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SUMMARYCAFETERIA BENEFIT PLANEffective January 1, 2021FinalSummary of the Occidental Petroleum Corporation Cafeteria Benefit Plan (Amended and Restated Effective as of January 1, 2021)Revision Date:
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A summary annual report provides a concise overview of a company's financial performance and operations for the year, often including highlights of financial statements and important disclosures.
Companies that are subject to the Employee Retirement Income Security Act (ERISA) and provide employee benefit plans are required to file summary annual reports.
To fill out a summary annual report, companies must gather necessary financial data, including statements of net assets, changes in net assets, and participant data, and complete the required forms according to regulatory guidelines.
The purpose of a summary annual report is to inform plan participants and beneficiaries about the financial status and operations of their employee benefit plans, ensuring transparency and compliance.
The summary annual report must include information such as total assets, benefits paid, contributions received, investment earnings, and any changes in net assets.
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