Leaving the Company
- Important Considerations
Below are important considerations to keep in mind if you separate employment from Marathon Petroleum prior to being retirement-eligible.
- Home Address and Telephone Number
Having current information on file will help ensure you receive your W-2s and Fidelity mailings.
- Active employees must make address updates in Workday. Visit Workday and type in “change my contact information”.
- Retirees and Non Employees, please email your updated address information to HRDataHelp@MarathonPetroleum.com.
- Health, Dental, Vision and EAP Coverage
- Health, Dental and Vision coverage terminate at midnight on your last day of employment.
- EAP coverage continues for you and your household members for 36 months following separation at no cost to you.
- COBRA Coverage
- Continuation of coverage in the Health, Dental and Vision plans will be offered to you and your eligible dependents provided you were covered by the plans on your last day of employment.
- Additional COBRA information can be found here.
- Health Care Flexible Spending Account (HCFSA)
- You can continue to submit claims incurred (with a date of service) prior to your termination date, as long as submitted to PayFlex by next May 31.
- Fidelity Health Savings Account (HSA)
- If you have a Health Savings Account as a result of enrolling in the Saver HSA health plan option, all money in your account belongs to you.
- The money can remain in your account at Fidelity. You can transfer the funds to another HSA with a new employer, or transfer funds to another qualified account. If you are not a Marathon Petroleum Retiree at the time of your termination, you may be responsible for any fees associated with the HSA upon termination of employment.
- Contact Fidelity at 1-800-544-3716 if you have questions on your account.
- Accidental Death & Dismemberment (AD&D) Coverage
- Coverage ends at midnight on your last day of employment.
- You have the right to port coverage to an individual policy with MetLife within 31 days of your last day of employment. For more information, click here. Call MetLife at 1-877-275-6387 for rates if you are interested.
- Life Insurance Coverage
- Coverage ends at midnight on your last day of employment; however, if you die within 31 days following termination, the coverage in force at the time of your termination will be paid to your beneficiary.
- You have the right to convert or port coverage to an individual policy with MetLife within 31 days of your last day of employment. For more information, click here. Call MetLife for rates at 1-877-275-6387 if you are interested.
- This information also applies to Dependent Life Insurance.
- Long-Term Disability (LTD)
- Coverage terminates on your last day of employment.
- Thrift Plan
- It takes approximately three to four weeks to invest your final Thrift contribution and change your employment status with Fidelity.
- Whether you can maintain your account depends on its vested value:
- If your vested account value is greater than $5,000, you can leave your money in the Thrift Plan or take your distribution at any time by calling Fidelity at 1-866-602-0595.
- You can leave your account at Fidelity until no later than April 1 following the year you turn 72.
- To avoid default, all outstanding loans must still be repaid.
- You can continue making payments via ACH to Fidelity; or
- You can repay your full loan balance with a check ; or
- You can take a one-time partial withdrawal within 60 days of termination to repay your loan.
- If you don’t repay your loan, you will be contacted by Fidelity regarding their procedure to report the outstanding amount as a distribution to the IRS.
- You can still make transfers between investment options.
- You can change your beneficiaries (with spousal consent).
- You cannot take additional loans.
- You may be able to take certain withdrawals depending on your age.
- You continue to receive statements from Fidelity.
- If your vested account value is less than $5,000, you will be notified within three months that you must take your distribution.
- The withdrawal can be paid to you or you can choose to do a direct rollover, if your balance is at least $1,000.
- If you don’t respond, the monies will be distributed (if balance is less than $1,000) or rolled into a Fidelity IRA account (this is an outside account — not within the Thrift Plan).
- Review the Withdrawals After Separations from Service and Appendix D. Special Tax Notice Regarding Plan Payments of the Marathon Petroleum Company Thrift Plan SPD click here.
- Retirement Plan
- The Plan requires three years of vesting service in order to be vested.
- If you are vested, prior to your last day of employment you may want an estimate of your Retirement benefit. Estimates are available through Fidelity at www.netbenefits.com/marathonpetroleum or 1-866-602-0595.
- If you are vested, you will need to call Fidelity to elect to take your retirement benefits.
- If you have not elected to take your vested retirement benefit and you die and:
- You are married:
- Legacy Formula – your surviving spouse is eligible to received ½ of the monthly benefit amount beginning when you would have turned age 50.
- Cash Balance Formula – a lump sum will be payable to your spouse.
- You are single:
- Legacy Formula - no benefit is payable.
- Cash Balance Formula – a lump sum will be payable to your Estate.
- Vacation and Holidays
- Unused vacation will be paid in your final paycheck (direct deposited or mailed as usual), on the next scheduled payday.
- Your separation date cannot be moved forward to include your unused vacation days or holidays.
- If you don’t take your floating holiday before you terminate, you won’t be paid for it except as required by state law.
- Farmer’s Group Select Home and Auto Insurance (formerly MetPay)
- If you are currently enrolled, coverage can continue as long as premiums are paid; however you will be converted from payroll deduction to direct billing, and you may not be eligible for special group rates and discounts.
- If you move to another state, availability of policies and coverage may vary.
- Call Farmer’s Group Select at 1-800-438-6381 as soon as possible.
- Parking/Transit Accounts
- LAZ building parking ends on your last day of employment.
- If you have a Commuter MasterCard, the card will expire on the last day of the termination month.
- Call PayFlex at 1-844-729-3539 or www.payflex.com for additional information.
- Returning Company Property
- Computers, office keys, or job-related equipment should be left with your leader or designated on-site individual. Your company credit card and parking pass can be securely destroyed. You may return your company cell phone and/or iPad to your HR Business Partner.
- If you have a company cell phone and/or iPad and would like to purchase the device or transfer the numbers, please review the Separating Employee Mobile Device Purchasing Procedure and contact Cell Services with any questions, email@example.com.
- Where to Go for Assistance
Active Employees: Did you know employees can now find answers to their Benefits/HR related questions immediately, within Workday? Visit Workday and enter your topic within the search bar at the top of the Workday screen to view related articles.
Can’t find your answer within an article? Workday also provides opportunities for employees to obtain answers by creating cases that are assigned to subject matter experts within MPC, to help answer your questions. To create a case, visit Workday and type “create a case” in the Workday search bar.
Retirees/Non Employees: For questions please email Benefits@MarathonPetroleum.com or call 1-888-421-2199, Option 1, then Option 3.
No portion of this benefits summary is intended to change the terms of the plans and policies, or the official texts that control them. If there is any inconsistency between this summary and the official texts of the plans and policies, the official texts will prevail.