Your employee life insurance coverage stops 31 days after you retire, but PG&E automatically provides Postretirement Life Insurance at no cost to you. You can convert your employee life insurance coverage to an individual policy within 31 days after you retire by calling MetLife at 1-877-275-6387.
The amount of your Postretirement Life Insurance coverage is based on whether you’re covered by a bargaining agreement. The amount of Postretirement Life Insurance coverage for Management and A&T employees also depends on your years of credited service at retirement and the date you were first hired or promoted into a Management or A&T position.
Union-represented employees automatically get $8,000 in postretirement life insurance coverage.
Management and A&T employees get the following benefits:
*Were you hired directly by PG&E Corporation (not the utility) before April 1, 2007? Your service will be based on your original hire date, not your credited service date under the Retirement Plan.
**After you initiate your retirement, you should receive a separate letter in your retirement packet explaining how to limit your coverage to $50,000 if your last 12 months’ salary equals $50,000 or more.
Are you an officer or director? Contact the PG&E Pension Call Center to find out if you have an election on file for a lump-sum payment of life insurance benefits: 1-800-700-0057 or email HRPensionQuestions@pge.com.
IMPORTANT: Any Postretirement Life Insurance elections you make will be irrevocable.