Terms and Conditions

This communication is for informational purposes only and is not intended to be a legal governing plan document. The benefits described in this communication are provided under retirement plans sponsored by SABIC. SABIC reserves the right to amend these plans or terminate them at any time and from time to time, in accordance with their terms. These plans are complex and subject to many rules, requirements, and limits. The operations of the plans are governed by the official plan documents. To the extent that any information contained in this document or elsewhere, or any information you receive orally, is inconsistent with the official plan documents, the provisions set forth in the official plan documents will govern in all cases. Participants may request a copy of the official plan documents by contacting the Plan Administrator.

Before investing in any investment option, consider the investment objectives, risks, charges and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus. Read it carefully.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.

Fidelity Brokerage Services LLC, member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
© 2018 FMR LLC. All rights reserved.

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Learn more about the retirement program changes.

Overview

SABIC is proud to support employees with a comprehensive benefits program that promotes retirement security with smart, sustainable investments. To continue our strong commitment, we are making some changes to the retirement program. These changes will allow for a simplified, market-competitive retirement program that gives you more control to manage to your retirement savings goals.

Starting January 1, 2020, all employees will participate in a consistent company match and contribution arrangement in the SABIC U.S. Employee Retirement Savings Plan (the “Retirement Savings Plan”). This contribution structure includes a 50% company match on your contributions, up to the first 8% you contribute, along with an automatic 5% contribution from SABIC that is made regardless of your participation level. In addition, for those employees eligible for the SABIC Innovative Plastics Pension Plan (the “Pension Plan”), benefits would no longer accrue in that plan after December 31, 2019 – this is commonly known as a “plan freeze.”

If you were hired on or after January 1, 2014, you are already eligible for this contribution structure in the Retirement Savings Plan. Therefore these changes would not affect you.

Explore this website to learn more about the changes and the resources available to you.


Retirement Program Change Highlights

Key Changes


On December 31, 2019, the Pension Plan will freeze, meaning this plan will remain in place but participants cease accruing benefits as of that date.
Starting January 1, 2020, all employees will participate under the same contribution structure in the Retirement Savings Plan.
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Starting on January 1, 2020, you may be eligible to receive Special Transition Credits for up to seven years.
(800) 395-4340

Timeline

Now
Carefully read the letter being mailed to your home in early December and the information on this website
Early 2019
Attend a conference call or an in-person employee meeting at a location near you. Check back in 2019 for more details!
January 1, 2020
New retirement program provisions scheduled to begin
Early 2020
Check out your personalized retirement statement that will be mailed to your home

Timeline

Now
Carefully read the letter being mailed to your home in early December and the information on this website
Early 2019
Attend a conference call or an in-person employee meeting at a location near you. Check back in 2019 for more details!
January 1, 2020
New retirement program provisions scheduled to begin
Early 2020
Check out your personalized retirement statement that will be mailed to your home

Questions?

Review the 385-522-9496 or call the SABIC Benefits Service Center at 877-SABIC-US (877-722-4287) to speak with a representative. Representatives are available from 8:00 AM to 8:00 PM ET, Monday – Friday (excluding most New York Stock Exchange holidays).