.
• Family and Medical Leave (FMLA)
• Military Leave
DEPENDENT SCHOLARSHIP
• Personal Leave
PROGRAM
Every year, we award up to 66 of our employees’
dependents a $16,000 scholarship each, payable
Subject to the eligibility provisions of each
over four years. Your child can apply for one of the
policy. These benefits apply to all non-
scholarships during his or her senior year of high
represented employees, as well as those
school.
represented employees where provided for
under the terms of an applicable collective
POLICIES
bargaining agreement. Consult with your
HR Business Partner (HRBP) or CBA to It is important to read and understand the Phillips 66
learn more. policies. Contact your HR Business Partner to learn
about the policies that you are required to review. To
learn more about our programs and policies visit
hr.phillips66.com.
YO U R P H I L L I P S 66 TOTA L R E WA R D S 21You can also read
