Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 211

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 211
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 PG&E Corporation and the Utility expect to make total contributions of approximately $327 million to the pension plan in 2025.  PG&E Corporation and the Utility plan to contribute $31 million to the long-term disability trusts in 2025, as authorized in the 2023 GRC.Benefits Payments and ReceiptsAs of December 31, 2024, the estimated benefits expected to be paid and the estimated federal subsidies expected to be received in each of the next five fiscal years, and in aggregate for the five fiscal years thereafter, are as follows:(in millions)PensionPlanPBOPPlansFederalSubsidy2025969 81 (1)20261,055 84 (1)20271,083 87 (2)20281,109 89 (2)20291,133 91 (2)2030-20345,997 473 (11)

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There were no material differences between the estimated benefits expected to be paid by PG&E Corporation and the Utility for the years presented above.  There were also no material differences between the estimated subsidies expected to be received by PG&E Corporation and the Utility for the years presented above.Retirement Savings PlanPG&E Corporation sponsors a retirement savings plan, which qualifies as a 401(k) defined contribution benefit plan under the IRC.  This plan permits eligible employees to make pre-tax and after-tax contributions into the plan and provides for employer contributions to be made to eligible participants.  Total expenses recognized for defined contribution benefit plans reflected in PG&E Corporation’s Consolidated Statements of Income were $175 million, $158 million, and $144 million in 2024, 2023, and 2022, respectively.  PG&E Corporation’s default matching contributions under its 401(k) plan are in cash.  There were no material differences between the employer contribution expense for PG&E Corporation and the Utility for the years presented above.

NOTE 13: RELATED PARTY AGREEMENTS AND TRANSACTIONS

The Utility and other subsidiaries provide and receive various services to and from their parent, PG&E Corporation, and among themselves.  The Utility and PG&E Corporation exchange administrative and professional services in support of operations.  Services provided directly to PG&E Corporation by the Utility are priced at the higher of fully loaded cost (i.e., direct cost of good or service and allocation of overhead costs) or fair market value, depending on the nature of the services.  Services provided directly to the Utility by PG&E