Here’s a snapshot of PG&E’s 401(k) Retirement Savings Plan (RSP).
Most Union-represented, Management, A&T and PG&E Corporation employees are eligible to participate in the 401(k) plan.
Ineligible employees include Hiring Hall, Temporary Additional, Outage, Intermittent, contract employees and leased employees. For details, see your Summary of Benefits Handbook at spd.mypgebenefits.com.
As soon as you’re hired, you can enroll and start making contributions.
You can change, stop or re-start your contributions at any time.
For 2021, the IRS 401(k) contribution limit is $19,500. If you're age 50 or older, you may make an additional $6,500 catch-up 401(k) contribution (for an annual total of $26,000). Your contribution percentage and company matching contributions depend on your pension formula and whether you’re in a Union-represented position.
Learn how you can Maximize your Retirement Savings with an After-tax 401(k).
You’re immediately 100% vested in the value of your 401(k) account including all company matching contributions.
You can choose from a wide variety of investment funds, and you can change your investments anytime.
You have a choice of accessing free online investment advice or fee-based professional management services at a reduced corporate rate through Edelman Financial Engines®.
The value of your 401(k) account fluctuates with investment returns.
Your 401(k) balance is portable. If you leave PG&E, you can take your 401(k) balance as a lump sum that you can roll over to an IRA or other tax-qualified employer plan—or you can keep your account in the PG&E plan if your account balance is greater than $5,000.
You can access your account anywhere, anytime, by logging in to your NetBenefits account at 401k.com or through Fidelity’s NetBenefits mobile app.