Summary Plan Descriptions (SPDs) and additional plan details are available by clicking the title link of each corresponding plan. The Company reserves the right to modify, amend, suspend, or terminate any of these plans at any time; provided, however, that no such amendment or termination shall affect the right of a Member to receive any unpaid benefit under any plan.
Flexible Benefit Plan
This plan allows employees to make premium payments for medical, dental, and optional accidental death and dismemberment insurance coverage on a pre-tax basis.
Group Insurance Plan
We provide company-paid life insurance and accidental death and dismemberment insurance. Employees may also elect to purchase additional life insurance and accidental death and dismemberment insurance for themselves and their eligible dependents.
Medical Payment Plan
Medical coverage is available for employees and their eligible dependents who elect to participate.
Dental coverage is available for employees and their eligible dependents who elect to participate. Employees are responsible for paying for their selected coverage.
Retirement Income Plan
This is a defined benefit pension plan that provides retirement benefits to vested employees. Employees become eligible to participate in the plan on their hire date, and become vested upon completing five years of eligible service or upon reaching the plan’s normal retirement age of 60. Aramco Services Company pays the cost of this plan.
The Savings Plan – 401(k)
We encourage employees to save responsibly for their future. So, new employees are automatically enrolled in The Savings Plan at a rate of 9 percent of their monthly base earnings, unless they elect otherwise. We also match employee contributions dollar-for-dollar up to the first 9 percent of their monthly base earnings. Employees are immediately vested in company contributions.
We provide certain salary continuation benefits for a specified period of time for employees who are unable to work as a result of illness or injury. New employees automatically become participants in the plan upon completion of six months of continuous eligible service. Aramco Services Company pays the cost of this plan.
We provide benefits for a specified period of time for employees who are unable to work as a result of a long-term illness of injury. Aramco Services Company pays the cost of this plan.
Retiree Medical Payment Plan
Health Reimbursement Arrangement (HRA) for Medicare-Eligible U.S. Dollar Retirees & Dependents
Medical coverage is available for retirees and their dependents who meet plan eligibility requirements and elect to participate.
Because the overall health and well-being of our team is important to us, we offer a variety of programs, plans, and services to choose from.
Additional benefits include, but are not limited to:
Based on the office location, the following services may be offered: