Retirement Home

Beneficiary Updates

You’ll need to elect and update beneficiaries for the following benefits. These are all separate elections. Your beneficiary elections for one benefit won’t carry over to another benefit.

Review your beneficiary designations whenever you experience a significant life event like marriage, divorce or the death of a previously designated beneficiary.

Pension

Pension Pre-Retirement Beneficiary Designation

Did you know? Any vested benefit you have under the PG&E Retirement Plan will be forfeited if:

  • You die before you start taking your pension benefit, and
  • You’re single or in a domestic partnership, and
  • You haven’t elected your pre-retirement pension beneficiary.

Once vested, the Retirement Pension Plan will pay you a fixed pension benefit after you stop working for PG&E. If you pass prior to retiring or beginning your pension benefit in retirement, you can designate a beneficiary to receive your benefit per plan provisions.

You can allocate different percentages to multiple contingent beneficiaries:

  • If you die before your pension starts, your pre-retirement primary pension beneficiary will get a benefit.
  • If both you and your pre-retirement primary pension beneficiary die before your pension starts, your contingent beneficiaries will get a benefit.

To update your Pension Pre-Retirement beneficiary designation, log in to PG&E’s PensionConnect.

Postponing your pension payments?

Make sure your pre-retirement pension beneficiaries are up to date.

Your pre-retirement pension beneficiary elections will not carry over to your post-retirement pension beneficiary elections. You’ll be able to choose a pension beneficiary as part of the pension election process when you’re ready to start your pension.

To update your Pension Pre-Retirement beneficiary designation, log in to PG&E’s PensionConnect.

At work, go to PG&E@Work for Me and click About Me > My Retirement > PG&E PensionConnect. You’ll be automatically logged in to your account.

From any computer or mobile device, log in to your account at myPensionConnect.com.

OR Call 1-800-700-0057

401(k)

You can change your 401(k) beneficiary anytime. Log in to your NetBenefits account at 401k.com and go to Profile > Beneficiaries, or call Fidelity at 1-877-743-4015.

Life Insurance

Be sure to update your beneficiary designation for postretirement life insurance when you retire. You can update your postretirement life insurance beneficiary by logging in to your myPlans Connect account, and going to Menu > My Account > Beneficiaries.

Information about your life insurance benefits can only be disclosed to your named beneficiary—so it’s important that you keep your beneficiary designation up to date throughout your lifetime.

Make sure your beneficiary knows the life insurance benefit is due to your beneficiary. Only your beneficiary can initiate the life insurance payment (except in the case of a minor beneficiary, when a legal guardian may initiate the payment).