2025 Valero Report on Guiding Principles - Flipbook - Page 56
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Financial Well-Being and
Rewards
Attracting and retaining the best people in our industry requires a layered and uniquely personal approach to
昀椀nancial stability. Valero’s compensation and 昀椀nancial wellness strategy greatly supports these objectives, providing
motivation, rewards and investment opportunities for an exceptional workforce.
Generous 401(k) Match — 98.5% of Eligible
U.S. Employees Enrolled in 401(k) Plan in
2024.
Valero is proud to provide an excellent retirement
savings plan that, if utilized to the fullest, helps provide
signi昀椀cant 昀椀nancial security for employees later in life.
For the majority of our U.S. employees, the available
company match under the primary savings plan is up to
7% of eligible pay and vests immediately.
Company-Sponsored Pension Plan
Customized Financial Education & Planning
Educational workshops have been created to assist in
putting personal 昀椀nancial goals within reach. Employees
have regular opportunities to attend free 昀椀nancial
education webinars such as Valero’s Planning for
Retirement and Financial Habits that Matter workshops.
Adoption Assistance
Adopting a child is a life-changing experience for the child
and his/her new family. Valero is proud to support families
by reimbursing a portion of adoption-related expenses.
As an added layer of 昀椀nancial security, the majority
of U.S. employees are automatically enrolled in an
exceptional pension plan after one year of service.
Vesting reaches 100% after three years of service.
Valero employee
dependent
who received
a scholarship.
Congratulations!
Annual Merit and Bonus Awards
The Annual Merit Award process adjusts eligible
employees’ salaries for market competitiveness,
performance and relativity to peers. Managers are
able to ensure equitable pay for all team members.
Discretionary Annual Bonus Awards recognize
employees who contribute to Valero’s success, and
serve as a pathway to review employee performance
over the past year.
Valero Perks at Work
Perks at Work is a discount program that gives access
to exclusive savings on quality of life enhancements
and conveniences such as household items, travel,
electronics and many more.
Employee Tuition Reimbursement
Valero Scholarship Program for Dependents
Each year, a selection of outstanding children of Valero
employees receive a Valero Scholarship, based on
scholastic achievement, community involvement and
leadership qualities. Each recipient receives $2,500 per
year for up to four years of undergraduate studies.
The Valero Educational Assistance Program supports
employees’ continuing education (college or specialized
certi昀椀cations) relevant to professional development.
More than $704,000 was awarded
to employees in 2024 in tuition
reimbursement.
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Since 1981, Valero has awarded more
than 853 scholarships totaling
$7.1 million to employee dependents.
Other
Retiree medical bene昀椀t (subsidized in certain cases);
health savings account contribution; short- and long-term
disability; and 昀椀nancial hardship funds.