The CITGO Retirement Plans are completely funded with contributions made by the Company. These plans are qualified defined benefit plans (a special status granted by the Internal Revenue Service). As a result, you enjoy the advantage of deferring income taxes on the contributions the Company makes to the Plan on your behalf until you begin receiving benefits from the Retirement Plan.

The following links provide valuable information and details regarding Retirement.

Applying for Your CITGO Retirement Benefit

The First step is to determine your retirement date. Once you have made that decision, the second step is to start the process.

To start the process:

• Active employees:
  • Contact your Human Resources Consultant or Business Partner at least 45 days but no more than 90 days prior to your proposed retirement date to request your Retirement Benefit Summary and Pension Kit. We also encourage you to contact the Benefits Helpline.
• Former employees:
  • Contact the Benefits Helpline to request a Pension kit at least 45 days but no more than 90 days prior to the date you would like your payments to commence.

NOTE: CITGO Benefits Representatives are available to answer all of your retirement questions. Be prepared to provide the required information about yourself and your spouse or other beneficiary, as applicable, in order for them to process your retirement. You may call or email the Benefits Helpline 24 hours a day, 7 days a week. If necessary, please leave a message and a Representative will return your call or email within 24 hours, Monday through Friday. Messages left on Friday evening, Saturday or Sunday will be responded to on Monday. If you leave a message, be sure to leave pertinent details including your name, social security number and phone number. Don’t be afraid to ask questions!

Active employees will receive the following materials within 2 to 3 weeks after you contact Human Resources:

1. Retirement Eligibility Sheet - Reflects if you are retiree eligible under the CITGO benefit plans.

2. Benefit Summary - Includes information regarding your medical, dental, vision, life and personal accident coverage’s, along with additional information about spending accounts, the 401(k) Plan, and the pension/retirement benefits.

3. Benefit Confirmation Statement

4. Rate Sheet

5. Benefits into Retirement Continuation Form and EFT (Electronic Funds Transfer) Enrollment Form and letter of explanation.

6. Pension Kit - This will include an estimate of your pension benefits and all applicable retirement forms.

7. 401(k) Statement

8. Special Tax Notice

9. Benefits Contact Sheet

10. Social Security/Medicare Booklet (This will be included if you are age 64 or older)

11. Postage-paid Return Envelope Be sure to check your forms to ensure that all the necessary information has been completed, and return the forms by the date indicated in your kit. If you need help in understanding or completing any of the forms, please do not hesitate to contact the CITGO Benefits Helpline for assistance. They will be happy to assist you through this process and answer any of your questions. Remember, they are here to help you! Call toll free 1-888-443-5707 or email benefits@citgo.com.

All required forms must be completed, signed and returned along with the requested documentation 30 days prior to your requested retirement date. Otherwise, the date your pension benefit payments begin may be delayed. The date your pension benefit payments begin and the type of payment option also depends on when you complete and return all of the required forms included in your retirement kit. If you are eligible to begin receiving your monthly retirement annuity benefit, your monthly benefit payments will begin the first day of month following your elected retirement date, which will include payment for the first and second month. (First month’s payment is paid in arrears, thereafter, payments are made the 1st of each month for that month.)

The CITGO Benefits Helpline will be happy to assist you with the retirement process; however, they can’t offer assistance with applying for your Social Security Benefit or Medicare.

It is up to you to apply for your Social Security and Medicare benefits. The application processes are described below.

Social Security

Medicare

• By calling the Social Security Administration at 1-800-772-1213.
• By accessing the Medicare Website at www.medicare.gov. When you enroll in Medicare, you may be required to provide the following:
• Proof of age
• Your previous year’s Form W-2 Wage and Tax Statement (earnings)
• Your Social Security card or record of your number
• Marriage certificate, if applicable. Please note: If you are covered by CITGO’s medical plan as a retiree, your eligibility for medical benefits changes significantly when you become eligible for Medicare. For additional information regarding coordination of benefits between the CITGO Medical plan and Medicare, please refer to your Medical Summary Plan Description.

CITGO Pension Estimator is an online tool that allows you to model your pension benefit using various retirement dates and assumptions.

For information about your pension plan benefits, refer to your respective Summary Plan Description (SPD). If you have any questions after you have read your SPD, contact the CITGO Benefits Helpline at benefits@citgo.com or 1-888-443-5707.

  Pension Estimator Registration and Log In Instructions

  Access CITGO Pension Estimator

The following links include the necessary information you will need to provide in order to begin receiving your monthly retirement annuity benefit. Please review this information prior to contacting the CITGO Benefits Helpline.

  List of Required Information
  List of Required Documentation
  Social Security and Medicare – This link provides valuable information regarding these benefits. We encourage you to review this information.
  Summary Plan Descriptions

  Retirement Eligibility Rules

  CITGO Salaried Employees’ Pension Plan

  Retirement Plan of CITGO & Participating Subsidiary Companies

  Pension Plan for Hourly Employees of CITGO Refining & Chemicals

  PSI Pension Plan

  UNO-VEN Retirement Plan

   Salaried Employees’ Pension Plan

   CRC Pension Plan

   UNO-VEN Retirement Plan

If you have a change of address you must contact CITGO’s Benefits Helpline toll free at 1-888-443-5707 or by email at benefits@citgo.com. You may also send your address change to the following:

CITGO Petroleum Corporation
Attn: HR Total Rewards
1293 Eldridge Parkway – MS N5063
Houston, TX 77077

Please note, if you need to change your bank account information for the monthly payment of your medical, dental, vision and/or life insurance coverage’s you must contact CITGO’s Benefit Helpline at 1-888-443-5707.

The Pension Protection Act (PPA), enacted in 2006, requires sponsors of defined benefit pension plans to provide plan participants with certain information about the funded status of their plan. The “Annual Funding Notice” meets the annual requirement. Before reviewing the Notice, it may be helpful for you to have some context for the information it includes. This cover memo should help you better understand the Funding Notice.

The Notice is not a notice of any intention of CITGO to change your benefits in any way. It is only to provide information to meet legal requirements.

Understanding the Annual Funding Notice
Defined benefit plans are designed to provide plan participants with a benefit at retirement based on the plan’s formula. In order to ensure sufficient funds exist to pay for these future retirement benefits, CITGO makes contributions to a trust fund. That money is set aside for plan benefits and invested based on established investment guidelines. The funding and investment policies are outlined in broad terms in the attached Notice. The timing of contributions is determined by federal guidelines. The amount of contributions is based on a review made by outside actuaries who look at both how much is in the trust (assets) and future obligations for benefits (liabilities). The asset and liability measures used by our outside actuaries to determine the company’s annual contributions to the plans are summarized in the “Funding Target Attainment Percentage” on page 1 of the Notice. These values are as of January 1 of the respective year.

For More Information About Your Benefits
If you have questions about this Notice or your benefits in general, please contact the Benefits HelpLine toll free at 1-888-443-5707 or by email at Benefits@citgo.com.

  Hourly Employees Retirement Plan

  Salaried Employees Pension Plan

  UNO-VEN Retirement Plan

The PBGC guarantee generally covers (1) normal and early retirement benefits, (2) disability benefits if you become disabled before the Plan terminates and (3) certain benefits for your survivors. The PBGC guarantee generally does not cover (1) benefits greater than the maximum guaranteed amount set by law for the year in which the Plan terminates, (2) some or all of the benefit increases and new benefits based on Plan provisions that have been in place for fewer than five years at the time the Plan terminates, (3) benefits that are not vested because you have not worked long enough for the Company, (4) benefits for which you have not met all of the requirements at the time the Plan terminates, (5) certain early retirement payments (such as supplemental benefits that stop when you become eligible for Social Security) that result in an early retirement monthly benefit greater than your monthly benefit at the Plan’s normal retirement age, and (6) any non-pension benefits, such as health insurance, life insurance, certain death benefits, vacation pay and severance pay. Even if certain of your benefits are not guaranteed, you may still receive some of those benefits from the PBGC depending on how much money your Plan has and on how much the PBGC collects from employers. However, there is a ceiling on the amount of monthly benefit that the PBGC guarantees, which is adjusted periodically.

For more information about the PBGC and the benefits it guarantees, ask your Plan administrator or the PBGC. Inquiries to the PBGC should be addressed to:

PBGC
Technical Assistance Division
1200 K Street, N.W., Suite 930
Washington, D.C. 20005 – 4026

The PBGC can also be reached by calling 202-326-4000 (not a toll-free number). TTY/TDD users may call the federal relay service toll-free at 800-877-8339 and ask to be connected to 202-326-4000. Additional information about the PBGC’s pension insurance program is available through the PBGC’s Web site on the Internet at http://www.pbgc.gov.

  Retirement Plan of CITGO Petroleum Corporation (Hourly)

  CITGO Petroleum Corporation Salaried Employees' Pension Plan

  Pension Plan of CITGO Refining & Chemicals, INC (CRC)

  UNO-VEN Retirement Plan

  PSI Pension Plan

1. Your name and social Security number
2. Your home address and telephone number
3. Your current marital status
4. Your spouse’s name, Social Security number, and date of birth (if you are married)
5. Your benefit commencement date (the date that you would like payments to begin)
6. Your
   beneficiary information:
   • If you are married; if you would like to designate someone other than your spouse as a beneficiary, please provide the beneficiary’s name, date of birth, and Social Security number; you must also provide your spouse’s information even if you choose to have someone other than your spouse as a beneficiary.
   • If you are not married; there are certain payment options that you may elect that require you designate a beneficiary. In this case, you would need to provide the beneficiary’s name, date of birth, and Social Security number.

1. A copy of your birth certificate or passport.
2. If you are married, you will need to provide:
   • a copy of your spouse’s birth certificate or passport.
   • a copy of your marriage certificate.
3. If you designate a beneficiary other than your spouse you will also need to provide a copy of your beneficiary’s birth certificate or passport.
4. If you are married, you must, by law, obtain your spouse’s notarized consent to designate someone other than your spouse as your beneficiary.

Don’t Be Afraid to Ask Questions - You may contact the CITGO Benefits Helpline by:

• Phone toll free at 1-888-443-5707
• Email at benefits@citgo.com