If You Leave PG&E or Retire
If you terminate your employment with PG&E, you may no longer contribute to the Plan, except for contributions made with respect to retroactive wage payments. You may elect full distribution of your account after your employment ends. You may elect to:
  • leave assets in the Plan (subject to minimum account distributions and potential ongoing administrative fees);
  • rollover account balance to an IRA or another employer's plan; or
  • take a distribution (subject to taxes and penalties).
See "Distributions After Your Employment Has Ended", and "Taxes and Penalties" for additional information.
Administrative Fees
If your employment ends before reaching retirement age (age 55), and you elect to maintain your balance in the Plan, your Plan account will be assessed an administrative fee for the maintenance of your account. This administrative fee does not apply to employees or retirees (employees who are age 55 or older when employment ends). See "Fees and Expenses" for more information.
You may make direct payments or elect EFT service to repay any outstanding loan balance to Fidelity. The loan will default if a loan payment is not made within 60 days of the date it is due. Defaulted loans are treated as plan distributions and are subject to ordinary income taxes. Early distribution penalty taxes may also apply. You cannot take out a new loan once your employment with PG&E ends.