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Hess Corporation Employees' Pension Plan
The Hess Corporation Employees' Pension Plan originated as the retirement vehicle for U.S. payroll employees of Hess Corporation. Sponsorship traces to the...
Hess Corporation Employees' Pension Plan
The Hess Corporation Employees' Pension Plan originated as the retirement vehicle for U.S. payroll employees of Hess Corporation. Sponsorship traces to the corporation itself, with the Hess family historically tied to governance. Assets consist of a $166 million Single Premium Annuity Contract for the U.S. plan, a $483 million Bulk Annuity Policy for the U.K. plan, and $475 million in commingled funds and limited partnerships. These holdings span hedge funds, private equity, and real estate. The plan maintains signatory status to ISDA protocols through its trust. Fidelity serves as plan administrator and trustee. Ernst & Young acts as independent auditor and Aon provides investment consulting and actuarial services. Prudential supplies annuity coverage. The plan participates in venture capital strategies through its limited partnership allocations. The 2025 acquisition of Hess by Chevron drives the 2026 transition of participants into the Chevron Retirement Plan while preserving service credits. This structure reflects a standard corporate pension wind-down rather than an independent family office or multi-family platform.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Houston
Frequently asked questions
Who administers the Hess Corporation Employees' Pension Plan?
Fidelity Investments serves as plan administrator and trustee. Ernst & Young provides independent audit services. Aon supplies investment consulting and actuarial support.
What is the asset allocation of the Hess Corporation Employees' Pension Plan?
Holdings include a $166 million U.S. annuity contract, a $483 million U.K. annuity policy, and $475 million in commingled funds and limited partnerships across hedge funds, private equity, and real estate.
How does the Chevron acquisition affect the Hess pension plan?
Participants transition to the Chevron Retirement Plan on January 1, 2026. Hess service remains recognized for vesting purposes during the shift.
Does the Hess Corporation Employees' Pension Plan maintain external memberships?
The plan trust is a signatory to ISDA protocols. No other industry association memberships appear in available records.
What service providers support the Hess Corporation Employees' Pension Plan?
Fidelity handles administration and trusteeship. Prudential provides annuity coverage. Additional actuarial and audit roles are filled by Aon and Ernst & Young.
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