What You and Your Survivors START Need to Know and...

Preparing for the Unexpected: What You and Your Survivors Need to Know and Do

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> Employees: What to Do Ahead of Time

> Survivors: What to Do When Your Loved One Dies

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Introduction

The loss of a loved one is always hard. To make sure your family is prepared to make critical decisions and take appropriate action in the event of your death, it’s important to plan ahead. The information in this guide outlines important issues for you and your family to consider, so that you can make informed decisions about your Phillips 66 benefits and other financial and administrative matters.

NAVIGATING THIS GUIDE

If you’re a Phillips 66 employee, take some time to review Employees: What to Do Ahead of Time to see what actions to take to make it easier for your survivors should something unexpected happen to you.

If you’re the survivor of a Phillips 66 employee or an employee that has lost a dependent, be sure to review Survivors: What to Do When Your Loved One Dies to see what actions to take after you have lost your loved one.

IMPORTANT!

Please note that the content presented in this guide does not take the place of financial, tax or legal advice. You should seek assistance from qualified individuals before making decisions about your personal affairs.



PREPARE A LETTER OF INSTRUCTION

A “letter of instruction” is a document that informs your survivors where to find important documents and what actions to take in the event of your death. Your letter of instruction should include guidance on most if not all of the steps outlined in the following pages.

Make sure your family and/or the executor of your estate knows where this document can be found.

MAKE SURE YOUR FINANCES ARE IN ORDER

Your letter of instruction should include your preferences regarding your finances, assets and debt.

Assets can include:

■■ Cash and other forms of income: – Checking, savings, money market and brokerage accounts (for each account, provide name of institution, address, telephone number, account number, online password and location of records)

– Pension benefits – Disability benefits – Social Security benefits – Military service benefits (list military service number, branch, service dates)

– 401(k) – IRAs – Stocks, bonds, mutual funds – Annuities – Life insurance

Employees: What to Do Ahead of Time

■■ Real estate — identify location of any titles/deeds/forms establishing ownership and property addresses

■■ Airline mileage accounts

■■ Other assets (inventory and documents establishing ownership of other possessions, such as cars, boats, jewelry and other valuables)

■■ Loans or accounts payable to you and/or your spouse (for each debtor, list name, address, telephone number, amount due and location of records)

Debt can include money owed on:

■■ Mortgages (for each mortgage, provide name of lending institution, address, telephone number, account number)

■■ Loans and IOUs (for each lender, list name, address, telephone number, amount due and location of records)

■■ Credit cards (for each card, provide name of institution, address, telephone number, account number)

■■ Other forms of debt (e.g., money owed to doctors, hospitals and other health care providers)


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COMPILE CONTACT INFORMATION

You’ll also need to compile a list of important contacts, providing phone numbers, addresses, email information for individuals and institutions that would have a need to be informed about your death:

■■ Spouse/domestic partner

■■ Members of your immediate family

■■ Close friends

■■ Colleagues

■■ Phillips 66 Benefits Center

■■ Previous employers

■■ Attorney

■■ Tax advisor

■■ Stockbroker

■■ Agents for life, disability, home and auto insurance

■■ Labor union

■■ Clergy and faith-based organizations

■■ Club memberships

■■ Educational institutions

■■ Banks

■■ Mortgage companies

■■ Credit union

■■ Credit card companies

■■ Other debtors or creditors, as applicable

IDENTIFY KEY PERSONAL DOCUMENTS/ITEMS AND WHERE THEY ARE STORED

Make a list identifying the location of important personal documents and items, such as:

■■ Birth and marriage certificates

■■ Estate planning documents (Wills, Trust paperwork)

■■ Citizenship papers

■■ Divorce/separation documents

■■ Social Security card

■■ Medicare information

■■ Adoption papers

■■ Driver's license

■■ Military records

■■ Income tax records

■■ Certificates of automobile ownership and auto insurance policies

■■ Passport

■■ House and vehicle keys

■■ Safe deposit box (include details of bank, branch and address)

Employees: What to Do Ahead of Time (continued)

IMPORTANT!

Please make sure to update your Emergency Contact information. Go to My HR Tools, select My Profile from the Home drop down menu, scroll down to the Contact Information portlet, then click the pencil icon next to Emergency Contact to provide primary and secondary contact information. To access My HR Tools from home, visit hr.phillips66.com > Resources > Employee Self-Service.

https://mytools.ephillips66.com/app/successfactors/exkj0oovhlgkn9WMI356/sso/saml

http://hr.phillips66.com


COMPILE A LIST OF PASSWORDS/CODES

Your executor will also need to know your passwords and codes for items such as:

■ Phillips 66 Benefits Center

■ Computer

■ Online accounts (e.g., banking, investment, insurance accounts, social media, shopping, utilities, credit cards, etc.)

■ House alarm

■ Smart phone

■ Voicemail

COMPILE MEDICAL INFORMATION

Medical information your loved ones may need:

■ Contact information for doctors and other health care professionals

■ Addresses and phone numbers of preferred hospitals

■ Medicare and Medicaid information

■ Medical and prescription ID cards

■ Health care proxies, living will, power of attorney, advance health care directive, Do Not Resuscitate (DNR) instructions

■ Uniform Donor Card (UDC), which specifies if you’ve made a tissue donation, organ donation, or donation of your entire body to medical science

AYCO’s TransitionalSupport™ Financial Counseling Service may be available to eligible employees, spouses and/or domestic partners with a life expectancy of less than 24 months. Contact the Benefits Center for additional information.

MAKE SURE BENEFICIARY INFORMATION IS CURRENT

To ensure your assets go to the people intended to receive them, review and, if needed, update your beneficiary information for the following:

■ Any life and accidental death and dismemberment (AD&D) insurance policies in place with the company or other agencies (e.g., State Farm, Gerber, Mutual of Omaha)

■ Savings and pension plans with the company: – Phillips 66 Savings Plan – Phillips 66 Cash Balance Account – Phillips Retirement Income Plan – Tosco Pension Plan – Alliance Refinery Cash Balance Formula – Retirement Plan of Conoco – Burlington Resources Inc. Pension Plan-Final Average Earnings – Burlington Resources Inc. Pension Plan-Cash Balance

■ Health Savings Account (HSA)

■ Savings and pension plans with other employers

Be aware that if your designated beneficiary(ies) pre-deceases you, and you have not updated your beneficiary information, the proceeds may enter probate and be subject to estate and inheritance tax.

Be sure to review your beneficiary information after any life event to ensure your wishes are kept current.




Two documents that you’ll need to know about are:

■■ Advance directives: An “advance directive,” also known as a “living will,” enables you to direct family members on what type of care you do or don’t want to receive (for example, ventilator breathing and feeding tubes) should you become terminally ill or permanently unconscious. Generally, an advance directive may also serve as a “durable power of attorney.”

■■ Durable power of attorney: A “durable power of attorney,” also known as a “health care proxy,” enables you to designate a surrogate — a person who will make health care treatment decisions on your behalf — if you become unable to make these decisions.

If you’ve had either or both of these documents prepared, you or your family should inform your physician and other medical professionals attending to your care. For more information, see Establish a durable power of attorney and advance directive.

INFORM YOUR FAMILY ABOUT ANY DO NOT RESUSCITATE (DNR) ORDER ON RECORD

If you have a catastrophic health condition and are admitted to a hospital or hospice, you or your family may be asked to sign a Do Not Resuscitate (DNR) order, which provides the facility’s staff with instructions not to perform any extreme life-saving measures. Make sure you take time to discuss with your family your personal wishes concerning a DNR order. This decision should also be documented within your advance directive.

UPDATE YOUR BENEFICIARY(IES) FOR PHILLIPS 66 PLANS

For Phillips 66 Pension, Life, AD&D and Occupational Accidental Death (OAD) Plans, visit My HR Tools and click on the UPoint tile or call the Benefits Center at 800-965-4421 or 646-254-3467 weekdays from 8:00 a.m. to 6:00 p.m. CT.

For the Phillips 66 Savings Plan, visit My HR Tools and click on the Vanguard tile. You may also access vanguard.com or contact Vanguard Participant Services at 800-523-1188 weekdays from 7:30 a.m. to 8:00 p.m. CT. To access My HR Tools from home, visit hr.phillips66.com > Resources > Employee Self-Service.

For your Bank of America Health Savings Account (HSA), go online to https://myhealth.bankofamerica.com or call 877-785-6698.



DISCUSS YOUR WISHES REGARDING END-OF-LIFE CARE WITH YOUR FAMILY AND, IF APPLICABLE, YOUR PHYSICIAN

You may think that discussing end-of-life care with your family is important only when you’re terminally ill or elderly. However, it’s a good idea to have this discussion beforehand so that your loved ones are clear about your wishes should you become mentally or physically incapacitated.



http://www.vanguard.com


https://myhealth.bankofamerica.com


DOCUMENT FUNERAL ARRANGEMENT WISHES

It’s also important to record your wishes regarding a funeral or memorial (a service honoring the deceased) and the final disposition of your body.

Planning your funeral in advance will help you decide on final arrangements that are right for your preferences and budget. In addition, you’ll keep your family from having to make what can be expensive financial decisions during a very emotional and difficult time.

FUNERAL PLANNING TOOLS

Phillips 66 offers access to a nationwide funeral planning and concierge service through Zurich — provided by Everest. This tool offers assistance with funeral-related issues, price comparisons on funeral homes, and other planning tools to help you document your wishes regarding funeral plans.

To access Everest resources, go to: everestfuneral.com/enroll and enter your email address and Code: ZURICH100

If you do not have access to a computer, call 800-913-8318.



http://everestfuneral.com/enroll


ESTABLISH A DURABLE POWER OF ATTORNEY AND ADVANCE DIRECTIVE

When you assign an individual power of attorney, you give that person (usually referred to as an “agent” or “attorney-in-fact”) the authority to act for you. When you’ve assigned a “durable” power of attorney, your agent can act on your behalf, even when you become incapacitated, or otherwise unable to administer your affairs. It is effective immediately, and remains in place until it is revoked by you or you die.

In general, a durable power of attorney grants your agent the authority to act for you in legal and business matters. To give an individual the ability to make health care-related decisions on your behalf, you’ll need a medical durable power of attorney and an advance medical directive (a document that enables you to convey your decisions about end-of-life care).

Medical durable powers of attorney and advance medical directives serve a vital purpose, as they allow you to appoint someone to express your wishes about the type and extent of health care you wish to receive should you become seriously ill or injured and cannot speak for yourself.

Because laws governing medical powers of attorney and advance directives may vary from state to state, it’s important that you work with an attorney if you are interested in establishing either of these legal documents for yourself.


IDENTIFY A CONSERVATOR AND EXECUTOR OF YOUR ESTATE

To ensure that any estate management issues are handled smoothly and without delay, you may also wish to pre-designate:

■■ A “conservator” of your estate — an individual given the right to manage your money and assets if you become incapacitated; or

■■ An “executor” of your estate — an individual appointed to administer your estate after your death.

CHECKLIST

Prepare a letter of instruction

Make sure your finances are in order

Compile contact information

Identify key personal documents/items and where they are stored

Compile a list of passwords/codes

Compile medical information

Make sure beneficiary information is current

Discuss your wishes regarding end-of-life care with your family and, if applicable, your physician

Inform your family about any Do Not Resuscitate (DNR) order on record

Document funeral arrangement wishes

Prepare a will/estate plan

Establish a durable power of attorney and advance directive

Identify a conservator and executor of your estate



Survivors: What to Do When Your Loved One Dies

As a survivor or as an employee that has lost a dependent, you’ll have several decisions to make after you’ve lost a loved one. This section summarizes what you’ll need to know and do.

■■ Credit union

■■ Credit card companies

■■ Other debtors or creditors, as applicable

Your loved one’s letter of instruction should provide contact information for these institutions to make this notification process easier for you.

KEY CONTACTS

You’ll need to contact the deceased’s:

■■ Immediate family

■■ Close friends

■■ Colleagues

■■ Phillips 66 Benefits Center (see Notify the Phillips 66 Benefits Center for details)

■■ Past employers

■■ Attorney

■■ Tax advisor

■■ Stockbroker

■■ Insurance agent

■■ Clergy and faith-based organizations

■■ Club memberships

■■ Educational institutions

■■ Social Security Administration

■■ Veterans Administration

■■ Department of Motor Vehicles

■■ Home and auto insurance company

■■ Labor union

■■ Life insurance companies

■■ Banks

■■ Mortgage companies

ACCESS FREE COUNSELING SERVICES THROUGH THE EMPLOYEE ASSISTANCE PROGRAM (EAP)

The Phillips 66 EAP provides five free professional counseling sessions per person, per problem, per year for grief, loss, anxiety and stress, at no cost to Phillips 66 employees and their eligible dependents. Contact Resources for Living at 844-766-7351.


https://www.resourcesforliving.com/login.aspx


IDENTIFY READILY AVAILABLE CASH FOR EXPENSES

It’s important to identify cash readily available for expenses, such as:

■■ Funeral arrangements

■■ Mortgage

■■ Utilities

■■ Estate fees (for example, attorney and court fees)

■■ Federal, state and local: – Income tax – Estate tax – Income tax on the estate, if applicable

■■ Outstanding medical expenses incurred by the deceased

Deadlines for some of these expenses may be inflexible, so it’s important for you to be prepared to handle upcoming out-of-pocket costs.

LOCATE DOCUMENTS IMPORTANT TO THE DECEASED’S ESTATE

You’ll need to locate and secure important documents, such as:

■■ The deceased’s letter of instruction, will and estate plan

■■ Certified copies of death certificate (a certified copy may be required for claiming assets such as life insurance benefits, savings and retirement plan benefits)

■■ Life insurance policies

FUNERAL ARRANGEMENTS

You’ll need to make arrangements for your loved one’s funeral or memorial service and final disposition of body. Ideally, you’ll have a letter of instruction to guide you regarding your loved one’s wishes.

NOTIFY THE PHILLIPS 66 BENEFITS CENTER

You’ll need to report the death to the Phillips 66 Benefits Center at 800-965-4421 or 646-254-3467.

The Benefits Center will:

■■ Gather important information, such as the deceased’s date of death, living relatives and contact information.

■■ Assign the case to a Life Benefits Specialist (LBS), who can answer questions about survivor benefits.

■■ Notify the insurance carriers of your loved one’s death. Once the carriers have been notified, the beneficiary(ies) on file will receive survivor benefit information. The beneficiary(ies) will need to complete and return any necessary forms to the insurance carriers.

■■ Initiate Ayco Survivor Support services if requested (see Access Ayco Survivor Support for details).

Survivors: What to Do When Your Loved One Dies (continued)


CERTIFIED DEATH CERTIFICATES

The Benefits Center, former employers, insurance companies, financial institutions and other entities providing beneficiary benefits may request that you mail them a certified death certificate, so be sure to have several copies on hand.


MAKE DECISIONS REGARDING PHILLIPS 66 BENEFITS

There are several actions you and your family need to take regarding company benefits. Please note that some benefits shown below may not apply to you.

Here’s a brief summary of what needs to be done … and when:

BENEFITS WHAT YOU NEED TO KNOW TIMING WHAT YOU NEED TO DO FOR MORE INFORMATION

COBRA The Benefits Center will send enrollment materials and rate information to eligible dependents.

Mailed within 3 – 5 business days.

Eligible dependents less than age 65 should review materials and enroll in survivor benefits online or with the Benefits Center within 65 days.

Benefits Center: 800-965-4421

Retiree Medical and Prescription Drug Coverage

The Benefits Center will send enrollment materials and rate information to eligible dependents under age 65.


Eligible dependents less than age 65 should review materials and enroll in survivor benefits online or with the Benefits Center within 30 days.


Health Savings Account (HSA)

Unless indicated otherwise by beneficiary designation forms, HSAs may remain open and transfer to a surviving spouse.

The Phillips 66 affiliated HSA will be closed and an individual Bank of America HSA account will automatically be opened for the deceased employee within 30 days, with funds transferring to the new account.

Surviving spouse should contact Bank of America to request account transfer to his/her name. Spouse may also open an HSA with another financial institution and request funds be transferred there.

If there is no surviving spouse, or there is a designated beneficiary the HSA funds will go to the beneficiary or the estate.

For HSA inquiries after account transfer — Bank of America 877-785-6698



(continued)


BENEFITS WHAT YOU NEED TO KNOW TIMING WHAT YOU NEED TO DO FOR MORE INFORMATION

Flexible Spending Account (FSA)■■ Health Care Flexible Spending Account (HCFSA)

■■ Dependent Care Flexible Spending Account (DCFSA)

If funds remain, surviving dependents must submit proof they are executor of the estate in order to submit claims against remaining balance.

Claims must be filed against remaining balance by March 31 of the following year.

Eligible dependent should contact the Benefits Center with any questions about account balance or filing claims.


Phillips 66 Pension Plan

The Benefits Center will send a kit of materials to eligible survivor/beneficiary.


Eligible survivor/beneficiary should review materials and make elections with the Benefits Center.


Phillips 66 Savings Plan

If an account exists, Vanguard will send a Savings Plan claim to the beneficiary.

Mailed within 14 business days.

Beneficiary should review materials and contact Vanguard with any questions regarding plan information.

Vanguard: 800-523-1188

Life Insurance*■■ Basic■■ Supplemental ■■ Spouse Life■■ Child Life■■ Accidental Death and Dismemberment (AD&D)

Zurich will send a claim packet to the beneficiary(ies).


Beneficiary(ies) should review materials and contact Zurich with any questions regarding the claims process.

Zurich: 800-206-8826

Life Insurance*■■ Occupational Accidental Death (OAD)

Contact the Claims Administrator, Manager, Total Rewards to file a claim.

Manager, HR Operations: 918-977-6009



* Note: Only if there is a life insurance benefit payable and the funeral home will allow an assignment of life insurance proceeds. Please contact the life insurance carrier for assistance with this process.


ACCESSING YOUR PHILLIPS 66 BENEFIT INFORMATION

As a survivor of a Phillips 66 employee, if you’re eligible for Phillips 66 medical and prescription coverage and/or you’re entitled to pension benefits from the company, you’ll have your own account for the Benefits Center. After you’ve provided notification of your loved one’s death, the Benefits Center will send you, within five business days, a temporary password to use for accessing your account information through the UPoint website or by phone.




ACCESS AYCO SURVIVOR SUPPORT

Ayco’s SurvivorSupport® Financial Counseling Service is a personalized and comprehensive financial counseling service. The cost of this service is paid for by Phillips 66. Participation is entirely voluntary.

As a general rule, if you request Ayco services:

■■ Ayco will call you within five business days of the initial notification of death.

■■ Initially, you’ll have a counseling session with an experienced Ayco professional, who will review your financial position, help establish objectives and priorities, and assist you in making decisions in your best interest.

For more information about Ayco, contact the Benefits Center.

SECURE THE DECEASED’S HOME

You may need to secure the deceased’s home, if he or she lived alone.

ARRANGE CHILDCARE OR ELDER CARE FOR THE DECEASED’S DEPENDENTS

If the deceased had children under the age of 18 and/or was caring for elderly or other family members, you may need to arrange for childcare or elder care for these individuals.

MAKE ARRANGEMENTS FOR PETS, IF ANY

If your loved one left pets behind, you may need to make arrangements for their care and housing (both temporary and permanent).

UPDATE TAX WITHHOLDING INFORMATION

If the deceased is listed as a dependent on your W-4 form, you will need to update your withholding information.

SURVIVORS’ CHECKLIST

Key contacts

Identify readily available cash for expenses

Locate documents important to the deceased’s estate

Funeral arrangements

Notify the Phillips 66 Benefits Center

Make decisions regarding Phillips 66 benefits

Access Ayco Survivor Support

Secure the deceased’s home

Arrange childcare or elder care for the deceased’s dependents

Make arrangements for pets, if any

Update tax withholding information



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Phillips 66 Resources for Employees and Survivors

RESOURCE CONTACT INFORMATION

Phillips 66 Benefits Center My HR Tools and click on the UPoint tile, or from home via hr.phillips66.com (Resources > Employee Self-Service), or directly at digital.alight.com/phillips66

Benefits Center at 800-965-4421

646-254-3467 (for international callers)

Resources for Living To learn more about resources for daily living including emotional support, legal, financial and daily life assistance, view this brochure.

844-766-7351

resourcesforliving.comUsername: Phillips66; Password: RFL

Ayco Survivor Support Financial Counseling Service Benefits Center at 800-965-4421

Zurich — Funeral Planning Tools everestfuneral.com/enroll — Code: ZURICH100

Vanguard 800-523-1188 weekdays from 7:30 a.m. to 8:00 p.m. CT

vanguard.com

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This communication may contain information regarding certain Phillips 66 compensation & benefits. The summary plan descriptions for the various benefit plans and other relevant terms and conditions provide more detailed information. Receipt of this communication does not guarantee eligibility for benefits or any other form of compensation. Phillips 66 reserves the right to correct any errors. If the information provided by this communication conflicts with the plan documents, the plan documents will prevail. Phillips 66 also reserves the right to amend, change or terminate its plans, any underlying contract or any other policy or program, at any time without notice, at its sole discretion. This communication applies only to non-represented employees, as well as represented employees where provided for under the terms of an applicable collective bargaining agreement.



http://digital.alight.com/phillips66

http://hrcpdocctr.phillips66.com/HR_P66_Comm/Benefits/Resourcesforlivingprogram.pdf

http://resourcesforliving.com

http://everestfuneral.com/enroll

http://www.vanguard.com

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