The Pension Benefit Guaranty Corporation
Your pension benefits under the Retirement Plan are insured by the Pension Benefit Guaranty Corporation (PBGC). Generally, if a plan terminates (ends) without enough money to pay all benefits, the PBGC will step in to pay pension benefits. Most people receive all of the pension benefits they would have received under a terminated plan, but some people may lose certain benefits.
The PBGC guarantee generally covers:
  • Normal and early retirement benefits;
  • Disability benefits if you become disabled before the pension plan terminates; and
  • Certain benefits for your survivors.
The PBGC generally does not cover:
  • Benefits greater than the maximum guaranteed amount set by law for the year in which the plan terminates; some or all of the benefit increases and new benefits based on plan provisions that have been in place for fewer than five years at the time the plan terminates;
  • Benefits that are not vested because you have not worked long enough for the company;
  • Benefits for which you have not met all of the requirements at the time the plan terminates;
  • Certain early retirement payments (such as supplemental benefits that stop when you become eligible for Social Security) that result in an early retirement monthly benefit greater than your monthly benefit at the plan's normal retirement age; and
  • Non-pension benefits, such as health insurance, life insurance, certain death benefits, vacation pay and severance pay.
Even if certain of your benefits are not guaranteed, you still may receive some of those benefits from the PBGC depending on how much money the plan has and on how much the PBGC collects from employers.
For more information about the PBGC and the benefits it guarantees, contact the PBGC's Technical Assistance Division, 1200 K Street N.W., Suite 930, Washington DC 20005-4026 or call 202-326-4000 (not a toll-free number). TTY/TDD users may call the federal relay service toll-free at 800-877-8339 and ask to be connected to PBGC's website on the Internet at www.pbgc.gov.
Or contact:
Pacific Gas and Electric Company
Benefits Department
1850 Gateway Boulevard, 7th Floor
Concord, CA 94520
External numbers 415-972-7077 or toll-free at 800-700-0057