As stated in your PG&E SPD, Annual enrollment for your PG&E benefits usually occurs each fall (Ex. Oct. 24 – Nov. 15, 2019.). Before it begins, you will be mailed enrollment materials and an upfront confirmation statement reflecting your benefit coverage to the address on file. You’ll find enrollment instructions and information about your benefit options and contribution amounts. You will have the option to keep the benefit coverage shown on your upfront confirmation statement or select benefits that better support your needs. You can choose to enroll in eBenefits and receive this information via email instead.
- Watch for your annual enrollment information in the September/November time frame.
- Review your benefits information and utilize the tools and resources available on the PG&E Benefits Center website.
- Enroll in eBenefits.
Things to keep in mind:
- 47% of Americans cite health care as their greatest economic concern.
- Medical bills are the No. 1 cause of bankruptcy in the United States.
- For older Americans, healthcare costs represent the second-largest expense, behind housing.
Retiree Medical Coverage*— If you’re eligible
- Coverage you can elect.
- A separate packet will be mailed to you with an enrollment form and details about your options.
Retirement service award**
- A gift you can order within six months of your retirement date at no cost to you.
- A separate packet will be mailed to you with gift options and a gold card giving you access to PG&E facilities and group discounts.
At your own expense, you can elect COBRA to continue:
- Dental, vision, EAP and medical coverage for you and your eligible dependents—for 18 months after you retire.
- Health Care FSA contributions on an after-tax basis through the end of the calendar year—if you’re enrolled in the FSA when you retire A separate packet will be mailed to you with costs and forms.
Post-retirement life insurance*
- Automatically provided at no cost to you.
- A separate packet will be mailed to you with information about your coverage.
- Cash payout in your final pre-retirement paycheck of earned and unused vacation, Paid Time Off, floating holidays and service anniversary vacation.
- To avoid having disproportionately high taxes withheld from your final check, ask your supervisor if you can “vacation out” and retire at a later date.
Unused Health Account Credits*
If you’re eligible for PG&E-sponsored retiree medical coverage and you have unused Health Account credits, you can continue to use them—even if you don’t enroll in a PG&E-sponsored retiree medical plan.
Retiree utility discount
If you retire from the utility, you’ll continue to get a 25% discount on utility rates as long as you live within PG&E’s service territory and you have a PG&E account in your name.
Short-Term & Long-Term Disability
Short-Term: Depending on where you work, you may have access to short-term disability (STD) benefits.
Long-Term: Your long-term disability (LTD) benefits are designed to provide you with income if you are absent from work for six consecutive months or longer due to an eligible illness or injury.
What Happens If Your Employment Ends
Your life insurance coverage and any optional coverage you purchase for your spouse/domestic partner and/or children ends on the date your employment ends, unless your employment ends due to disability. If you die within 31 days of your termination date, benefits are paid to your beneficiary for your basic life insurance, as well as any additional life insurance coverage you elected.
You may have the option to convert your life insurance to an individual = policy or elect portability on any optional coverage.
If you stop paying supplementary contributions, your coverage will end.
If you are at least 65 and you pay for supplemental life insurance, you should receive information in the mail from the insurance company that explains your options.
Make sure to update your beneficiaries. See the SPD for more details.
PG&E Beneficiary Designations
As part of your retirement and estate planning, it’s important to name someone to receive the proceeds of your benefits programs in the event of your death. That’s how PG&E will know whom to send your final compensation and benefits. This can include life insurance payouts and any pension or savings balances you may have.
When you retire, make sure that you update your beneficiaries. PG&E has an Online Beneficiary Designation form for life events such as death, marriage, divorce, child birth, adoptions, etc.
- “Retirement Plans-Benefits & Savings.” U.S. Department of Labor, 2019, www.dol.gov/general/topic/retirement.
- “Generating Income That Will Last throughout Retirement.” Fidelity, 22 Jan. 2019, www.fidelity.com/viewpoints/retirement/income-that-can-last-lifetime.
- PG&E Summary Plan Description, 2017