ESG Report - Report - Page 63
STRATEGY
LOW-CARBON
Valero Three Rivers Refinery.
ENVIRONMENT
COMMUNITY
Valero Renewable Diesel
Plant in Port Arthur, Texas.
Company-Sponsored Pension Plan
As an added layer of financial 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.
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
SAFETY
More than $872,000
was awarded to
employees in 2022.
The Valero Educational
Assistance Program
supports employees’ continuing education (college
or specialized certifications) relevant to professional
development. Upon approval, the program can provide
up to $10,000 per employee annually for tuition, fees
and books.
Customized Financial
Education & Planning
PEOPLE
GOVERNANCE
Employees who were recruited
from the Valero Intern Program.
More than 1,300 hours
of financial education
were attended by
employees in 2022.
Educational workshops
have been created to
assist in putting personal
financial goals within reach. Employees have regular
opportunities to attend free financial 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.
Valero Scholarship
Program for Dependents
Since 1981, Valero
has awarded 791
scholarships to
employee dependents
totaling $6.6 million.
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.
Other: Retiree medical benefit (subsidized in certain
cases); health savings account contribution; short- and
long-term disability; and financial hardship funds.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT •
63
