Plan Amendment and Termination
"Company" Defined
Throughout this section, unless otherwise stated, reference to "Company" or "PG&E" means Pacific Gas and Electric Company. The plans and benefits described in this handbook are also applicable to employees who terminate at or after age 55 ("retirees") of PG&E Corporation and its designated subsidiaries, but only to the extent that such entities are participating employers with respect to the described plans or programs and such retirees meet the eligibility requirements of the plans or programs.
The Company, acting through its authorized representatives, reserves the right to amend or terminate any or all of the plans described in this Handbook at any time and for any reason, or to suspend contributions to the plans, in whole or in part, at any time, subject to any applicable collective bargaining agreements.
Any change to the plans or the termination of any plans will not affect the benefits payable to plan members before the date the plan was changed or ended, but such change may result in reduced levels of benefits or benefit coverage, or higher levels of employee contributions, after the effective date of any such change.
In the event that the Company terminates a plan for any reason without replacing it, you will be given notice.
The plans may also be terminated by judicial action if the Company is bankrupt or insolvent, or upon complete dissolution, merger, consolidation or reorganization without provision by a successor-company for continuation of the plans.