Pension Checks
Your first pension check is payable on the first day of the month of your retirement. In subsequent months, the check is payable on the first of each month. If the first of the month falls on a weekend or holiday, your pension check will be issued on the first business day of the month. If you do not receive your pension check by the fifth working day of the month, contact the Payroll Service Center Helpline at 415-973-3767.
You may elect to receive a one-time distribution of your entire Cash Balance Pension account at any time following retirement or termination of employment. The lump-sum payment is equal to the balance of your cash balance account after final pay and interest credits are applied. There is no reduction for early retirement. The distribution is taxable and early withdrawal penalties may apply if you take a distribution before retirement age. If you roll over your account directly to an IRA or another qualified retirement plan, you will be taxed only when you actually receive the money.
If your bank is a member of the Automated Clearing House, you may elect to have your check deposited directly into your bank account. To request a Direct Deposit Authorization form or to change or cancel your direct deposit, contact the PG&E Benefits Service Center at 866-271-8144 (open weekdays from 7:30 a.m. to 5 p.m. Pacific time) or Payroll Service Center at 415-973-3767. You can also elect direct deposit through the PG&E Internet portal at https://myportal.pge.com.
Withholding Requests
The following can be deducted from your pension check:
  • Federal income tax
  • State income tax
  • Company medical plan premiums
  • Contributions to the Political Action Committee
  • Campaign for the Community contributions
  • Certain types of garnishments, if applicable to you
Income Tax Withholding
You must have forms on file with PG&E Payroll indicating whether you want income taxes withheld from your pension checks. Form W-4P, the federal withholding certificate, and Form DE-4P, the state withholding certificate, are available from the IRS and the California Employment Development Department, respectively. You may also get copies from the PG&E Benefits Service Center or from Payroll. Completed forms should be sent to:
Accounting Services — Pension Payroll
Mail Code B6B
P.O. Box 770000
San Francisco, CA 94177
You can also enter or update your tax withholding information through the PG&E Internet portal at https://myportal.pge.com.
Each January, you will receive Form 1099-R, the Statement of Annuities, Pensions or Retired Pay, which indicates your total pension payments for the previous year as well as any taxes withheld. If you do not receive this form by February 10, notify the Payroll Service Center at 415-973-3767.
Change of Address
It is your responsibility to keep PG&E informed of your current address. If you want to change your address, you must call the PG&E Benefits Service Center at 866-271-8144 (open weekdays from 7:30 a.m. to 5 p.m. Pacific time). You can also update your home address through the PG&E Internet portal at https://myportal.pge.com.
PG&E Benefits Service Center Representatives are available to assist you Monday through Friday, 8:30 a.m. to 4:30 p.m. Pacific Standard Time, on regular PG&E business days.