Life Insurance
The basic amount of Postretirement Life Insurance coverage for Union-Represented employees who retire is $8,000. For Management and Administrative & Technical (A&T) Employees, the amount of your Postretirement Life Insurance coverage depends upon when you were hired or promoted into a Management or A&T position and how many years of credited service you had when you retired.
  • Management and A&T employees who were hired or promoted into a Management or A&T position prior to January 1, 1986, and who retired with 15 or more years of credited service—Coverage is equal to the last 12 months of base salary prior to retirement. If your Postretirement Life Insurance benefit exceeds $50,000, you may elect to limit your coverage to $50,000 in order to avoid paying imputed income tax (see "Imputed Income from Your Life Insurance Coverage").
  • Management and A&T employees who were hired or promoted into a Management or A&T position on or after January 1, 1986, and who retired with 15 or more years of credited service—Coverage is equal to the lesser of your last 12 months of base salary prior to retirement to a maximum of $50,000.
  • Management and A&T employees who retired with less than 15 years of credited service—your Postretirement Life Insurance amount is $8,000.
Service
For active employees of PG&E Corporation on or after April 1, 2007 – service, for the purposes of eligibility and amount of benefit, will be based on your original date of hire with PG&E Corporation and combined Utility and Corporation service. (Service with a designated subsidiary of PG&E Corporation will be considered as well as service credited under the Retirement Plan break in service rules.)