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PCG » Topics » Defined Contribution Pension Plan

This excerpt taken from the PCG 8-K filed Oct 28, 2005.

Defined Contribution Pension Plan

 

PG&E Corporation and its subsidiaries also sponsor defined contribution pension plans. These plans are qualified under applicable sections of the Internal Revenue Code. These plans provide for tax-deferred salary deductions and after-tax employee contributions as well as employer contributions. Employees designate the funds in which their contributions and any employer contributions are invested. Employer contributions include matching of up to 5% of an employee’s base compensation and/or basic contributions of up to 5% of an employee’s base compensation. Matching employer contributions are automatically invested in PG&E Corporation common stock. Employees may reallocate matching employer contributions and accumulated earnings thereon to another investment fund or funds available to the plan at any time after they have been credited to their account. Employer contribution expense reflected in PG&E Corporation’s Consolidated Statements of Operations amounted to:

 

Year ended December 31,

 

PG&E
Corporation(1)

 

Utility

 

 

 

(in millions)

 

2004

 

$

40

 

$

39

 

2003

 

38

 

37

 

2002

 

52

 

36

 

 

(1)           Includes NEGT-related amounts within PG&E Corporation.

 

This excerpt taken from the PCG 10-K filed Feb 18, 2005.

Defined Contribution Pension Plan

        PG&E Corporation and its subsidiaries also sponsor defined contribution pension plans. These plans are qualified under applicable sections of the Internal Revenue Code. These plans provide for tax-deferred salary deductions and after-tax employee contributions as well as employer contributions. Employees designate the funds in which their contributions and any employer contributions are invested. Employer contributions include matching of up to 5% of an employee's base compensation and/or basic contributions of up to 5% of an employee's base compensation. Matching employer contributions are automatically invested in PG&E Corporation common stock. Employees may reallocate matching employer contributions and accumulated earnings thereon to another investment fund or funds available to the plan at any time after they have been credited to their account.

122


Employer contribution expense reflected in PG&E Corporation's Consolidated Statements of Operations amounted to:

Year ended December 31,
   PG&E
Corporation(1)
   Utility
 
   (in millions)
2004   $ 40   $ 39
2003     38     37
2002     52     36
(1)
Includes NEGT-related amounts within PG&E Corporation.

EXCERPTS ON THIS PAGE:

8-K
Oct 28, 2005
10-K
Feb 18, 2005

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