Retirement Plans at a Glance
The Company offers three benefit plans that help you plan and save for your financial security during your retirement:
  • The Pacific Gas and Electric Company Retirement Plan
    • The Retirement Plan is a "defined benefit" pension plan, which provides eligible participants with a fixed pension benefit that is based on a defined formula.
    • When you retire, for employees participating in the final pay pension benefit under the Retirement Plan, the Retirement Plan will pay you a monthly income based on your years and months of credited service and your pay. For employees participating in the cash balance benefit, the Retirement Plan will pay you the accrued value of your cash balance account, either in the form of a monthly pension benefit or as a lump sum.
      • The benefit does not increase with inflation or otherwise over time.
      • At retirement, you may also elect a pension payment option which will continue payments to your spouse or another named beneficiary after your death. Your pension payment option and your named beneficiary can't be changed once you begin receiving your monthly pension.
  • The PG&E Corporation Retirement Savings Plan for Union-Represented Employees and The PG&E Corporation Retirement Savings Plan (for Management and Administrative & Technical Employees)
    • The Retirement Savings Plans are "defined contribution" plans, commonly referred to as 401(k) plans. Eligible participants who contribute to the plans may receive Company contributions based on a defined matching contribution schedule.
    • Your benefit varies with the amount of personal and Company contributions made to the plan as well as investment gains and losses on these contributions.
    • If you maintain an account balance in a Retirement Savings Plan (RSP), as a retiree, the Company provides you access to Financial Engines — an unbiased, independent advisory firm offering RSP participants support and assistance in making RSP investment and plan distribution decisions.