New Hire Checklist
The Health & Protection benefits you enroll in will be effective as of your date of hire and remain effective through December 31, 2024, unless you experience a Qualified Status Change.
Here’s a benefits checklist to help you keep everything straight as you enroll in your benefits.
To learn more about your benefits, watch these benefits videos. Note: you may have additional benefits that are not covered in these videos.
Choose coverage for you and your family.
To enroll in your benefits, read below:
If you are a new hire, you’ll need to create a User ID and password the first time you log in. Read the instructions here.
To enroll in your benefits, click Enroll, Review, or Change Benefits button above, and then select Health & Protection Benefits. The. benefits you choose will be in effect from January 1, 2024 through December 31, 2024. For information about what happens if you don’t enroll in your benefits, click here. If you are a new hire, you need to enroll in your benefits within 31 days of your date of hire.
Review the Supplemental Retirement Plan (SRP) and make your elections during the SRP enrollment window. See the SRP page for additional details.
Enroll or waive coverage within 31 days of your date of hire.
Have your dependents’ Social Security numbers on hand.
Enroll in the 401(k).
Confirm your elections
For your Health & Protection benefits, you will automatically receive an email with a link to access your confirmation statement. For the 401(k) Plan, you can print a copy of your confirmation statement. For your SRP benefits, you will automatically receive a confirmation statement mailed to your home address on file for your records. If you find any errors with any of your benefit elections, contact the Baker Hughes Benefits Center immediately.
If you don’t enroll in Baker Hughes benefits
You will be automatically enrolled in the Standard Baker Hughes Medical Plan with Employee Only coverage. The only other coverage you will be enrolled in is Basic Life/AD&D Insurance, Business Travel Accident Insurance, and Disability Protection, depending on your employment status. You will not be able to make changes to your benefits until next year’s Annual Enrollment, unless you experience a Qualified Status Change.
In addition, you will be automatically enrolled in the 401(k) at a pre-tax contribution rate of 3% of your eligible pay, with an automatic increase of 1% annually. You will be invested in a Target Date Fund based on your estimated retirement date.
Finally, you will be automatically enrolled in the SRP and receive an automatic company base (4%) and basic (5%) contributions on eligible income above the IRS compensation limit. You will not defer any pay into the SRP. You will be invested in the Money Market Fund.
