Retirement Plan
The Pacific Gas and Electric Company Retirement Plan provides eligible participants with a fixed monthly benefit that offers a source of steady income during retirement. It's important for you to understand how the Plan works and what kind of income you can expect from it so that you can begin planning for your retirement now. Your own savings, plus the benefits available to you from the Retirement Plan and Social Security, all contribute to your future financial status.
Plan Documents and Administration
The plan document for The Pacific Gas and Electric Company Retirement Plan contains the detailed provisions of the Plan. If a conflict exists between this Plan document and the portions of this Summary of Benefit Handbook or any other communications or documents, the terms of the Plan document shall govern the operation of the Plan.
The Employee Benefit Committee of PG&E Corporation is the Plan Administrator and has the discretionary authority to interpret and construe the terms of the Plan, to resolve any conflicts or discrepancies between documents and to establish rules which are necessary or desirable for the administration of the Plan.
Ready to Retire?
You must request a Retirement Package in writing at least 90 days before the date on which you want to retire. Your completed paperwork must be received by the PG&E Benefits Service Center at least 30 days prior to your retirement date. If you have questions about initiating your retirement request, you can contact the PG&E Benefits Service Center at 866-271-8144 (open weekdays from 7:30 a.m. to 5 p.m. Pacific time). See "Payment Options" for more information.
Be sure to notify your supervisor of your retirement so your last paycheck will be processed in a timely manner.
If you are divorced, you may need to obtain a Qualified Domestic Relations Order (QDRO) to divide your pension benefit with a former spouse. See "If You Get Divorced" for more information, including important details about submitting your retirement paperwork if you are divorced but do not have a QDRO.