Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 204

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 204
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$(486)(1) The actuarial gain for the year ended December 31, 2024 was due to an increase in the discount rate used to measure the projected benefit obligation, offset by an unfavorable return on plan assets and unfavorable changes in the demographic assumptions; the actuarial loss for the year ended December 31, 2023 was due to a decrease in the discount rate used to measure the projected benefit obligation and unfavorable changes in the demographic assumptions.  (2) PG&E Corporation’s accumulated benefit obligation was $15.8 billion and $16.3 billion at December 31, 2024 and 2023, respectively.

141

Postretirement Benefits Other than Pensions(in millions)20242023Change in plan assets:Fair value of plan assets at beginning of year$2,499 $2,336 Actual return on plan assets74 260 Company contributions5 5 Plan participant contribution84 81 Benefits and expenses paid(191)(183)Fair value of plan assets at end of year$2,471 $2,499 Change in benefit obligation:Benefit obligation at beginning of year$1,377 $1,339 Service cost for benefits earned41 38 Interest cost71 73 Actuarial loss (gain) (1)(123)8 Benefits and expenses paid(174)(165)Federal subsidy on benefits paid3 3 Plan participant contributions84 81 Benefit obligation at end of year$1,279 $1,377 Funded Status: (2)Noncurrent asset$1,192 $1,122 Noncurrent liability— — Net asset at end of year$1,192 $1,122 (1)  The actuarial gain for the year ended December 31, 2024 was primarily due to an increase in the discount rate used to measure the accumulated benefit obligations and favorable changes in demographic assumptions, offset by an unfavorable return on plan assets. The actuarial loss for the year ended December 31, 2023 was primarily due to a decrease in the discount rate used to measure the accumulated benefit obligations, offset by favorable changes in claims cost and demographic assumptions.(2) At December 31, 2024 and 2023, the postretirement medical plan and the postretirement life insurance plan were in overfunded positions.  The projected benefit obligation and the fair value of plan assets for the postretirement life insurance plan