Page 4 - Hess Pension 2017

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INTRODUCTION
The Hess Corporation Employees’ Pension Plan is designed to provide income at retirement at no cost to you — Hess pays the full cost of the bene t.
If you were hired on or after January 1, 2017, your pension bene t is based on the Cash Accumulation Formula. Under this formula, each month, Hess contributes a de ned amount to an account based on your eligible compensation and guarantees the account will grow by a xed percentage.
When you reach retirement age, you can take the accrued amount either as a lump sum or as an annuity. Similar to the Savings Plan, you can roll your account balance over to another tax-quali ed plan if you leave the company before you’re ready to retire.
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