Form 5500 Annual Return/Report of Employee Benefit Plan...

Form 5500 Department of the Treasury Internal Revenue Service

Department of Labor Employee Benefits Security

Administration

Pension Benefit Guaranty Corporation

Annual Return/Report of Employee Benefit Plan This form is required to be filed for employee benefit plans under sections 104

and 4065 of the Employee Retirement Income Security Act of 1974 (ERISA) and sections 6047(e), 6057(b), and 6058(a) of the Internal Revenue Code (the Code).

Complete all entries in accordance with the instructions to the Form 5500.

OMB Nos. 1210-0110 1210-0089

2015

This Form is Open to Public Inspection

Part I Annual Report Identification Information For calendar plan year 2015 or fiscal plan year beginning and ending

A This return/report is for: X a multiemployer plan; X a multiple-employer plan (Filers checking this box must attach a list of

participating employer information in accordance with the form instructions); or

X a single-employer plan; X a DFE (specify) _C_

B This return/report is: X the first return/report; X the final return/report;

X an amended return/report; X a short plan year return/report (less than 12 months).

C If the plan is a collectively-bargained plan, check here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X

D Check box if filing under: X Form 5558; X automatic extension; X the DFVC program;

X special extension (enter description) ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE

Part II Basic Plan Information—enter all requested information 1a Name of plan ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

1b Three-digit plan number (PN) 001

1c Effective date of plan YYYY-MM-DD

2a Plan sponsor’s name (employer, if for a single-employer plan) Mailing address (include room, apt., suite no. and street, or P.O. Box) City or town, state or province, country, and ZIP or foreign postal code (if foreign, see instructions)

2b Employer Identification Number (EIN) 012345678

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI D/B/A ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c/o ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 123456789 ABCDEFGHI ABCDEFGHI ABCDE 123456789 ABCDEFGHI ABCDEFGHI ABCDE CITYEFGHI ABCDEFGHI AB, ST 012345678901 UK

2c Plan Sponsor’s telephone number 0123456789

2d Business code (see instructions) 012345

Caution: A penalty for the late or incomplete filing of this return/report will be assessed unless reasonable cause is established.

Under penalties of perjury and other penalties set forth in the instructions, I declare that I have examined this return/report, including accompanying schedules, statements and attachments, as well as the electronic version of this return/report, and to the best of my knowledge and belief, it is true, correct, and complete.

SIGN HERE

YYYY-MM-DD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE

Signature of plan administrator Date Enter name of individual signing as plan administrator

SIGN HERE


Signature of employer/plan sponsor Date Enter name of individual signing as employer or plan sponsor

SIGN HERE


Signature of DFE Date Enter name of individual signing as DFE Preparer’s name (including firm name, if applicable) and address (include room or suite number) ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHIABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHIABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHIABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

Preparer’s telephone number

For Paperwork Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500. Form 5500 (2015) v. 150123

12/31/2015

X

925-270-2772

01/01/1937

221100

JASON WELLS

001

01/01/2015

PACIFIC GAS AND ELECTRIC COMPANY

PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN

94-0742640

1850 GATEWAY BOULEVARD, ROOM 7025CONCORD, CA 94520

10/17/2016

X

Filed with authorized/valid electronic signature.

X

Form 5500 (2015)

3a Plan administrator’s name and address XSame as Plan Sponsor ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c/o ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 123456789 ABCDEFGHI ABCDEFGHI ABCDE 123456789 ABCDEFGHI ABCDEFGHI ABCDE CITYEFGHI ABCDEFGHI AB, ST 012345678901 UK

3b Administrator’s EIN 012345678

3c Administrator’s telephone number 0123456789

4 If the name and/or EIN of the plan sponsor has changed since the last return/report filed for this plan, enter the name, EIN and the plan number from the last return/report:

4b EIN 012345678

a Sponsor’s name ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

4c PN 012

5 Total number of participants at the beginning of the plan year 5 1234567890126 Number of participants as of the end of the plan year unless otherwise stated (welfare plans complete only lines 6a(1), 6a(2), 6b, 6c, and 6d).

a(1) Total number of active participants at the beginning of the plan year ................................................................................... 6a(1) a(2) Total number of active participants at the end of the plan year .......................................................................................... 6a(2) b Retired or separated participants receiving benefits ................................................................................................................. 6b 123456789012

c Other retired or separated participants entitled to future benefits............................................................................................. 6c 123456789012

d Subtotal. Add lines 6a(2), 6b, and 6c. ...................................................................................................................................... 6d 123456789012

e Deceased participants whose beneficiaries are receiving or are entitled to receive benefits. .................................................. 6e 123456789012

f Total. Add lines 6d and 6e. ...................................................................................................................................................... 6f 123456789012

g Number of participants with account balances as of the end of the plan year (only defined contribution plans complete this item) .................................................................................................................................................................... 6g 123456789012 h Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested ............................................................................................................................................................. 6h 123456789012

7 Enter the total number of employers obligated to contribute to the plan (only multiemployer plans complete this item) ......... 7 8a If the plan provides pension benefits, enter the applicable pension feature codes from the List of Plan Characteristics Codes in the instructions:

b If the plan provides welfare benefits, enter the applicable welfare feature codes from the List of Plan Characteristics Codes in the instructions:

9a Plan funding arrangement (check all that apply) 9b Plan benefit arrangement (check all that apply) (1) X Insurance (1) X Insurance

(2) X Code section 412(e)(3) insurance contracts (2) X Code section 412(e)(3) insurance contracts

(3) X Trust (3) X Trust

(4) X General assets of the sponsor (4) X General assets of the sponsor

10 Check all applicable boxes in 10a and 10b to indicate which schedules are attached, and, where indicated, enter the number attached. (See instructions)

a Pension Schedules b General Schedules (1) X R (Retirement Plan Information)

(1) X H (Financial Information)

(2) X MB (Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information) - signed by the plan actuary

(2) X I (Financial Information – Small Plan)

(3) X ___ A (Insurance Information)

(4) X C (Service Provider Information)

(3) X SB (Single-Employer Defined Benefit Plan Actuarial Information) - signed by the plan actuary

(5) X D (DFE/Participating Plan Information)

(6) X G (Financial Transaction Schedules)

X

47449

4155

415-973-7000

23193

X

49298

95-3040078

X

X

X

22706

0

EMPLOYEE BENEFIT COMMITTEE OF PG&E CORPORATIONC/O PACIFIC GAS AND ELECTRIC COMPANYBENEFITS DEPARTMENT1850 GATEWAY BLVD., 7TH FLOORCONCORD, CA 94520

274

3036

1A 1C 1E 3H 3F

20101

X

50485

X

Form 5500 (2015)

Part III Form M-1 Compliance Information (to be completed by welfare benefit plans) 11a If the plan provides welfare benefits, was the plan subject to the Form M-1 filing requirements during the plan year? (See instructions and 29 CFR

2520.101-2.) ........................………..…. X Yes X No If “Yes” is checked, complete lines 11b and 11c.

11b Is the plan currently in compliance with the Form M-1 filing requirements? (See instructions and 29 CFR 2520.101-2.) ……..... X Yes X No

11c Enter the Receipt Confirmation Code for the 2015 Form M-1 annual report. If the plan was not required to file the 2015 Form M-1 annual report, enter the Receipt Confirmation Code for the most recent Form M-1 that was required to be filed under the Form M-1 filing requirements. (Failure to enter a valid Receipt Confirmation Code will subject the Form 5500 filing to rejection as incomplete.)

Receipt Confirmation Code______________________

SCHEDULE SB (Form 5500)

Department of the Treasury Internal Revenue Service

Department of Labor Employee Benefits Security Administration


Single-Employer Defined Benefit Plan Actuarial Information

This schedule is required to be filed under section 104 of the Employee Retirement Income Security Act of 1974 (ERISA) and section 6059 of the

Internal Revenue Code (the Code).

File as an attachment to Form 5500 or 5500-SF.

OMB No. 1210-0110

2015


For calendar plan year 2015 or fiscal plan year beginning and ending

Round off amounts to nearest dollar.

Caution: A penalty of $1,000 will be assessed for late filing of this report unless reasonable cause is established. A Name of plan ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

B Three-digit

plan number (PN) 001

C Plan sponsor’s name as shown on line 2a of Form 5500 or 5500-SF ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

D Employer Identification Number (EIN) 012345678

E Type of plan: X Single X Multiple-A X Multiple-B F Prior year plan size: X 100 or fewer X 101-500 X More than 500

Part I Basic Information

3 Funding target/participant count breakdown (1) Number of participants

(2) Vested Funding Target

(3) Total Funding Target

a For retired participants and beneficiaries receiving payment ...................................

b For terminated vested participants ...........................................................................

c For active participants ..............................................................................................

d Total .........................................................................................................................

4 If the plan is in at-risk status, check the box and complete lines (a) and (b) .............................. X a Funding target disregarding prescribed at-risk assumptions .............................................................................. 4a -123456789012345b Funding target reflecting at-risk assumptions, but disregarding transition rule for plans that have been in

at-risk status for fewer than five consecutive years and disregarding loading factor .....................................4b -123456789012345

5 Effective interest rate .............................................................................................................................................. 5 123.12%

6 Target normal cost .................................................................................................................................................. 6 -123456789012345Statement by Enrolled Actuary To the best of my knowledge, the information supplied in this schedule and accompanying schedules, statements and attachments, if any, is complete and accurate. Each prescribed assumption was applied in

accordance with applicable law and regulations. In my opinion, each other assumption is reasonable (taking into account the experience of the plan and reasonable expectations) and such other assumptions, in combination, offer my best estimate of anticipated experience under the plan.

SIGN HERE

Signature of actuary Date

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE YYYY-MM-DDType or print name of actuary Most recent enrollment number

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE 1234567Firm name Telephone number (including area code)

123456789 ABCDEFGHI ABCDEFGHI ABCDE 123456789 ABCDEFGHI ABCDEFGHI ABCDE UK

1234567890

Address of the firm If the actuary has not fully reflected any regulation or ruling promulgated under the statute in completing this schedule, check the box and see instructions

X

For Paperwork Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500 or 5500-SF.

Schedule SB (Form 5500) 2015v. 150123

1 Enter the valuation date: Month _________ Day _________ Year _________

2 Assets: a Market value ........................................................................................................................................................ 2a -123456789012345

b Actuarial value ..................................................................................................................................................... 2b -123456789012345

4037090331

306538362

WILLIS TOWERS WATSON

12/31/2015

01

550691825

6118461479

94-0742640

13721602564

01/01/2015

6.29

415-733-4100

23690



14452531309

09/21/2016

001

10706243635

22706 3959840130

6118461479

524401204

10602702813

01

14-04116

2015

4269

X

JOHN COATES, A.S.A

X

345 CALIFORNIA STREET, SUITE 2000SAN FRANCISCO, CA 94104

50665

Schedule SB (Form 5500) 2015 Page 2 - 1 x

Part II Beginning of Year Carryover and Prefunding Balances (a) Carryover balance (b) Prefunding balance

7 Balance at beginning of prior year after applicable adjustments (line 13 from prior year) ............................................................................................................................

-123456789012345 -123456789012345

8 Portion elected for use to offset prior year’s funding requirement (line 35 from prior year) ................................................................................................................... -123456789012345 -123456789012345

9 Amount remaining (line 7 minus line 8) ....................................................................... -123456789012345 -123456789012345

10 Interest on line 9 using prior year’s actual return of % .............................. -123456789012345 -123456789012345

11 Prior year’s excess contributions to be added to prefunding balance:

a Present value of excess contributions (line 38a from prior year) ............................. -123456789012345 b(1) Interest on the excess, if any, of line 38a over line 38b from prior year Schedule SB, using prior year's effective interest rate of ___ % .....................

b(2) Interest on line 38b from prior year Schedule SB, using prior year's actual

return ................................................................................................................. c Total available at beginning of current plan year to add to prefunding balance ..............

-123456789012345

d Portion of (c) to be added to prefunding balance .................................................... -123456789012345123456789012345

12 Other reductions in balances due to elections or deemed elections ........................... -123456789012345 -123456789012345

13 Balance at beginning of current year (line 9 + line 10 + line 11d – line 12) ................. -123456789012345 -123456789012345

Part III Funding Percentages

14 Funding target attainment percentage ................................................................................................................................................................. 14 123.12%

15 Adjusted funding target attainment percentage ............................................................................................................................... 15 123.12%

16 Prior year’s funding percentage for purposes of determining whether carryover/prefunding balances may be used to reduce current year’s funding requirement .........................................................................................................................................................

16 123.12%

17 If the current value of the assets of the plan is less than 70 percent of the funding target, enter such percentage. .............................. 17 123.12%

Part IV Contributions and Liquidity Shortfalls 18 Contributions made to the plan for the plan year by employer(s) and employees:

YYYY-MM-DD 12345678901234 12345678901234 YYYY-MM-DD 12345678901234 123456789012345-





YYYY-MM-DD 12345678901234 12345678901234

Totals ► 18(b) 18(c)

Liquidity shortfall as of end of quarter of this plan year(1) 1st (2) 2nd (3) 3rd (4) 4th

-123456789012345 -123456789012345 -123456789012345 -123456789012345

(a) Date (MM-DD-YYYY)

(b) Amount paid by employer(s)

(c) Amount paid by employees




19 Discounted employer contributions – see instructions for small plan with a valuation date after the beginning of the year: a Contributions allocated toward unpaid minimum required contributions from prior years. ..................................... 19a -123456789012345

b Contributions made to avoid restrictions adjusted to valuation date ....................................................................... 19b -123456789012345

c Contributions allocated toward minimum required contribution for current year adjusted to valuation date ..................... 19c -123456789012345

20 Quarterly contributions and liquidity shortfalls:

a Did the plan have a “funding shortfall” for the prior year? ............................................................................................................................. X Yes X No

b If line 20a is “Yes,” were required quarterly installments for the current year made in a timely manner? ..................................................... X Yes X No

c If line 20a is “Yes,” see instructions and complete the following table as applicable:

0

1827079912

0

6.49

10/15/2015

12/23/2015

0

01/15/2015

0

04/15/2016

07/15/2016

0

0

0

1827079912

81750000

327000000

303986660

4905000

76845000

81750000

81750000

304649992

1

0

128.16

0

0

X

0

0

108.42

0

0

286303422

2113383334

124.56

0

0

0

15.67

19728734

323715394

0

Schedule SB (Form 5500) 2015 Page 3

Part V Assumptions Used to Determine Funding Target and Target Normal Cost 21 Discount rate:

a Segment rates: 1st segment: 123.12_%

2nd segment: 123.12_%

3rd segment: 123.12 %

X N/A, full yield curve used

b Applicable month (enter code) ........................................................................................................................... 21b 1

22 Weighted average retirement age ......................................................................................................................... 22 12

23 Mortality table(s) (see instructions) X Prescribed - combined X Prescribed - separate X Substitute

Part VI Miscellaneous Items 24 Has a change been made in the non-prescribed actuarial assumptions for the current plan year? If “Yes,” see instructions regarding required attachment. ........................................................................................................................................................................................................ X Yes X No

25 Has a method change been made for the current plan year? If “Yes,” see instructions regarding required attachment. ................................ X Yes X No

26 Is the plan required to provide a Schedule of Active Participants? If “Yes,” see instructions regarding required attachment. ......................... X Yes X No

27 If the plan is subject to alternative funding rules, enter applicable code and see instructions regarding attachment .............................................................................................................................................................

27

Part VII Reconciliation of Unpaid Minimum Required Contributions For Prior Years

28 Unpaid minimum required contributions for all prior years .................................................................................... 28 -123456789012345

29 Discounted employer contributions allocated toward unpaid minimum required contributions from prior years (line 19a) ................................................................................................................................................................

29 -123456789012345

30 Remaining amount of unpaid minimum required contributions (line 28 minus line 29) ......................................... 30 -123456789012345

Part VIII Minimum Required Contribution For Current Year

31 Target normal cost and excess assets (see instructions):

a Target normal cost (line 6) .................................................................................................................................. 31a -123456789012345

b Excess assets, if applicable, but not greater than line 31a ............................................................................... 31b

32 Amortization installments: Outstanding Balance Installment

a Net shortfall amortization installment .......................................................................... -123456789012345 -123456789012345

b Waiver amortization installment .................................................................................. -123456789012345 -123456789012345

33 If a waiver has been approved for this plan year, enter the date of the ruling letter granting the approval (Month _________ Day _________ Year _________ )_and the waived amount ..........................................

33 -123456789012345

34 Total funding requirement before reflecting carryover/prefunding balances (lines 31a - 31b + 32a + 32b - 33) ... 34 -123456789012345 Carryover balance Prefunding balance Total balance

35 Balances elected for use to offset funding requirement ............................................................ -123456789012345 -123456789012345 -123456789012345

36 Additional cash requirement (line 34 minus line 35) .............................................................................................. 36 -123456789012345

37 Contributions allocated toward minimum required contribution for current year adjusted to valuation date (line 19c) ................................................................................................................................................................

37 -123456789012345

38 Present value of excess contributions for current year (see instructions)

a Total (excess, if any, of line 37 over line 36) ..................................................................................................... 38a

b Portion included in line 38a attributable to use of prefunding and funding standard carryover balances ......... 38b

39 Unpaid minimum required contribution for current year (excess, if any, of line 36 over line 37) ........................... 39 -123456789012345

40 Unpaid minimum required contributions for all years ............................................................................................. 40 -123456789012345

Part IX Pension Funding Relief Under Pension Relief Act of 2010 (See Instructions)

41 If an election was made to use PRA 2010 funding relief for this plan:

a Schedule elected ............................................................................................................................................................ 2 plus 7 years X 15 years

b Eligible plan year(s) for which the election in line 41a was made ........................................................................... X 2008 X 2009 X 2010 X 2011

42 Amount of acceleration adjustment ....................................................................................................................... 42

43 Excess installment acceleration amount to be carried over to future plan years ................................................... 43

0

X

0

0

0

X

6.816.11

304649992

0

0

306538362

0

X

0

306538362

0

X

0

304649992

4

62

0

4.72

0

0

0

0

Schedule C (Form 5500) 2011 Page 1

SCHEDULE C (Form 5500)




Service Provider Information

This schedule is required to be filed under section 104 of the Employee Retirement Income Security Act of 1974 (ERISA).

File as an attachment to Form 5500.

OMB No. 1210-0110

2015

This Form is Open to Public Inspection.


A Name of plan ABCDEFGHI

B Three-digit


C Plan sponsor’s name as shown on line 2a of Form 5500 ABCDEFGHI


Part I Service Provider Information (see instructions) You must complete this Part, in accordance with the instructions, to report the information required for each person who received, directly or indirectly, $5,000 or more in total compensation (i.e., money or anything else of monetary value) in connection with services rendered to the plan or the person's position with the plan during the plan year. If a person received only eligible indirect compensation for which the plan received the required disclosures, you are required to answer line 1 but are not required to include that person when completing the remainder of this Part.

1 Information on Persons Receiving Only Eligible Indirect Compensation a Check "Yes" or "No" to indicate whether you are excluding a person from the remainder of this Part because they received only eligible indirect compensation for which the plan received the required disclosures (see instructions for definitions and conditions).. . . . . . . . . . . . . . . X Yes X No

b If you answered line 1a “Yes,” enter the name and EIN or address of each person providing the required disclosures for the service providers who received only eligible indirect compensation. Complete as many entries as needed (see instructions).

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation

(b) Enter name and EIN or address of person who provided you disclosure on eligible indirect compensation



For Paperwork Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500 Schedule C (Form 5500) 2015v.150123

94-0742640

12/31/2015

X

01/01/2015

001PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN


Schedule C (Form 5500) 2015 Page 2- 1 x









1

Schedule C (Form 5500) 2015 Page 3 - 1 x

2. Information on Other Service Providers Receiving Direct or Indirect Compensation. Except for those persons for whom you answered “Yes” to line 1a above, complete as many entries as needed to list each person receiving, directly or indirectly, $5,000 or more in total compensation (i.e., money or anything else of value) in connection with services rendered to the plan or their position with the plan during the plan year. (See instructions).

(a) Enter name and EIN or address (see instructions)

(b) Service Code(s)

(c) Relationship to

employer, employee organization, or

person known to be a party-in-interest

(d) Enter direct

compensation paid by the plan. If none,

enter -0-.

(e) Did service provider

receive indirect compensation? (sources other than plan or plan

sponsor)

(f) Did indirect compensation

include eligible indirect compensation, for which the plan received the required

disclosures?

(g) Enter total indirect

compensation received by service provider excluding

eligible indirect compensation for which you answered “Yes” to element

(f). If none, enter -0-.

(h) Did the service

provider give you a formula instead of

an amount or estimated amount?

ABCDEFGHI ABCDEFGHI ABCD

123456789012345

Yes X No X Yes X No X

123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

27 28 51 6872

14 28 51

28 51

2159773 0

2037578

1978577

X

33-0629048

PIMCO

48-1140940

13-3200244

NISA INVESTMENT ADVISORS, LLC

JP MORGAN ASSET MANAGEMENT

X

X

1

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

N/A

28 51

16

14 28 51

1962269

1959193

1617512 0

X

26-0189082

OAKTREE CAPITAL MGMT LP

16-0468020

22-1211670

XEROX

PRUDENTIAL LIFE INSURANCE

X

X

2

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

N/A

NONE

N/A

14 28 51 68

14 21 24 2850 51

21 24 28 5068

1467516 0

01459702

1431548 0

X

X

X

X

94-1441976

DODGE & COX

94-3112180

52-1309931

BLACKROCK INST'L TRUST CO.

T ROWE PRICE

3

X

X

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

N/A

14 28 51 71

27 52

28 51

1345836

01328567

1255653 0

X

X

91-1175091

FRANK RUSSELL COMPANY

13-3987414

04-3404987

AQR CAPITAL MANAGEMENT

THE BOSTON COMPANY ASSET MGMT LLC

X

4

X

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

N/A

28 51

28 51

14 28 50 51

1244981 0

01006617

992226 0

X

X

X

04-2683227

WELLINGTON MANAGEMENT

13-3040307

13-3806691

MORGAN STANLEY

BLACKROCK FINANCIAL

5

X

X

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

14 28 51

14 28 51 68

28 28 51 68

949195

0889279

859697 0

X

X

20-8058531

LEGAL & GENERAL INVESTMENT

94-3219135

27-4357327

ADELANTE CAPITAL MGMT LLC

NUVEEN ASSET MGMT LLC

X

6

X

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

TRUSTEE/CUSTODIAN

NONE

27 50

14 25 50 5962 72 99

14 28 51 68

840475

0816500

707408 0

X

X

95-2665790

ANALYTIC INVESTORS

13-5160382

20-1665304

BANK OF NEW YORK MELLON

TIMESSQUARE CAPITAL MGMT

X

7

X

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

28 51

14 27 28 5068

14 29 50

698188

0645136

625595

X

COLONIAL FIRST STATE GLOBAL ASSET M

59-3299598

52-1219029

DEPRINCE, RACE & ZOLLO, INC.

GROOM LAW GROUP

LEVEL 3, DARLING PARK TOWER 1, 201 SUSSEX STREETSYDNEY, AUSTRALIA NSW 2000 AU

X

X

8

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

14 28 51

28 50 51

11 14 16 50

506488

436317

418726

65-1217949

LEGATO CAPITAL MGMT LLC

95-3921788

53-0181291

PAYDEN & RYGEL

TOWERS WATSON DELAWARE INC.

X

X

X

9




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

14 28 51

13 50

14 28 51 68

339157

326450

324727 0

X

27-3992694

MOUNT LUCAS MGMT LP

94-3203402

06-1404803

KAISER

COLUMBUS CIRCLE

X

X

10

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

PLAN SPONSOR

13 14 50 6568

14 28 51

14 50 65

301437

287289

260486

95-3760980

ANTHEM BXBS

13-3580284

94-0742640

CREDIT SUISSE ASSET MGMT, LLC

PACIFIC GAS & ELECTRIC COMPANY

X

X

X

11




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

14 28 51

23 50

14 28 51

184425

183037

146072

GIA PARTNERS, LLC

13-5581829

91-1522082

METROPOLITAN LIFE INSURANCE CO.

PUGH CAPITAL MGMT, INC

12TH EAST 49TH STREETNEW YORK, NY 10017

X

X

X

12




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

49 50

14 28 51 71

29 50

108584

097571

77661

X

65-1170481

BREGE COMMUNICATIONS

91-0604934

36-2152202

RUSSELL IMPLEMENTATION SERVICES INC

SEYFARTH SHAW LLP

X

X

13

X




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

14 27 50

10 50

14 28 51

50982

48510

48040

61-0736136

MERCER INVESTMENT CONSULTING INC

91-0189318

04-3118582

MOSS ADAMS LLP

RHUMBLINE ADVISORS

X

X

X

14




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

50

49 50

49 50

47919

37556

19278

80-0485339

JENNIE LEE

90-0761297

AMACES, INC.

EVESTMENT ALLIANCE 5000 OLDE TOWNE PARKWAYSUITE 100MARIETTA, GA 30068

X

X

X

15




(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345


123456789012345 Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service




123456789012345 Yes X No X Yes X No X

Yes X No X

NONE

NONE

NONE

13 50

13 50

11 50

15400

7968

5333

22-3461740

EXPRESS SCRIPTS (MEDCO)

54-1414194

45-4725418

VALUE OPTIONS, INC.

HERRONPALMER

X

X

X

16


Part I Service Provider Information (continued)3 If you reported on line 2 receipt of indirect compensation, other than eligible indirect compensation, by a service provider, and the service provider is a fiduciary

or provides contract administrator, consulting, custodial, investment advisory, investment management, broker, or recordkeeping services, answer the following questions for (a) each source from whom the service provider received $1,000 or more in indirect compensation and (b) each source for whom the service provider gave you a formula used to determine the indirect compensation instead of an amount or estimated amount of the indirect compensation. Complete as many entries as needed to report the required information for each source.

(a) Enter service provider name as it appears on line 2 (b) Service Codes (see instructions)

(c) Enter amount of indirect compensation

(d) Enter name and EIN (address) of source of indirect compensation (e) Describe the indirect compensation, including any formula used to determine the service provider’s eligibility

for or the amount of the indirect compensation.









1


Part II Service Providers Who Fail or Refuse to Provide Information

4 Provide, to the extent possible, the following information for each service provider who failed or refused to provide the information necessary to complete this Schedule.

(a) Enter name and EIN or address of service provider (see instructions)

(b) Nature of Service Code(s)

(c) Describe the information that the service provider failed or refused to provide

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 10 11 12 13

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 1234567890





























1


a Name: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD b EIN: 123456789 c Position: ABCDEFGHI ABCDEFGHI ABCD d Address: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

e Telephone: 1234567890

Explanation: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

















Part III Termination Information on Accountants and Enrolled Actuaries (see instructions) (complete as many entries as needed)

1

SCHEDULE D (Form 5500)


Department of Labor

Employee Benefits Security Administration

DFE/Participating Plan Information

This schedule is required to be filed under section 104 of the Employee Retirement Income Security Act of 1974 (ERISA).


OMB No. 1210-0110

2015



A Name of plan ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

B Three-digit


C Plan or DFE sponsor’s name as shown on line 2a of Form 5500 ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI


Part I Information on interests in MTIAs, CCTs, PSAs, and 103-12 IEs (to be completed by plans and DFEs) (Complete as many entries as needed to report all interests in DFEs)

a Name of MTIA, CCT, PSA, or 103-12 IE: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

b Name of sponsor of entity listed in (a): ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

c EIN-PN 123456789-123 d Entity

code 1 e Dollar value of interest in MTIA, CCT, PSA, or

103-12 IE at end of year (see instructions) -123456789012345






























103-12 IE at end of year (see instructions) -123456789012345 For Paperwork Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500. Schedule D (Form 5500) 2015

v. 150123

12/31/2015

27-5275677-001

13-6154008-012

27-0184174-001

54662218

94-3302956-001

5238690

53302499

94-0742640-002

87263548

13738292486

94-0742640

C

C

C

C

M

01/01/2015



001

BLACKROCK INST'L TRUST CO., N.A.

THE BANK OF NEW YORK MELLON



PACIFIC GAS & ELECTRIC COMPANY

RUSSELL DEV EX-US LARGE CAP INX NL

COLLECTIVE TRUST GOVERNMENT STIF 15

LONG DURATION ALPHACREDIT FUND

RUSSELL 3000 INDEX FUND

RETIREMENT PLAN MASTER TRUST

Schedule D (Form 5500) 2015 Page 2 - 1 x



















































1

Schedule D (Form 5500) 2015 Page 3 - 1 x

6

Part II Information on Participating Plans (to be completed by DFEs) (Complete as many entries as needed to report all participating plans)

a Plan name ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

b Name of plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123




c EIN-PN 123456789-123

1

SCHEDULE H (Form 5500)




Financial Information

This schedule is required to be filed under section 104 of the Employee Retirement Income Security Act of 1974 (ERISA), and section 6058(a) of the

Internal Revenue Code (the Code).


OMB No. 1210-0110

2015




B Three-digit


C Plan sponsor’s name as shown on line 2a of Form 5500 ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI


Part I Asset and Liability Statement 1 Current value of plan assets and liabilities at the beginning and end of the plan year. Combine the value of plan assets held in more than one trust. Report

the value of the plan’s interest in a commingled fund containing the assets of more than one plan on a line-by-line basis unless the value is reportable on lines 1c(9) through 1c(14). Do not enter the value of that portion of an insurance contract which guarantees, during this plan year, to pay a specific dollar benefit at a future date. Round off amounts to the nearest dollar. MTIAs, CCTs, PSAs, and 103-12 IEs do not complete lines 1b(1), 1b(2), 1c(8), 1g, 1h, and 1i. CCTs, PSAs, and 103-12 IEs also do not complete lines 1d and 1e. See instructions.

Assets (a) Beginning of Year (b) End of Year

a Total noninterest-bearing cash ....................................................................... 1a -123456789012345 -123456789012345

b Receivables (less allowance for doubtful accounts):

(1) Employer contributions ........................................................................... 1b(1) -123456789012345 -123456789012345

(2) Participant contributions ......................................................................... 1b(2) -123456789012345 -123456789012345

(3) Other ....................................................................................................... 1b(3) -123456789012345 -123456789012345 c General investments:

(1) Interest-bearing cash (include money market accounts & certificates of deposit) .............................................................................................

1c(1) -123456789012345 -123456789012345

(2) U.S. Government securities .................................................................... 1c(2) -123456789012345 -123456789012345

(3) Corporate debt instruments (other than employer securities):

(A) Preferred .......................................................................................... 1c(3)(A) -123456789012345 -123456789012345

(B) All other ............................................................................................ 1c(3)(B) -123456789012345 -123456789012345

(4) Corporate stocks (other than employer securities):

(A) Preferred .......................................................................................... 1c(4)(A) -123456789012345 -123456789012345

(B) Common .......................................................................................... 1c(4)(B) -123456789012345 -123456789012345

(5) Partnership/joint venture interests .......................................................... 1c(5) -123456789012345 -123456789012345

(6) Real estate (other than employer real property) ..................................... 1c(6) -123456789012345 -123456789012345

(7) Loans (other than to participants) ........................................................... 1c(7) -123456789012345 -123456789012345

(8) Participant loans ..................................................................................... 1c(8) -123456789012345 -123456789012345

(9) Value of interest in common/collective trusts .......................................... 1c(9) -123456789012345 -123456789012345

(10) Value of interest in pooled separate accounts ........................................ 1c(10) -123456789012345 -123456789012345

(11) Value of interest in master trust investment accounts ............................ 1c(11) -123456789012345 -123456789012345

(12) Value of interest in 103-12 investment entities ....................................... 1c(12) -123456789012345 -123456789012345(13) Value of interest in registered investment companies (e.g., mutual funds) ......................................................................................

1c(13) -123456789012345 -123456789012345

(14) Value of funds held in insurance company general account (unallocated contracts) ................................................................................................

1c(14) -123456789012345 -123456789012345

(15) Other ....................................................................................................... 1c(15) -123456789012345 -123456789012345

For Paperwork Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500 Schedule H (Form 5500) 2015 v. 150123

12/31/2015

240345000

0

94-0742640

14205022481

01/01/2015


175521349


001

0

240565725

13738292486

200466955

Schedule H (Form 5500) 2015 Page 2

(5) Unrealized appreciation (depreciation) of assets: (A) Real estate ......................... 2b(5)(A) -123456789012345

(B) Other ................................................................................................... 2b(5)(B) -123456789012345 (C) Total unrealized appreciation of assets.

Add lines 2b(5)(A) and (B) ..................................................................2b(5)(C) -123456789012345

1d Employer-related investments: (a) Beginning of Year (b) End of Year

(1) Employer securities .................................................................................... 1d(1) -123456789012345 -123456789012345

(2) Employer real property ............................................................................... 1d(2) -123456789012345 -123456789012345

1e Buildings and other property used in plan operation ......................................... 1e -123456789012345 -123456789012345

1f Total assets (add all amounts in lines 1a through 1e) ...................................... 1f -123456789012345 -123456789012345

Liabilities

1g Benefit claims payable ...................................................................................... 1g -123456789012345 -123456789012345

1h Operating payables ........................................................................................... 1h -123456789012345 -123456789012345

1i Acquisition indebtedness .................................................................................. 1i -123456789012345 -123456789012345

1j Other liabilities ................................................................................................... 1j -123456789012345 -123456789012345

1k Total liabilities (add all amounts in lines 1g through1j) ..................................... 1k -123456789012345 -123456789012345

Net Assets

1l Net assets (subtract line 1k from line 1f) ........................................................... 1l -123456789012345 -123456789012345

Part II Income and Expense Statement 2 Plan income, expenses, and changes in net assets for the year. Include all income and expenses of the plan, including any trust(s) or separately maintained

fund(s) and any payments/receipts to/from insurance carriers. Round off amounts to the nearest dollar. MTIAs, CCTs, PSAs, and 103-12 IEs do not complete lines 2a, 2b(1)(E), 2e, 2f, and 2g.

Income (a) Amount (b) Total

a Contributions:

(1) Received or receivable in cash from: (A) Employers .................................. 2a(1)(A) -123456789012345

(B) Participants ......................................................................................... 2a(1)(B) -123456789012345

(C) Others (including rollovers) ................................................................. 2a(1)(C) -123456789012345

(2) Noncash contributions ................................................................................ 2a(2) -123456789012345

(3) Total contributions. Add lines 2a(1)(A), (B), (C), and line 2a(2) ................. 2a(3) -123456789012345

b Earnings on investments: (1) Interest:

(A) Interest-bearing cash (including money market accounts and certificates of deposit) .........................................................................

2b(1)(A) -123456789012345

(B) U.S. Government securities ................................................................ 2b(1)(B) -123456789012345 (C) Corporate debt instruments ................................................................ 2b(1)(C) -123456789012345

(D) Loans (other than to participants) ....................................................... 2b(1)(D) -123456789012345

(E) Participant loans ................................................................................. 2b(1)(E) -123456789012345

(F) Other ................................................................................................... 2b(1)(F) -123456789012345

(G) Total interest. Add lines 2b(1)(A) through (F) ..................................... 2b(1)(G) -123456789012345

(2) Dividends: (A) Preferred stock .................................................................... 2b(2)(A) -123456789012345

(B) Common stock .................................................................................... 2b(2)(B) -123456789012345

(C) Registered investment company shares (e.g. mutual funds) .............. 2b(2)(C)

(D) Total dividends. Add lines 2b(2)(A), (B), and (C) 2b(2)(D)

-123456789012345

(3) Rents ........................................................................................................... 2b(3) -123456789012345

(4) Net gain (loss) on sale of assets: (A) Aggregate proceeds ....................... 2b(4)(A) -123456789012345

(B) Aggregate carrying amount (see instructions) .................................... 2b(4)(B) -123456789012345

(C) Subtract line 2b(4)(B) from line 2b(4)(A) and enter result .................. 2b(4)(C) -123456789012345

0

14179104441

0

14179104441

0

367495326

0

0

0

367495326

14621109555

14621109555

Schedule H (Form 5500) 2015 Page 3

(a) Amount (b) Total

(6) Net investment gain (loss) from common/collective trusts ......................... 2b(6) -123456789012345

(7) Net investment gain (loss) from pooled separate accounts ....................... 2b(7) -123456789012345

(8) Net investment gain (loss) from master trust investment accounts ........... 2b(8) -123456789012345

(9) Net investment gain (loss) from 103-12 investment entities ...................... 2b(9) -123456789012345(10) Net investment gain (loss) from registered investment

companies (e.g., mutual funds) .................................................................. 2b(10) -123456789012345

c Other income .................................................................................................... 2c -123456789012345

d Total income. Add all income amounts in column (b) and enter total ..................... 2d -123456789012345

Expenses

e Benefit payment and payments to provide benefits:

(1) Directly to participants or beneficiaries, including direct rollovers .............. 2e(1) -123456789012345

(2) To insurance carriers for the provision of benefits ..................................... 2e(2) -123456789012345

(3) Other .......................................................................................................... 2e(3) -123456789012345

(4) Total benefit payments. Add lines 2e(1) through (3) .................................. 2e(4)

-123456789012345

f Corrective distributions (see instructions) ........................................................ 2f -123456789012345

g Certain deemed distributions of participant loans (see instructions) ................ 2g -123456789012345

h Interest expense ............................................................................................... 2h -123456789012345

i Administrative expenses: (1) Professional fees .............................................. 2i(1) -123456789012345

(2) Contract administrator fees ........................................................................ 2i(2) -123456789012345

(3) Investment advisory and management fees .............................................. 2i(3) -123456789012345

(4) Other .......................................................................................................... 2i(4) -123456789012345

(5) Total administrative expenses. Add lines 2i(1) through (4) ......................... 2i(5) -123456789012345

j Total expenses. Add all expense amounts in column (b) and enter total ........ 2j -123456789012345

Net Income and Reconciliation

k Net income (loss). Subtract line 2j from line 2d ............................................................. 2k -123456789012345

l Transfers of assets:

(1) To this plan ................................................................................................. 2l(1) -123456789012345

(2) From this plan ............................................................................................ 2l(2) -123456789012345

Part III Accountant’s Opinion 3 Complete lines 3a through 3c if the opinion of an independent qualified public accountant is attached to this Form 5500. Complete line 3d if an opinion is not

attached. a The attached opinion of an independent qualified public accountant for this plan is (see instructions):

(1) X Unqualified (2) X Qualified (3) X Disclaimer (4) X Adverse

b Did the accountant perform a limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)? X Yes X No

c Enter the name and EIN of the accountant (or accounting firm) below: (1) Name: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD (2) EIN: 123456789

d The opinion of an independent qualified public accountant is not attached because: (1) X This form is filed for a CCT, PSA, or MTIA. (2) X It will be attached to the next Form 5500 pursuant to 29 CFR 2520.104-50.

Part IV Compliance Questions 4 CCTs and PSAs do not complete Part IV. MTIAs, 103-12 IEs, and GIAs do not complete lines 4a, 4e, 4f, 4g, 4h, 4k, 4m, 4n, or 5.

103-12 IEs also do not complete lines 4j and 4l. MTIAs also do not complete line 4l.

During the plan year: Yes No N/A Amount

a Was there a failure to transmit to the plan any participant contributions within the time period described in 29 CFR 2510.3-102? Continue to answer “Yes” for any prior year failures until fully corrected. (See instructions and DOL’s Voluntary Fiduciary Correction Program.) .....

4a -123456789012345b Were any loans by the plan or fixed income obligations due the plan in default as of the

close of the plan year or classified during the year as uncollectible? Disregard participant loans secured by participant’s account balance. (Attach Schedule G (Form 5500) Part I if “Yes” is checked.) ........................................................................................................................

4b -123456789012345

-442005114

192837279

-172414047

598418514

-2244000

634842393

36423879

X

598418514

MOSS ADAMS LLP

30470133

X

X

91-0189318

1279225

4674521

X

Schedule H (Form 5500) 2015 Page 4- X Yes No N/A Amount

c Were any leases to which the plan was a party in default or classified during the year as uncollectible? (Attach Schedule G (Form 5500) Part II if “Yes” is checked.) .............................

4c -123456789012345d Were there any nonexempt transactions with any party-in-interest? (Do not include

transactions reported on line 4a. Attach Schedule G (Form 5500) Part III if “Yes” is checked.) .....................................................................................................................................

4d -123456789012345

e Was this plan covered by a fidelity bond? ................................................................................... 4e -123456789012345

f Did the plan have a loss, whether or not reimbursed by the plan’s fidelity bond, that was caused by fraud or dishonesty? .................................................................................................

4f -123456789012345

g Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? ........................................

4g -123456789012345

h Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? .........

4h -123456789012345

i Did the plan have assets held for investment? (Attach schedule(s) of assets if “Yes” is checked, and see instructions for format requirements.) ............................................................

4i

j Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? (Attach schedule of transactions if “Yes” is checked, and see instructions for format requirements.) ...................................................................................

4j

k Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? ...........................................................

4k

l Has the plan failed to provide any benefit when due under the plan? ........................................ 4l -123456789012345

m If this is an individual account plan, was there a blackout period? (See instructions and 29 CFR 2520.101-3.) ........................................................................................................................

4m

n If 4m was answered “Yes,” check the “Yes” box if you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3. .....................

4n

o Did the plan trust incur unrelated business taxable income? …………………………………… 4o

p Were in-service distributions made during the plan year? ……………………………………….. 4p 5a Has a resolution to terminate the plan been adopted during the plan year or any prior plan year?

If “Yes,” enter the amount of any plan assets that reverted to the employer this year........................... X Yes X No Amount:-123

5b If, during this plan year, any assets or liabilities were transferred from this plan to another plan(s), identify the plan(s) to which assets or liabilities were transferred. (See instructions.)

5b(1) Name of plan(s) 5b(2) EIN(s) 5b(3) PN(s)

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHIABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

123456789 123


123456789 123


123456789 123


123456789 123

5c If the plan is a defined benefit plan, is it covered under the PBGC insurance program (see ERISA section 4021)? ..... X Yes X No X Not determined

Part V Trust Information

6a Name of trust ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

6b Trust’s EIN

6c Name of trustee or custodian 6d Trustee’s or custodian’s telephone number

X

X

X

X

X

X

X

75000000

1

X

X

X

X

X

SCHEDULE R (Form 5500)




Retirement Plan Information

This schedule is required to be filed under section 104 and 4065 of the Employee Retirement Income Security Act of 1974 (ERISA) and section

6058(a) of the Internal Revenue Code (the Code).


OMB No. 1210-0110

2015




B Three-digit plan number

(PN) 001

C Plan sponsor’s name as shown on line 2a of Form 5500 ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI


Part I Distributions

1 Total value of distributions paid in property other than in cash or the forms of property specified in the instructions .................................................................................................................................................................

1 -123456789012345

Part II Funding Information (If the plan is not subject to the minimum funding requirements of section of 412 of the Internal Revenue Code or ERISA section 302, skip this Part)

If you completed line 5, complete lines 3, 9, and 10 of Schedule MB and do not complete the remainder of this schedule.

If you completed line 6c, skip lines 8 and 9.

7 Will the minimum funding amount reported on line 6c be met by the funding deadline? ............................................ X Yes X No X N/A

8 If a change in actuarial cost method was made for this plan year pursuant to a revenue procedure or other authority providing automatic approval for the change or a class ruling letter, does the plan sponsor or plan administrator agree with the change? ........................................................................................................................

X Yes X No X N/A

Part III Amendments

9 If this is a defined benefit pension plan, were any amendments adopted during this plan year that increased or decreased the value of benefits? If yes, check the appropriate box. If no, check the “No” box. ..............................................................................................

X Increase X Decrease X Both X No

Part IV ESOPs (see instructions). If this is not a plan described under Section 409(a) or 4975(e)(7) of the Internal Revenue Code, skip this Part.

10 Were unallocated employer securities or proceeds from the sale of unallocated securities used to repay any exempt loan? ................ X Yes X No

11 a Does the ESOP hold any preferred stock? .................................................................................................................................... X Yes X No

b If the ESOP has an outstanding exempt loan with the employer as lender, is such loan part of a “back-to-back” loan? (See instructions for definition of “back-to-back” loan.) ..................................................................................................................

X Yes X No

12 Does the ESOP hold any stock that is not readily tradable on an established securities market? ........................................................ X Yes X No

For Paperwork Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500. Schedule R (Form 5500) 2015 v. 150123

All references to distributions relate only to payments of benefits during the plan year.

2 Enter the EIN(s) of payor(s) who paid benefits on behalf of the plan to participants or beneficiaries during the year (if more than two, enter EINs of the two payors who paid the greatest dollar amounts of benefits):

EIN(s): _______________________________ _______________________________

Profit-sharing plans, ESOPs, and stock bonus plans, skip line 3.

3 Number of participants (living or deceased) whose benefits were distributed in a single sum, during the plan year ............................................................................................................................................................................

3 12345678

4 Is the plan administrator making an election under Code section 412(d)(2) or ERISA section 302(d)(2)? ........................... X Yes X No X N/A

If the plan is a defined benefit plan, go to line 8.

5 If a waiver of the minimum funding standard for a prior year is being amortized in this plan year, see instructions and enter the date of the ruling letter granting the waiver. Date: Month _________ Day _________ Year _________

6 a Enter the minimum required contribution for this plan year (include any prior year accumulated funding

deficiency not waived) ........................................................................................................................................6a -123456789012345

b Enter the amount contributed by the employer to the plan for this plan year ...................................................... 6b -123456789012345

c Subtract the amount in line 6b from the amount in line 6a. Enter the result (enter a minus sign to the left of a negative amount)........................................................................................... 6c -123456789012345

12/31/2015

0

94-0742640

01/01/2015

X


X

13-5160382


001

X

19

Schedule R (Form 5500) 2015 Page 2 - 1 x

Part V Additional Information for Multiemployer Defined Benefit Pension Plans 13 Enter the following information for each employer that contributed more than 5% of total contributions to the plan during the plan year (measured in

dollars). See instructions. Complete as many entries as needed to report all applicable employers.

a Name of contributing employer

b EIN c Dollar amount contributed by employer

d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X and see instructions regarding required attachment. Otherwise, enter the applicable date.) Month _______ Day _______ Year _______

e Contribution rate information (If more than one rate applies, check this box X and see instructions regarding required attachment. Otherwise, complete lines 13e(1) and 13e(2).) (1) Contribution rate (in dollars and cents) _____________ (2) Base unit measure: X Hourly X Weekly X Unit of production X Other (specify):


b EIN c Dollar amount contributed by employer d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X

and see instructions regarding required attachment. Otherwise, enter the applicable date.) Month _______ Day _______ Year _______

e Contribution rate information (If more than one rate applies, check this box X and see instructions regarding required attachment. Otherwise, complete lines 13e(1) and 13e(2).) (1) Contribution rate (in dollars and cents) _____________ (2) Base unit measure: X Hourly X Weekly X Unit of production X Other (specify): _______________________________


b EIN c Dollar amount contributed by employer d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X



a Name of contributing employer b EIN c Dollar amount contributed by employer d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X









1

Schedule R (Form 5500) 2015 Page 3

14 Enter the number of participants on whose behalf no contributions were made by an employer as an employer of the participant for:

a The current year ................................................................................................................................................... 14a 123456789012345

b The plan year immediately preceding the current plan year ................................................................................. 14b 123456789012345

c The second preceding plan year .......................................................................................................................... 14c 123456789012345

15 Enter the ratio of the number of participants under the plan on whose behalf no employer had an obligation to make an employer contribution during the current plan year to:

a The corresponding number for the plan year immediately preceding the current plan year ................................ 15a 123456789012345

b The corresponding number for the second preceding plan year .......................................................................... 15b 123456789012345

16 Information with respect to any employers who withdrew from the plan during the preceding plan year:

a Enter the number of employers who withdrew during the preceding plan year ................................................. 16a 123456789012345

b If line 16a is greater than 0, enter the aggregate amount of withdrawal liability assessed or estimated to be assessed against such withdrawn employers ......................................................................................................

16b 123456789012345

17 If assets and liabilities from another plan have been transferred to or merged with this plan during the plan year, check box and see instructions regarding supplemental information to be included as an attachment. ....................................................................................................................... X

Part VI Additional Information for Single-Employer and Multiemployer Defined Benefit Pension Plans

18 If any liabilities to participants or their beneficiaries under the plan as of the end of the plan year consist (in whole or in part) of liabilities to such participants and beneficiaries under two or more pension plans as of immediately before such plan year, check box and see instructions regarding supplemental information to be included as an attachment ............................................................................................................................................................................ X

19 If the total number of participants is 1,000 or more, complete lines (a) through (c) a Enter the percentage of plan assets held as:

Stock: _____% Investment-Grade Debt: _____% High-Yield Debt: _____% Real Estate: _____% Other: _____% b Provide the average duration of the combined investment-grade and high-yield debt:

X 0-3 years X 3-6 years X 6-9 years X 9-12 years X 12-15 years X 15-18 years X 18-21 years X 21 years or more c What duration measure was used to calculate line 19(b)?

X Effective duration X Macaulay duration X Modified duration X Other (specify):

Part VII IRS Compliance Questions

20a Is the plan a 401(k) plan? ........................................................................................................................................... X Yes X No

20b If “Yes,” how does the 401(k) plan satisfy the nondiscrimination requirements for employee deferrals and employer matching contributions (as applicable) under sections 401(k)(3) and 401(m)(2)? .....................................

XDesign-based safe harbor method

X ADP/ACP test

20c If the ADP/ACP test is used, did the 401(k) plan perform ADP/ACP testing for the plan year using the "current year testing method" for nonhighly compensated employees (Treas. Reg sections 1.401(k)-2(a)(2)(ii) and 1.401(m)-2(a)(2)(ii))? .................................................................................................................................................

X Yes X No

21a Check the box to indicate the method used by the plan to satisfy the coverage requirements under section 410(b): ....................................................................................................................................................................... X

Ratio percentage test

X Average benefit test

21b Does the plan satisfy the coverage and nondiscrimination tests of sections 410(b) and 401(a)(4) by combining this plan with any other plans under the permissive aggregation rules? ...................................................................

X Yes X No

22a Has the plan been timely amended for all required tax law changes? ....................................................................... X Yes X No X N/A

22b Date the last plan amendment/restatement for the required tax law changes was adopted ____/____/____. Enter the applicable code ______ (See instructions for tax law changes and codes).

22c If the plan sponsor is an adopter of a pre-approved master and prototype (M&P) or volume submitter plan that is subject to a favorable IRS opinion or advisory letter, enter the date of that favorable letter _____/_____/_____ and the letter’s serial number ______________.

22d If the plan is an individually-designed plan and received a favorable determination letter from the IRS, enter the date of the plan’s last favorable determination letter _____/_____/______.

23 Is the Plan maintained in a U.S. territory (i.e., Puerto Rico (if no election under ERISA section 1022(i)(2) has been made), American Samoa, Guam, the Commonwealth of the Northern Mariana Islands or the U.S. Virgin Islands)? .....................................................................................................................................................................

X Yes X No

7.056.027.0 3.0

X

X

7.0


FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014, SUPPLEMENTARY INFORMATION AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2015, AND REPORT OF INDEPENDENT AUDITORS

PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN TABLE OF CONTENTS

PAGE REPORT OF INDEPENDENT AUDITORS 1-2

FINANCIAL STATEMENTS:

Statements of Net Assets Available for Benefits as of December 31, 2015 and 2014

3

Statements of Changes in Net Assets Available for Benefits for the years ended December 31, 2015 and 2014

4

Statement of Accumulated Plan Benefits as of December 31, 2014

5

Statement of Changes in Accumulated Plan Benefits for the year ended December 31, 2014

6

Notes to the Financial Statements 7-19

SUPPLEMENTARY INFORMATION AS OF AND FOR THE YEAR ENDED

DECEMBER 31, 2015:

Form 5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year) 20

1

REPORT OF INDEPENDENT AUDITORS To the Participants and Plan Administrator of the Pacific Gas and Electric Company Retirement Plan Report on the Financial Statements We were engaged to audit the accompanying financial statements of the Pacific Gas and Electric Company Retirement Plan (the Plan), which comprise the statement of net assets available for benefits as of December 31, 2015, the related statement of changes in net assets available for benefits for the year then ended, the statement of accumulated plan benefits as of December 31, 2014, and the statement of changes in accumulated plan benefits for the year then ended, and the related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these 2015 financial statements based on conducting the audit in accordance with auditing standards generally accepted in the United States of America. Because of the matter described in the Basis for Disclaimer of Opinion paragraph, however, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the 2015 financial statements. Basis for Disclaimer of Opinion on the 2015 Financial Statements As permitted by 29 CFR 2520.103-8 of the Department of Labor's (DOL’s) Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 (ERISA), the plan administrator instructed us not to perform, and we did not perform, any auditing procedures with respect to the information summarized in Note 7, which was certified by The Bank of New York Mellon/BNY Mellon, N.A., the trustee of the Plan, except for comparing such information with the related information included in the 2015 financial statements. We have been informed by the plan administrator that the trustee holds the Plan's investment assets and executes investment transactions. The plan administrator has obtained a certification from the trustee as of December 31, 2015, and for the year then ended, that the information provided to the plan administrator by the trustee is complete and accurate. Disclaimer of Opinion Because of the significance of the matter described in the Basis for Disclaimer of Opinion on the 2015 Financial Statements paragraph, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion. Accordingly, we do not express an opinion on these 2015 financial statements.

2

Other Matters – Supplementary Information and Report on the 2014 Financial Statements The Schedule H, Part IV, Line 4(i) – Schedule of Assets (Held at End of Year) as of December 31, 2015, is required by the DOL's Rules and Regulations for Reporting and Disclosure under ERISA and is presented for the purpose of additional analysis and is not a required part of the financial statements. Because of the significance of the matter described in the Basis for Disclaimer of Opinion paragraph, we do not express an opinion on this supplementary information. We have audited the accompanying financial statements of the Plan, which comprise the statement of net assets available for benefits as of December 31, 2014, and in our report dated September 30, 2015, we expressed our opinion that such financial statement presents fairly, in all material respects, net assets available for benefits of the Plan as of December 31, 2014, the changes in net assets available for benefits for the year ended December 31, 2014, the accumulated plan benefits of the Plan as of December 31, 2013 and the changes in accumulated plan benefits for the year ended December 31, 2013, in accordance with accounting principles generally accepted in the United States of America. Report on Form and Content in Compliance with DOL Rules and Regulations for 2015 Financial Statements The form and content of the information included in the 2015 financial statements and supplementary information, other than that derived from the information certified by the trustee, have been audited by us in accordance with auditing standards generally accepted in the United States of America and, in our opinion, are presented in compliance with the DOL’s Rules and Regulations for Reporting and Disclosure under ERISA.

Campbell, California October 5, 2016

3

PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS (in thousands)

Balance At December 31,

2015 2014

ASSETS

Investment in Master Trust $ 13,738,292 $ 14,205,023

Net assets held in 401(h) account 200,467 175,521 13,938,759 14,380,544

Receivables:

Employer contributions 240,345 240,566

Total assets 14,179,104 14,621,110

LIABILITIES

Amounts related to obligations of 401(h) account 200,467 175,521

NET ASSETS AVAILABLE FOR PLAN BENEFITS $ 13,978,637 $ 14,445,589

See accompanying Notes to the Financial Statements.

4

PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS (in thousands)

Years ended December 31,

2015 2014

ADDITIONS TO NET ASSETS ATTRIBUTABLE TO:

Employer contributions $ 327,000 $ 327,001

Plan interest in Master Trust investment income (loss) (172,414) 1,941,372

TOTAL ADDITIONS 154,586 2,268,373

DEDUCTIONS FROM NET ASSETS ATTRIBUTABLE TO:

Benefit distributions to participants 585,895 547,711

Administrative and other expenses 35,643 36,022

TOTAL DEDUCTIONS 621,538 583,733

NET INCREASE (DECREASE) (466,952) 1,684,640

NET ASSETS AVAILABLE FOR PLAN BENEFITS

Beginning of year 14,445,589 12,760,949

End of year $ 13,978,637 $ 14,445,589


5

PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN STATEMENT OF ACCUMULATED PLAN BENEFITS (in thousands)


2014

ACCUMULATED PLAN BENEFITS

VESTED BENEFITS:

Participants currently receiving payments $ 6,335,572

Other participants 4,807,408

Total vested benefits 11,142,980

NONVESTED BENEFITS 138,770

TOTAL ACCUMULATED PLAN BENEFITS $ 11,281,750


6

PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN STATEMENT OF CHANGES IN ACCUMULATED PLAN BENEFITS (in thousands)

Year ended December 31,

2014

INCREASE (DECREASE) ATTRIBUTABLE TO:

Benefits accumulated $ 323,155

Benefits paid (547,711)

Interest on discounted accumulated benefit obligations 660,126

Actuarial gain (19,248)

Change in plan benefits from amendments 3,382

Change in assumptions 436,706

NET INCREASE 856,410

ACCUMULATED PLAN BENEFITS

Beginning of year 10,425,340

End of year $ 11,281,750


7

PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN NOTES TO THE FINANCIAL STATEMENTS

NOTE 1: DESCRIPTION OF PLAN The following is a brief description of the Pacific Gas and Electric Company Retirement Plan (“Plan”). The Pacific Gas and Electric Company Retirement Plan document (“Plan Document”) provides a more complete description of the Plan’s provisions. General - The Plan was established on January 1, 1937, and has been amended periodically since that date. The Plan provides retirement benefits primarily for employees of Pacific Gas and Electric Company (“Utility”) and their beneficiaries. Employees of certain affiliated companies including its parent company, PG&E Corporation, are also covered under the Plan along with their beneficiaries. The Plan is subject to certain requirements of the Internal Revenue Code (“IRC” or “Code”), as amended, and the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended. The Employee Benefit Committee (“EBC”) provides corporate governance and oversight over the administration and financial management of affiliated company employee benefit plans. The EBC retains Willis Towers Watson as the Plan’s actuary (“Actuary”) and The Bank of New York Mellon/BNY Mellon, N.A. as the trustee (“Trustee”) of the Pacific Gas and Electric Company Retirement Plan Master Trust (“Master Trust”). The Plan is the only participant in the Master Trust for the years ended December 31, 2015 and 2014. Eligibility - All employees of the Utility and participating affiliated companies are eligible to participate in the Plan, subject to vesting provisions as defined in the Plan Document. Funding - The Plan is funded by contributions from the Utility and PG&E Corporation based on the EBC’s funding policy, which is to contribute amounts that are tax-deductible and consistent with applicable regulatory decisions and federal minimum funding requirements. The CPUC has authorized revenues based on contributions to the Retirement Plan trust of $327 million in each of 2015 and 2014. In addition, the CPUC allows the Utility to request approval to increase the annual contributions should the funded status of the Plan fall below 85%. Under Internal Revenue Service (“IRS”) regulations, the Utility is able to contribute funds during the current year and attribute the contributions to the prior plan year. PG&E Corporation and the Utility made total contributions of approximately $327 million in each of 2015 and 2014, as allowed under IRS regulations. The funding requirements under ERISA were met for the 2015 plan year. As of January 1, 2015, the Plan was over-funded on an ERISA funding basis by approximately 28%. 401(h) Account – The Plan includes a medical benefit component in addition to the normal retirement benefits to fund a portion of the postretirement obligations for retirees and their beneficiaries (the “Health Care Plan”) in accordance with Section 401(h) of the IRC. A separate account has been established and maintained in the Plan for the net assets related to the medical benefit component (401(h) account) comprised primarily of commingled funds. In accordance with IRC Section 401(h), the Plan’s investments in the 401(h) account may not be used for, or diverted to, any purpose other than providing health benefits for retirees and their beneficiaries. The related obligations for health benefits are not included in this Plan’s obligations in the statement of accumulated plan benefits but are recorded as obligations of the Health Care Plan. Plan participants do not contribute to the 401(h) account. Employer contributions to the 401(h) account are determined annually, are at the discretion of the Plan sponsor and are not recorded as contributions in this Plan’s statements of changes in net assets available for benefits.

8

Pension Benefits and Vesting – Plan benefits are determined based on benefit provisions described in either Part I or Part II of the Plan Document for employees hired before 2013: Part I for non-union represented employees and Part II for union represented employees. Generally, under Parts I and II of the Plan, retirement benefits are based on the: (1) age of the participant, (2) years of credited service, and (3) participant’s base salary. For all Utility employees, and for employees of PG&E Corporation and PG&E Corporation Support Services, Inc., eligible to participate in the Plan prior to April 1, 2007, “years of credited service” is calculated beginning with the employee’s original hire date. For PG&E Corporation employees and employees of certain affiliated companies eligible to participate in the Plan beginning April 1, 2007, “years of credited service” is calculated beginning with the later of April 1, 2007 or the employee’s original hire date. Upon completion of five years of service or attaining age 55, each employee has a vested right to receive a pension commencing on the first day of any month following his or her 55th birthday (a pension benefit received by an eligible participant who is between the age of 55 and 65 is considered an early retirement benefit). A participant’s normal retirement date is the first day of the month following his or her 65th birthday. Effective January 1, 2013, the Plan was amended to include a Part III to the Plan that describes the new cash balance benefit provisions applicable to both management and union-represented populations eligible for the cash balance benefit. Generally, employees hired or re-hired on or after January 1, 2013, are eligible to participate in Part III of the Plan. Employees hired prior to January 1, 2013, were given a one-time opportunity to choose to participate in Part III of the Plan prospectively, effective as of January 1, 2014. Generally, upon completion of three years of service or attaining age 55, employees participating in Part III of the Plan have a vested right to receive a pension benefit under the Plan. Benefits under the cash balance formula under Part III of the Plan are determined based on the (1) accumulated pay credits based on a percentage of a participant’s base salary credited on the last day of each year, and (2) quarterly interest credits based on 30-year Treasury rates. Contributions under Part III are credited on January 1, for benefits earned by participants in the previous year. Forms of Pension - Participants can choose one of three options at retirement: (1) basic pension, (2) joint pension with spouse, and (3) joint pension with non-spouse.

Basic Pension - The amount payable beginning on the participant’s benefit commencement date which continues on the first day of each month for the remainder of the participant’s lifetime. Joint Pension with Spouse - For participants who are married on their retirement date, a marital pension, which provides a survivor benefit of at least one-half of the reduced basic pension paid to the participant, and will continue to the spouse for the remainder of the spouse’s life. In lieu of the marital pension, married participants may elect with the consent of their spouse from three options: the basic pension, a joint pension with a spouse of less than half of the reduced basic pension, or a joint pension with a non-spouse. Joint Pension with Non-Spouse - For participants who are unmarried on the retirement date, a basic pension, which terminates on the participant’s death, is the normal form of pension provided. However, participants may elect a joint pension with a non-spouse, which reduces the amount of the participant’s basic pension in exchange for continued payments to the non-spouse beneficiary for the remainder of that person’s lifetime. In addition, participants with a benefit payable under Part III of the Plan have the option to receive their vested and accrued benefit under Part III of the Plan as a one-time lump sum payment.

Lump-sum Distributions - Participants with a vested benefit that has a present value of less than $5,000 at the date of severance from service or retirement, must receive a single lump-sum distribution either in cash or as a rollover to another qualified plan or account. A participant with a vested benefit that has a present value of more than $1,000 but less than $5,000 and who does not make a distribution election, will have his or her benefit automatically rolled over into an individual retirement account designated by the Plan. A participant with a vested benefit that has a present value of less than $1,000 and who does not make a distribution election will have his or her benefit automatically paid in cash. In addition, participants with a benefit payable under Part III of the Plan have the option to receive their vested and accrued benefit under Part III of the Plan as a one-time lump sum payment.

9

Pre-Retirement Survivor’s Pension - The Plan provides for a spouse’s pension upon the death of a currently employed participant if they were at least age 55 or if the sum of their age and years of credited service is equal to or greater than 70. In compliance with the Retirement Equity Act of 1984, the Plan also provides for a survivor’s benefit for spouses or designated beneficiaries of participants who die before age 55 with more than five years of credited service. This benefit is payable to the surviving spouse or designated beneficiaries, on the first day of the month following the later of (i) the date of death or (ii) the month in which the deceased participant or former employee would have attained his 55th birthday. Administrative Expenses - The Utility pays certain costs of administering the Plan. Investment management fees, trustee fees, and other administrative expenses of the Master Trust are paid from trust assets. Plan Termination and Merger - The Utility’s Board of Directors reserves the right to amend or terminate the Plan at any time, subject to the provisions of ERISA and the applicable collective bargaining agreements. In the event the Plan is partially terminated, terminated, or suspended, all employer contributions with respect to the affected participants shall cease and the accrued benefits of the affected participants shall become nonforfeitable. Subject to applicable requirements of notice to the Pension Benefit Guaranty Corporation (“PBGC”) governing the termination of pension benefit plans, the funds held under the Plan by the Trustee shall be applied to provide the pensions accrued to the date of termination or suspension. At such time, the EBC shall direct the purchase of paid-up annuities, distribution installments, or lump-sum distributions, in conformance with the requirements and priorities established by various governmental agencies that oversee plan suspensions and terminations. Vested benefits are guaranteed by the PBGC upon termination of the Plan. The maximum payments made by the PBGC for terminations they guaranteed during 2015 and 2014 are both $5,011 per month. The maximum payments apply to those participants who elect to receive their benefits in the form of a single-life annuity and are at least 65 years old at the time of retirement or plan termination, whichever comes later. Any funds remaining with the Trustee after termination, and after all liabilities for the payment of pension benefits to the date of termination have been satisfied or provided for, shall be returned to the Utility, net of applicable taxes. No Plan changes may be made that would adversely affect the rights that any participant, retired employee, former employee, spouse, joint pensioner, or beneficiary may have with respect to funds then being held by the Trustee. Those funds may not revert to an employer or be used for any purpose except for the exclusive benefit of participants, pensioners and their spouses, joint pensioners, and beneficiaries. The Plan may not be merged into or consolidated with any other plan nor may any of its assets or liabilities be transferred to any other plan, unless, the benefit received by each Plan participant under such other plan (assuming such other plan were then to terminate) would be equal to or greater than the benefit such participant would have been entitled to receive immediately before such merger, consolidation, or transfer. Related Party Transactions - The Master Trust’s investments may include shares of the Trustee’s common stock, shares of a short-term investment fund managed by the Trustee, and shares of PG&E Corporation’s common stock. These transactions qualify as party-in-interest transactions under ERISA. As of December 31, 2015 and 2014, there were no material party-in-interest transactions. NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting - The accompanying financial statements of the Plan have been prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”). Use of Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and changes therein, and the disclosure of contingencies. Actual results could differ from these estimates.

10

Investment Valuation - Investments in the Master Trust are stated at fair value. The Plan’s management determines the fair value of certain assets and liabilities based on assumptions that market participants would use in pricing the assets or liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, or the “exit price.” The Plan’s management utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value and gives precedence to observable inputs in determining fair value. An instrument’s level within the hierarchy is based on the lowest level of any significant input to the fair value measurement. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Income Recognition of the Master Trust - Interest income is recorded on an accrual basis; dividends are recorded on the ex-dividend date, which is two business days before the declared date of record. Net appreciation or depreciation in fair value of investments consists of: (1) the net change in unrealized appreciation or depreciation on investments held during the year, and (2) the realized gain or loss recognized on the sale of investments during the year. Purchases and sales of securities are recorded on a trade date basis. Realized gains and losses from security transactions are calculated on an average cost basis. Accumulated Plan Benefits - The Plan measures accumulated plan benefits at the beginning of the Plan year. The Plan’s Actuary estimates the accumulated plan benefits in accordance with generally accepted actuarial principles and practices. Accumulated plan benefits represent the actuarially estimated present value of future periodic payments, including lump-sum distributions that are attributable under the Plan’s provisions to service rendered by the employees to the valuation date. Accumulated plan benefits include benefits expected to be paid to (a) retired or terminated employees or their beneficiaries, and (b) present employees or their beneficiaries. Benefits payable under all circumstances (retirement, death, disability, and termination of employment) are included to the extent that they are deemed attributable to employee service rendered on or prior to the valuation date. The present value of such accumulated plan benefits is calculated by adjusting the total estimated future periodic payments to reflect (1) the time value of money (through discounts of interest), and (2) the probability of payment (by means of decrements such as for death, disability, withdrawal or retirement) between the valuation date and the expected date of payment. Significant assumptions underlying the actuarial valuation are as follows:

Plan Year Beginning Assumption December 31, 2014 December 31, 2013

Expected Return on assets 6.2 percent 6.5 percent Discount rate 4.00 percent 4.89 percent

Mortality RP-2014 without collar adjustments

RP-2000 without collar adjustments

Average retirement age Rates vary by age, service and union status; average age 62

Rates vary by age, service and union status; average age 62

These actuarial assumptions are based on the presumption that the Plan will continue. If the Plan is terminated, different actuarial assumptions and other factors might be applicable in determining the actuarial present value of accumulated plan benefits.

11

Actuarial assumptions that changed during the year resulted in an increase to accumulated plan benefits. The increase to accumulated plan benefits was due to a decrease of 30 basis points in the discount rate from 2014 to 2015, partially offset by a decrease in actual return on assets. As a result of the Pension Protection Act of 2006, the discount rate is based on the yield curve dictated by the IRS which is used to determine the IRS minimum required and maximum deductible contribution as well as a “recommended contribution” level based on ERISA funding requirements. Payment of Benefits - Benefit payments to participants are recorded upon distribution. Recently Adopted Accounting Guidance – In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-12, Plan Accounting: Defined Contribution Pension Plans (Topic 962) I. Fully Benefit-Responsive Investment Contracts; II. Plan Investment Disclosures, and III. Measurement Date Practical Expedient. Part I requires fully benefit-responsive investment contracts to be measured, presented, and disclosed only at contract value. Part II eliminates the requirements for plans to disclose individual investments that represent 5 percent or more of net assets available for benefits, and the net appreciation or depreciation for investments by general type for both participant-directed investments and nonparticipant-directed investments. Part II also requires that investments be grouped only by general type, eliminating the need to disaggregate the investments by nature, characteristics and risks. Part III provides a practical expedient to permit plans to measure investments and investment-related accounts as of a month-end date that is closest to the plan's fiscal year-end, when the fiscal period does not coincide with a month-end. The ASU is effective for fiscal years beginning after December 15, 2015. The Utility adopted this standard for plan year 2015. Parts I and II have been applied retrospectively, and Part III prospectively. The adoption of this standard did not impact the Statement of Net Assets or Statement of Changes in Net Assets. Accounting Standards Issued But Not Yet Adopted – In May 2015, the FASB issued ASU No. 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), which standardizes reporting practices related to the fair value hierarchy for all investments for which fair value is measured using the net asset value per share. The accounting standards update will be effective for fiscal years beginning after December 15, 2015. PG&E Corporation is currently evaluating the impact the guidance will have on disclosures and will adopt this standard beginning plan year 2016. NOTE 3: INVESTMENTS IN MASTER TRUST The Plan invests its assets in the Master Trust. The Master Trust’s investments are managed by the Trustee and various investment managers who have discretionary investment authority over the investments within established guidelines. The EBC is responsible for the selection of the Master Trust’s investment managers, but not the selection of the underlying investments. Neither the EBC nor the Utility is involved in the Master Trust investment fund’s day-to-day investment operations. The Master Trust utilizes various investment instruments. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities could occur in the near term and such changes could materially affect the amounts reported in the financial statements.

12

The net assets of the Master Trust are as follows:


(in thousands) 2015 2014

MASTER TRUST ASSETS

U.S. government securities $ 2,040,917 $ 2,410,434

Corporate debt instruments 3,674,311 4,348,076

Corporate stocks 1,406,467 1,441,179

Partnership/joint venture interests 370,161 286,130

Common collective trusts 4,688,511 3,954,562

Pooled separate accounts 652,158 642,918

Registered investment companies 369,259 324,778

Other 556,370 777,676

Total investments 13,758,154 14,185,753

Receivables:

Investments sold 19,483 21,713

Foreign currency contracts 1,181,245 1,292,951

Interest and dividends 76,745 76,894

Other 35 259

Total receivables 1,277,508 1,391,817

Total Master Trust Assets 15,035,662 15,577,570

MASTER TRUST LIABILITIES

Investments purchased 104,118 59,036

Foreign currency contracts 1,185,095 1,279,826

Other 8,157 33,685

Total Master Trust Liabilities 1,297,370 1,372,547

NET MASTER TRUST ASSETS AVAILABLE FOR BENEFITS $13,738,292 $14,205,023

13

The net investment income (loss) of the Master Trust is as follows:

Year ended December 31,

(in thousands) 2015 2014

Net appreciation (depreciation) in fair value of investments $ (508,116) $ 1,584,214

Dividends 76,092 71,257

Interest income 259,046 282,461

Other income 564 3,440

Net investment income (loss) $ (172,414) $ 1,941,372 NOTE 4: DERIVATIVES The EBC adopted a “Position Statement on Risk Management” that applies to the Master Trust. This statement recognizes that guidelines for certain plan investment managers allow the use of derivative instruments to achieve investment objectives. It is the investment managers’ responsibility to understand the potential impact of derivative instruments on the total portfolio under various market risk scenarios and to comply with these guidelines. As with other marketable securities, all derivatives are recorded at fair value. Derivatives are subject to risks which include the possible inability of the counterparty to meet the terms of the contracts (counterparty risk), and adverse market movements (market risk). During the years ended December 31, 2015 and 2014, the following types of derivative instruments were used in the Master Trust: Foreign Currency Contracts - The Plan’s international equity portfolio includes equity securities denominated in foreign currencies. The EBC has retained an investment manager to hedge a portion of the foreign currency risk associated with these securities. Consistent with this strategy, the investment manager enters into forward foreign currency agreements to exchange foreign currencies at a specified future date and at a specified rate. The Trustee’s commitments to buy and sell foreign currencies on behalf of the Master Trust totaled approximately $1.2 billion and $1.3 billion at December 31, 2015 and December 31, 2014, respectively. Commitments at December 31, 2015 expire through March 2016. Futures Contracts - The Plan’s futures contracts are used to maintain existing equity exposure while adding exposure to fixed-income securities. In addition, the equity index futures and fixed income futures are used to rebalance the fixed income/equity allocation of the pension’s portfolio. At December 31, 2015 and 2014, the Master Trust’s notional exposure related to these derivatives was approximately $1.6 billion and $1.8 billion, respectively. Interest Rate and Credit Default Swaps - The Plan’s fixed income portfolio includes interest rate and credit default swaps. Interest rate swaps involve an agreement to exchange periodic interest payment streams (typically fixed vs. variable) calculated on an agreed upon periodic interest rate multiplied by a predetermined notional principal amount. Risk arises from movements in interest rates (market risk). Credit default swaps involve an arrangement with a counterparty to exchange a premium to compensate for losses upon the occurrence of a specified credit event. Risk may arise as a result of the failure of the counterparty to the swap contract to comply with the terms of the swap contract. At December 31, 2015 and 2014, the Master Trust’s notional exposure related to these swaps was approximately $149 million and $45 million, respectively.

14

In the Plan’s Statement of Net Assets, all derivative financial instruments are carried at fair value. The fair value of the Plan’s derivative financial instruments are as follows:

(In thousands, except for number of contracts)

Asset derivatives

December 31, 2015

Liability derivatives

December 31, 2015

Type of Exposure Fair Value Type of Exposure Fair Value Number of Open

Contracts

Cash equivalents Cash equivalents

Foreign Currency $ 5,284 Foreign Currency $ 7,296 100

Other Assets Other Assets

Interest Rate Swap 658 Interest Rate Swap 1,282 25

Credit Default Swap - Credit Default Swap 121 6

Futures 9,084 Futures 6,822 72

(In thousands, except for number of contracts)

Asset derivatives

December 31, 2014

Liability derivatives

December 31, 2014

Type of Exposure Fair Value Type of Exposure Fair Value Number of Open

Contracts

Cash equivalents Cash equivalents

Foreign Currency $ 2,624 Foreign Currency $ 9,474 114

Other Assets Other Assets

Interest Rate Swap 1,537 Interest Rate Swap 2,845 9

Credit Default Swap 4,470 Credit Default Swap 4,645 2

Futures 35,905 Futures 10,299 68

The Plan’s derivative instruments are fully collateralized. Therefore the Plan is not required to post any additional collateral associated with any credit events.

15

NOTE 5: FAIR VALUE MEASUREMENTS A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value:

Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2: Include other inputs that are directly or indirectly observable in the marketplace.

Level 3: Unobservable inputs which are supported by little or no market activities. The following tables present the fair value of plan assets and liabilities by major asset category as of December 31, 2015 and 2014:

Fair Value Measurements as of December 31, 2015

Assets

(in thousands) Level 1 Level 2 Level 3 Total

Short-Term Investments $ 248,407 $ 376,704 $ - $ 625,111

Global Equity 903,337 2,242,672 - 3,146,009

Absolute Return 1 - 659,760 659,761

Real Assets 585,830 4 752,569 1,338,403

Fixed Income 1,841,335 5,523,077 640,293 8,004,705

Pension Plan Subtotal $ 3,578,910 $ 8,142,457 $ 2,052,622 $ 13,773,989

401(h) account:

Short-Term Investments 5,238 - - 5,238

Global Equity - 141,944 - 141,944

Fixed Income - 53,310 - 53,310

401(h) Subtotal $ 5,238 $ 195,254 $ - $ 200,492

Total Assets $ 3,584,148 $ 8,337,711 $ 2,052,622 $ 13,974,481

Liabilities



Real Assets 4,704 - - 4,704

Fixed Income 301 1,488 - 1,789

Total Liabilities $ 6,836 $ 8,999 $ - $ 15,835

16

Fair Value Measurements as of December 31, 2014

Assets



Global Equity 917,854 2,310,707 - 3,228,561

Real Assets - - 576,502 576,502

Absolute Return 628,732 - 675,211 1,303,943

Fixed Income 2,068,220 5,726,827 637,804 8,432,851

Pension Plan Subtotal $ 3,967,552 $ 8,349,980 $ 1,889,517 $ 14,207,049

401(h) account:

Short-Term Investments 3,524 - - 3,524

Global Equity - 125,164 - 125,164

Fixed Income - 46,855 - 46,855

401(h) Subtotal $ 3,524 $ 172,019 $ - $ 175,543

Total Assets $ 3,971,076 $ 8,521,999 $ 1,889,517 $ 14,382,592

Liabilities



Real Assets 8,814 - - 8,814

Fixed Income 270 9,912 - 10,182

Total Liabilities $ 10,299 $ 10,997 $ - $ 21,296 The following describes the valuation techniques used to measure the fair value of the assets and liabilities shown in the table above. All investments that are valued using a net asset value per share can be redeemed quarterly with a notice not to exceed 90 days. Short-Term Investments – Short-term investments consist primarily of commingled funds across government, credit, and asset-backed sectors. These securities are categorized as Level 1 and Level 2 assets. Global Equity – The global equity category includes investments in common stock, equity-index futures, and commingled funds comprised of equity securities spread across multiple industries and regions of the world. Equity investments in common stock are actively traded on public exchanges and are therefore considered Level 1 assets. These equity investments are generally valued based on unadjusted prices in active markets for identical securities. Equity-index futures are valued based on unadjusted prices in active markets and are Level 1 assets. Commingled equity funds are valued using a net asset value per share and are maintained by investment companies for large institutional investors and are not publicly traded. Commingled equity funds are comprised primarily of underlying equity securities that are publicly traded on exchanges, and price quotes for the assets held by these funds are readily observable and available. Commingled equity funds are categorized as Level 1 and Level 2 assets. Real Assets – The real asset category includes portfolios of commodity futures, global REITS, global listed infrastructure equities, and private real estate funds. The commodity futures, global REITS, and global listed infrastructure equities are actively traded on a public exchange and are therefore considered Level 1 assets. Private real estate funds are valued using a net asset value per share derived using appraisals, pricing models, and valuation inputs that are unobservable and are considered Level 3 assets. Absolute Return – The absolute return category includes portfolios of hedge funds that are valued using a net asset value per share based on a variety of proprietary and nonproprietary valuation methods, including unadjusted prices for publicly-traded securities in active markets. Hedge funds are considered Level 3 assets.

17

Fixed Income – The fixed-income category includes U.S. government securities, corporate securities, and other fixed-income securities.

U.S. government fixed-income primarily consists of U.S. Treasury notes and U.S. government bonds that are valued based on quoted market prices or evaluated pricing data for similar securities adjusted for observable differences. These securities are categorized as Level 1 or Level 2 assets.

Corporate fixed-income primarily includes investment grade bonds of U.S. issuers across multiple industries that are valued based on a compilation of primarily observable information or broker quotes in non-active markets. The fair value of corporate bonds is determined using recently executed transactions, market price quotations (where observable), bond spreads or credit default swap spreads obtained from independent external parties such as vendors and brokers adjusted for any basis difference between cash and derivative instruments. These securities are classified as Level 2 assets. Corporate fixed-income also includes commingled funds that are valued using a net asset value per share and are comprised of corporate debt instruments. Commingled funds are considered Level 2 assets. Corporate fixed-income also includes privately placed debt portfolios which are valued using a net asset value per share using pricing models and valuation inputs that are unobservable and are considered Level 3 assets.

Other fixed-income primarily includes pass-through and asset-backed securities. Pass-through securities are valued based on observable market inputs and are Level 2 assets. Asset-backed securities are primarily valued based on broker quotes and are considered Level 2 assets. Other fixed-income also includes municipal bonds and Treasury futures. Municipal bonds are valued based on a compilation of primarily observable information or broker quotes in non-active markets and are considered Level 2 assets. Futures are valued based on unadjusted prices in active markets and are Level 1 assets. Transfers Between Levels Any transfers between levels in the fair value hierarchy are recognized as of the end of the reporting period. No material transfers between levels occurred in the years ended December 31, 2015 and 2014. Level 3 Rollforward The following tables are a reconciliation of changes in fair value of instruments that have been classified as Level 3 for the years ended December 31, 2015 and 2014:

(in thousands) Fixed Income Absolute Return Real Assets Total

Asset Balance as of December 31, 2013 $ 624,580 $ 554,300 $ 543,521 $ 1,722,401 Realized gains (losses) 3,770 - 61 3,831 Unrealized gains 24,532 22,202 54,600 101,334

Purchases 1,216 - 78,398 79,614

Settlements (16,294) - (1,369) (17,663)

Asset Balance as of December 31, 2014 $ 637,804 $ 576,502 $ 675,211 $ 1,889,517

Realized gains (losses) 949 - 83 1,032 Unrealized gains 9,520 (6,742) 61,558 64,336

Purchases 2,250 90,000 17,235 109,485 Settlements (10,230) - (1,518) (11,748)

Asset Balance as of December 31, 2015 $ 640,293 $ 659,760 $ 752,569 $ 2,052,622

18

The Utility’s Investments and Benefit Finance department (IBF), which reports to the Treasurer is responsible for determining the fair value of the pension’s investments. Valuations for Level 3 investments are typically carried out by third-party appraisers or administrators. IBF periodically reviews the processes, personnel and service providers involved in developing the fair value of the Level 3 investments. In addition, period to period changes in fair value are assessed for reasonableness by comparing them to appropriate market benchmarks or changes reported by investment managers employing similar strategies. NOTE 6: TAX STATUS The Plan obtained its latest determination letter on May 20, 2014, in which the Internal Revenue Service stated that the plan, as then designated, was in compliance with the applicable requirements of the Internal Revenue Code and is exempt from federal income taxes. Accordingly, no provision for federal income taxes has been made in the accompanying financial statements. The EBC, as Plan Administrator, believes that the Plan continues to be designed and operated in accordance with the applicable requirements of the Code. Plan management evaluates tax positions taken and recognizes a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. No uncertain positions have been identified that would require recognition of a liability (or asset) or disclosure in the financial statements as of December 31, 2015. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. NOTE 7: CERTIFIED INFORMATION The Plan administrator has elected the method of compliance permitted by 29 CFR 2520.103-8 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under ERISA. Accordingly, the Trustee of the Plan, has certified to the completeness and accuracy of:

Plan’s interest in the Master Trust and 401(h) account reflected on the accompanying statement of net assets available for benefits as of December 31, 2015.

Net investment loss from the Master Trust, reflected on the accompanying statement of changes in net assets available for benefits for the years ended December 31, 2015.

Investments held in the Master Trust as of December 31, 2015 as disclosed in Note 3.

Net investment and other income reflected on the changes in net assets of the Master Trust for the year ended December 31, 2015 in Note 3.

Investments reflected on the schedule of assets (held at end of year).

NOTE 8: RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 Following is a reconciliation of the net assets available for benefits between the financial statements and the Form 5500:

(in thousands) At December 31, 2015 At December 31, 2014

Net assets available for benefits per the financial statements $ 13,978,637 $ 14,445,589

401(h) account net assets included as assets in the Form 5500 200,467 175,521

Net assets available for benefits per the Form 5500 $ 14,179,104 $ 14,621,110

The net assets of the 401(h) account included in the Form 5500 are not available to pay pension benefits but can only be used to pay retiree medical benefits.

19

The following is a reconciliation of the changes in net assets per the financial statements to the Form 5500 for the year ended December 31, 2015:

(in thousands) Amounts per the

financial statements 401(h) account Amounts per the

Form 5500

Investment loss $ (172,414) $ (2,244) $ (174,658)

Contributions $ 327,000 $ 40,495 $ 367,495

Benefits paid to participants $ (585,895) $ (12,524) $ (598,419)

Administrative and other expenses $ (35,643) $ (781) $ (36,424) NOTE 9: SUBSEQUENT EVENTS In preparing the financial statements, transactions and events were evaluated for potential recognition. Plan management determined that there are no subsequent transactions and events that require disclosure to or adjustment in the financial statements.

20

PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN EIN #: 94-0742640 PLAN #: 001 FORM 5500, SCHEDULE H, PART IV, LINE 4i – SCHEDULE OF ASSETS HELD AS OF DECEMBER 31, 2015 (in thousands, except share amounts)

(a) (b) (c) (d) (e)

Name of Issuer

Description of

Investment Number of

Shares Cost Current Value

401(h) Account:

Collective U.S. Government STIF 15 BPS

Short-Term Investments 5,237,863 $5,238 $5,238

BlackRock Long Duration

AlphaCredit Fund Fixed Income

3,130,658 51,421 53,310

BlackRock Russell 3000 Index Fund

Global Equity

3,911,012 76,670 87,275

BlackRock’s Russell Developed Ex-

U.S. Large Cap Index Non-Lendable Fund

Global Equity

4,844,396 54,133 54,669

TOTAL INVESTMENTS

17,123,929 $187,462 $200,492

******

SCHEDULE SB ATTACHMENTS

Plan Name: Pacific Gas and Electric Company Retirement Plan EIN / PN: 94-0742640 / 001 Plan Sponsor: PG&E VRS: 1/1/2015 AFTAP with 7/15/16 contribution Valuation Date: January 1, 2015

1

Schedule SB, Line 26

Schedule of Active Participant Data as of January 1, 2015

Years of Credited Service

Under 1 1 to 4 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 to 34 35 to 39 40 & Over

Attained Age

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

Under 25 131 67,628 251 77,405 4 0 0 0 0 0 0 0

25 - 29 374 76,675 1,200 84,271 305 98,261 8 0 0 0 0 0 0

30 - 34 397 84,764 1,445 90,214 1,043 103,456 417 105,555 0 0 0 0 0 0

35 - 39 225 95,363 957 96,901 853 106,343 884 108,092 63 105,727 2 0 0 0 0

40 - 44 162 102,280 674 101,704 614 110,055 708 106,099 248 113,727 89 110,746 17 0 0 0

45 - 49 129 107,379 485 109,495 363 112,562 557 106,435 216 116,132 369 116,333 207 117,459 69 118,397 0 0

50 - 54 74 106,634 412 118,436 296 123,170 389 104,316 233 119,654 329 117,851 632 119,739 782 116,432 82 107,161 0

55 - 59 55 111,388 296 117,552 196 120,956 256 107,442 185 115,403 229 114,303 494 118,784 988 118,390 784 110,233 34 111,667

60 - 64 25 114,648 120 121,862 96 118,109 126 107,125 93 112,601 121 105,845 225 116,610 397 111,524 454 111,790 289 110,741

65 - 69 3 27 155,826 31 121,151 46 110,789 30 111,226 33 108,059 53 121,257 54 110,366 79 106,877 113 108,867

70 & Over 0 2 5 15 3 3 11 10 5 25 105,113


Plan Name: Pacific Gas and Electric Company Retirement Plan EIN / PN: 94-0742640 / 001 Plan Sponsor: PG&E VRS: 1/1/2015 AFTAP with 7/15/16 contribution Valuation Date: January 1, 2015

2


Schedule of Active Participant Data for Cash Balance Plans as of January 1, 2015

Years of Credited Service

Under 1 1 to 4 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 to 34 35 to 39 40 & Over

Attained Age

No.

Avg. Bal.

No.

Avg. Bal.

No.

Avg. Bal.

No.

Avg. Bal.

No.

Avg. Bal.

No.

Avg. Bal.

No.

Avg. Bal.

No.

Avg. Bal.

No.

Avg. Bal.

No.

Avg. Bal.

Under 25 131 1,460 145 4,162 0 0 0 0 0 0 0 0

25 – 29 374 1,722 488 5,121 14 0 0 0 0 0 0 0

30 – 34 397 2,020 567 5,613 43 4,667 4 0 0 0 0 0 0

35 - 39 225 2,320 356 6,548 31 5,879 15 2 0 0 0 0 0

40 - 44 162 3,159 247 8,093 20 7,924 9 3 3 1 0 0 0

45 - 49 129 3,256 162 9,250 16 8 8 5 2 1 0 0

50 - 54 74 3,839 147 10,628 12 3 2 7 4 5 2 0

55 - 59 55 3,758 103 10,934 10 2 3 2 2 3 6 0

60 - 64 25 5,055 39 11,798 4 5 0 2 1 3 2 3

65 - 69 3 12 2 2 2 1 0 0 0 2

70 & Over 0 2 1 4 0 0 0 1 0 2


Plan Name: Pacific Gas and Electric Company Retirement Plan EIN / PN: 94-0742640 / 001 Plan Sponsor: Pacific Gas and Electric Company Valuation Date: January 1, 2015 http://natct.internal.towerswatson.com/clients/602979/2016RetirementProjects/Documents/4.%202015%20Schedule%20SB%20Attachment%20-%20Part%20V%20-%20Statement%20of%20Actuarial%20Assumptions%20and%20Methods.docx

Schedule SB, Part V Statement of Actuarial Assumptions/Methods

as of January 1, 2015

Assumptions and methods for contribution purposes

Economic Assumptions

Interest rate basis1:

Applicable month September 2014

Yield curve basis Segment rates

Interest rates: Reflecting Corridors

Not Reflecting Corridors

First segment rate - 10-year rate 4.72% 1.15%

Second segment rate - 20-year rate 6.11% 4.06%

Third segment rate - 30-year rate 6.81% 5.15%

Effective interest rate 6.29% 4.40%

Cash Balance interest crediting rate2 5.09% N/A

Annual rates of increase

Compensation:

Representative rates Age

25 40 55

7.70% 4.70% 3.20%

10.00% 5.40% 4.00%

─ Management

─ Union

Weighted average 4.00%

Future Social Security wage bases 3.00%

Statutory limits on compensation

Administrative Expenses

N/A

$9,000,000

1 Interest rate assumptions for contribution purposes reflect the provisions of the MAP-21 bill and HATFA extension. 2 Set at 120 bps below effective interest rate – based on long-term assumption for 30 year treasury rate



Demographic Assumptions

Inclusion Date The valuation date coincident with or next following the date on which the employee is hired.

New or rehired employees It was assumed there will be no new or rehired employees.

Mortality

Healthy Separate rates for non-annuitants (based on RP-2000 “Employees” table without collar or amount adjustments, with generational projection) and annuitants (based on RP-2000 “Healthy Annuitants” table without collar or amount adjustments, with generational projection).

Disabled Alternative disabled life mortality tables as defined under Revenue Ruling 96-7.

Termination Rates varying by age, service, gender and union group.

Representative Termination Rates

Management

Age Svc < 5 Svc 5+

25 0.100 0.100

40 0.100 0.033

54 0.073 0.012

Union Male Union Female

Age Svc < 5 Svc 5+ Svc < 5 Svc 5+

25 0.037 0.045 0.070 0.100

40 0.037 0.010 0.070 0.022

54 0.037 0.005 0.070 0.010

Disability Rates varying by age, gender and union group.

Representative Disability Rates (per 1,000 participants)

Management Union

Age Male Female Male Female

25 0.22 0.45 0.89 1.34

40 0.51 1.01 2.02 3.03

55 2.97 5.94 11.87 17.81

Multiple of CGDT 25% 50% 100% 150%



Retirement Rates varying by age, service and union group, average age 62.

Representative Retirement Rates

Management Union


55 0.06 0.08 0.03 0.11

59 0.07 0.15 0.04 0.11

62 0.18 0.29 0.11 0.25

65 1.00 1.00 1.00 1.00

Benefit commencement date:

► Preretirement death benefit Final Average: the later of the death of the active participant or the date the participant would have attained age 55.

Cash Balance: upon death of participant.

► Deferred vested benefit Final Average: the later of age 55 or termination of employment.

Cash Balance: upon termination of employment.

► Disability benefit Final Average: age 65

Cash Balance: age 65

► Retirement benefit Final Average: upon termination of employment.

Cash Balance: upon termination of employment.

Form of payment Final Average: 18% choose life annuity, 34% choose 50% J&S, 14% choose 75% J&S, and 34% choose 100% J&S

Cash Balance: 100% of participants elect a lump sum

Percent married 80% of males; 50% of females.

Spouse age Male participant’s spouse is three years younger and female participant’s spouse is the same age.

Covered pay Annualized base pay rates as of January 1, 2015 for bargaining unit employees and as of March 1, 2015 for non-bargaining unit employees.

Administrative expenses $9,000,000. Equal to prior year administrative expenses net of investment management and swap fees rounded to the nearest million.

Loads None

At-risk assumptions For at-risk calculations, all participants eligible to elect benefits during the current and subsequent ten plan years are assumed to commence benefits at the earliest possible date under the plan, but not before the end of the current plan year, except in accordance with the regular valuation assumptions. In addition, all participants (not just those eligible to begin benefits within the next 11 years) are assumed to elect the most valuable form of benefit under the plan, which is usually the lump sum form of payment.



Cash flow:

Timing of benefit payments Annuity payments are payable monthly at the beginning of the month. Lump sum payments under the Cash Balance Plan are payable on date of decrement.

Methods

Valuation date First day of plan year

Funding target Present value of accrued benefits

Target normal cost Present value of benefits expected to accrue during plan year plus plan-related expenses expected to be paid from plan assets during plan year

Actuarial value of assets for determining minimum required contributions

Average of the fair market value of assets on the valuation date and the two immediately preceding valuation dates, adjusted for contributions, benefits, administrative expenses and expected earnings (with such expected earnings limited as described in IRS Notice 2009-22) . The average asset value must be within 10% of market value, including discounted contributions receivable (discounted using the effective interest rate for the 2014 plan year.)

Benefits Not Valued All benefits described in the Plan Provisions section of this report were valued based on discussions with PG&E regarding the likelihood that these benefits will be paid. Willis Towers Watson has reviewed the plan provisions with PG&E and, based on that review, is not aware of any significant benefits required to be valued that were not.

Changes in Assumptions and Methods

Changes in assumptions since prior valuation

The segment interest rates used to calculate the funding target and target normal cost were updated from an applicable month of September 2013 to September 2014.

The MAP-21 corridors were updated to the applicable rate for the 2015 plan year, and to reflect the provisions of the HAFTA extension.

The assumed plan-related expenses added to the target normal cost were changed from $6,000,000 to $9,000,000. There was no change in the underlying method used to determine the administrative expenses.

Changes in methods since prior valuation

There have been no changes in methods since the prior valuation.



Data Sources

Willis Towers Watson used asset data supplied by the trustee. PG&E furnished participant data as of the valuation date. PG&E also provided the dates and amounts of the contributions paid as of the end of the fiscal year. Data were reviewed for reasonableness and consistency, but no audit was performed. Based on discussions with the company, assumptions or estimates were made when data were not available, and the data was adjusted to reflect any significant events that occurred between the date the data was collected and the measurement date. We are not aware of any errors or omissions in the data that would have a significant effect on the results of our calculations.

Assumptions used in January 1, 2015 Data Process

Participants with pay rates that are unavailable in the administrator’s system

Default to $79,300 for union employees and $104,200 for management employees

Participants with payment amounts not yet available

Default to $21,400 for vested terms, disabled and retirees (25 records)

Benefits for continuing participants on long term disability

Default to 2014 benefit payment provided by PG&E (820 records)

Participants recorded with missing beneficiary dates of birth and sex code

Default to prior year sex code and birthdate if available and valuation assumptions if unavailable

Rehired participants without a frozen accrued final average pay benefit

Default to $8,400 (23 records)

Inactive participants with missing or different union codes from prior year (does not impact valuation)

Default to prior year union codes (3,930 records)

Inactive participants reported with an invalid plan design code (does not impact valuation)

Default to prior year plan design code (1,524 records)

Assumptions Rationale – Significant Economic Assumptions for Contributions

Discount rate The basis chosen was selected by the plan sponsor from among choices prescribed by law, all of which are based on observed market data over certain periods of time.

Cash Balance Interest crediting rate

The plan credits interest to cash balance accounts with a quarterly interest rate equal to the average of the 30-year Treasury securities published for the 3 months immediately preceding the calendar quarter divided by 4, but with a minimum interest credit rate of 0.4875%. PG&E has selected an expected future 30-year Treasury rate set to 120 basis points below the effective interest rate. After examining historical variability in this rate, and considering the increase in interest crediting expected to be caused by the minimum interest credit, we believe that the



selected assumption does not significantly conflict with what would be reasonable based on a combination of market conditions at the measurement date and future expectations consistent with other economic assumptions used, other than the discount rate.

Rates of increase in:

Compensation and NAW

Assumed compensation increases are based on actual compensation increases received by the participant population over the period 2007-2011.

Administrative Expenses Administrative expenses are set to be equal to prior year administrative expenses net of investment management and swap fees rounded to the nearest million.

Assumptions Rationale – Significant Demographic Assumptions

Healthy Mortality Assumptions used for funding purposes are as described by IRC §430(h).

Disabled Mortality Assumptions used for funding purposes are as described by IRC §430(h).

Termination Termination rates were based on an experience study conducted in 2012, with annual consideration of whether any conditions have changed that would be expected to produce different results in the future.

Assumed termination rates differ by age, gender, service, and union status because of observed and expected differences in termination rates between these groups.

Disability Disability rates were based on an experience study conducted in 2012, with annual consideration of whether any conditions have changed that would be expected to produce different results in the future.

Assumed disability rates differ by age, gender, and union status because of observed and expected differences in disability rates between these groups.

Retirement Retirement rates were based on an experience study conducted in 2012, with annual consideration of whether any conditions have changed that would be expected to produce different results in the future.

Assumed retirement rates differ by age, service, and union status because of observed and expected differences in retirement rates between these groups.

Benefit commencement date for deferred benefits:



Preretirement death benefit Surviving spouses are assumed to begin benefits at the earliest permitted commencement date because ERISA requires benefits to start then unless the spouse elects to defer. If the spouse elects to defer, actuarial increases from the earliest commencement date must be given, so that a later commencement date is expected to be of approximately equal value, and experience indicates that most spouses do take the benefit as soon as it is available.

Deferred vested benefit Deferred vested participants in the Final Average plan are assumed to begin benefits at the later of 55 or termination of employment because it is has been observed and is expected that many participants will retire and begin benefits when eligible for subsidized early commencement factors.

Deferred vested participants in the Cash Balance plan are assumed to begin benefits upon termination of employment because the plan’s experience is not considered to be credible, but it is expected that many participants will retire and begin benefits soon after retirement due to lump sum provisions available in this plan.

Form of Payment The percentage of retiring participants assumed to take lump sums is based on observed experience for plans of similar design. The form of payment assumption is expected to be refined as observed experience becomes available.

The percentage of retiring participants assumed to take joint and survivor annuities, and the assumed survivor percentages, are based on observed experience over the period 2007-2011.

Marital Assumptions:

Percent married The assumed percentage married is based on observed experience over the period 2007-2011.

Spouse age The assumed age difference for spouses is based on observed experience over the period 2007-2011.

Source of Prescribed Methods

Funding Methods The methods used for funding purposes as described in Appendix A, including the method of determining plan assets, are “prescribed methods set by law”, as defined in the actuarial standards of practice (ASOPs). These methods are required by IRC §430, or were selected by the plan sponsor from a range of methods permitted by IRC §430.

SCHEDULE SB (Fonn 5500)

Department of the Treasury Internal Revenue SeNce

Single-Employer Defined Benefit Plan Actuarial Information

•

OMB No. 1210-0110

2015

Department of labor &nployee Benefits Security Alinioistralioo


This schedule is required to be filed under section 104 of the Employee Retirement Income Sectnity Act of 1974 (ERISA) and section 6059 of the

Internal Revenue Code (the Code). This Form is Open to Public

Inspection

~ File as an attachment to Fonn 5500 or 5500-SF.

For catendar plan year 2015 or fiscal pJan year beginning 01/ 01/2015 and ending 12/31/2015

• Round off amounts to nearest dollar.

• Caution: A penalty of $1,000 wiD be assessed for late filing of this report unless reasonabje cause is established.

B Three-digit

plan number (PN)

A Name of plan

PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN I C Plan sponsor's name as shown on line 2a of Form 5500 or 5500-SF


D Employer Identification Number (EIN)

94-0742640

E T)lle of plan: ~ Single D M~ple-A 0 Mulliple-B I IF Pli<ryearplansize: n 100orrewer fl 101-500 ~ Morethan500

I Part I I Basic lnfonnation 1 Enter the valuation date· Month 01 Day 01 Year 2015

2 Assets:

001

a Market value .......................................................................................................................................................... 2a 14, 452, 531, 3 09 1-~-t-~~~~--'-~--'-~--'-~~

b Actuarial value ...........................•...•..... ---···-··········-·····················-····-·-------··--------------------------·-································ 2b 13, 721, 602, 564

3 Funding target/participant COl.Dlt breakdown (1) NLDTiber of participants

a For retired paticipants and beneficiaries receiving payment. .....•............... 23,690

b Forterminated vested participants .......................................... . 4,265

(2) Vested Funding Target

6,118,461,47S

524,401,204

(3) Total Funding Target

6,118,461,479

550,691,825

C For active participants ........................................................... . 22,706 3,959,840,130 4,037,090,331

d Total..................... . ......................................................... . 50,66510,602,702,81310,706,243,635

4 lfthe plan is in at-risk status, check the box and complete lines {a) and (b) ···············-·--····-------0

a Funding target disregarding prescribed at-risk assumptions·····-··-······-------------------------··------·---------·------·---·-·-·----- 4a !--~-+~~~~~~~~~~~~~

b Funding target reflecting at-risk assumptions, but disregarding transition rule for plans that have been in 4b at-risk status for fewer than fi\le consecutive years and disregan:ting loading factor----·--------------·-----------------

5 Effective interest rate·-··--·-------·----------·----·------------·----·-----·-·-------------------------·-···----·-··-·---·----·----------------·------.--------------· 5 6 .29%

6 Target normal cost. ....•...........•................ ---········---·---------·-······--·-·--·----------·------------------------------·-··--······-------··-·---·------- 6 306,538,362

statement by Enrolled Actuary To the best of my kno.vledge, the information supplied in this schedule and accanpanying schedules, statements and attactmerts, if any, is wnpete and aa;urate.. Each presclibed assimption was applied in accordance with applicatje law and regulations. In my opinion, each other asstmption is reasonable (ta<ing into acccxmt the mperience of the pan and reasonable expectations) and such other asstmptions, in corn bi nation, offer my best estimate of anticip:rted eJperience under the plan.

SIGN HERE

John Coates, A .. A Signature of actuary

Type or print name of actuary

Willis Towers Watson

Firm name

345 California Street, Suite 2000

San Francisco CA 94104 Address of the firm

I Date

1404116

Most recent enrollment number

415-733-4100

Telephone number (including area code)

If the actuary has not fully reflected any regulation or ruling promulgated under the statute in completing this schedule, check the box and see instructions D For Pape1Work Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500 or 5500~SF. Schedule SB (Form 5500) 2015

v. 150123

Schedule SB (Form 5500) 2015 Page 2 - 1 x

Part II Beginning of Year Carryover and Prefunding Balances (a) Carryover balance (b) Prefunding balance 7 Balance at beginning of prior year after applicable adjustments (line 13 from prior

year) .....................................................................................................................................

-123456789012345 -123456789012345

8 Portion elected for use to offset prior year’s funding requirement (line 35 from prior year) ........................................................................................................................

-123456789012345 -123456789012345 9 Amount remaining (line 7 minus line 8) ..............................................................................

-123456789012345 -123456789012345 10 Interest on line 9 using prior year’s actual return of % ................................

....

-123456789012345 -123456789012345 11 Prior year’s excess contributions to be added to prefunding balance: a Present value of excess contributions (line 38a from prior year) ................................

...

-123456789012345 b(1) Interest on the excess, if any, of line 38a over line 38b from prior year Schedule SB, using prior year's effective interest rate of ___ % ..........................

b(2) Interest on line 38b from prior year Schedule SB, using prior year's actual return .........................................................................................................................

c Total available at beginning of current plan year to add to prefunding balance ...................

-123456789012345

d Portion of (c) to be added to prefunding balance ...........................................................

-123456789012345

-123456789012345 12 Other reductions in balances due to elections or deemed elections ................................

.

-123456789012345 -123456789012345

13 Balance at beginning of current year (line 9 + line 10 + line 11d – line 12) ......................

-123456789012345 -123456789012345

Part III Funding Percentages 14 Funding target attainment percentage ...................................................................................................................................................................................

14 123.12%

15 Adjusted funding target attainment percentage ..........................................................................................................................................

15 123.12%

16 Prior year’s funding percentage for purposes of determining whether carryover/prefunding balances may be used to reduce current year’s funding requirement ................................................................................................................................................................

.....

16 123.12%

17 If the current value of the assets of the plan is less than 70 percent of the funding target, enter such percentage. ................................

......

17 123.12%

Part IV Contributions and Liquidity Shortfalls 18 Contributions made to the plan for the plan year by employer(s) and employees:

YYYY-MM-DD 12345678901234

5

YYYY-MM-DD

YYYY-MM-DD

YYYY-MM-DD YYYY-MM-DD

Totals

12345678901234

5-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

YYYY-MM-DD

-

12345678901

2345

-

12345678901

2345

-

12345678901

2345

-

12345678901

2345

-

12345678901

2345

-

12345678901

2345

12345678901234

5-

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5

123456789012345-

123456789012345 -123456789012345 -123456789012345 -123456789012345

-123456789012345

-123456789012345

5

5

5-

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5

123456789012345 -123456789012345 -123456789012345 -123456789012345

-123456789012345

-123456789012345

5

5

5-

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5

123456789012345 -123456789012345 -123456789012345 -123456789012345

-123456789012345

-123456789012345

YYYY-MM-DD

5

5

5-

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5

123456789012345 -123456789012345 -123456789012345 -123456789012345

-123456789012345

-123456789012345

YYYY-MM-DD 12345678901234

5

12345678901234

5

YYYY-MM-DD

12345678901234

5-

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5 -

12345678901234

5

123456789012345-

123456789012345 -123456789012345 -123456789012345 -123456789012345

-123456789012345

-123456789012345

YYYY-MM-DD 12345678901234

5

12345678901234

5

Totals ► 18(b) 18(c)

Liquidity shortfall as of end of quarter of this plan year (1) 1st (2) 2nd (3) 3rd (4) 4th

-123456789012345 -123456789012345 -123456789012345 -123456789012345







19 Discounted employer contributions – see instructions for small plan with a valuation date after the beginning of the year: a Contributions allocated toward unpaid minimum required contributions from prior years..................................................

19a -123456789012345

b Contributions made to avoid restrictions adjusted to valuation date ...................................................................................

19b -123456789012345

c Contributions allocated toward minimum required contribution for current year adjusted to valuation date ................................

..

19c -123456789012345

20 Quarterly contributions and liquidity shortfalls:

a Did the plan have a “funding shortfall” for the prior year? ................................................................................................................................ X Yes X No

b If line 20a is “Yes,” were required quarterly installments for the current year made in a timely manner? ...................................................... X Yes X No

c If line 20a is “Yes,” see instructions and complete the following table as applicable:








12345678901234 12345678901234 YYYY-MM-DD 12345678901234 123456789012345-


YYYY MM-DD


12345678901234 12345678901234 YYYY-MM-DD 12345678901234 123456789012345-


12345678901234 12345678901234 YYYY-MM-DD 12345678901234 123456789012345-


1,827,079,912 0

0 0

1,827,079,912 0

15.67 286,303,422 0

303,986,660

6.49 19,728,734

0

323,715,394

0

0 0

2,113,383,334 0

108.42

128.16

124.56

10/15/2015 81,750,000 0

12/23/2015 4,905,000 0

01/15/2015 76,845,000 0

04/15/2016 81,750,000 0

07/15/2016 81,750,000 0

327,000,000 0

00

304,649,992

X

Schedule SB (Form 5500) 2015 Page 3

Part V Assumptions Used to Determine Funding Target and Target Normal Cost 21 Discount rate:

a Segment rates: 1st segment: 123.12_%

2nd segment: 123.12_%

3rd segment: 123.12 % X N/A, full yield curve used

b Applicable month (enter code) ........................................................................................................................................... 21b 1

22 Weighted average retirement age ......................................................................................................................................... 22 12

23 Mortality table(s) (see instructions) X Prescribed - combined X Prescribed - separate X Substitute

Part VI Miscellaneous Items 24 Has a change been made in the non-prescribed actuarial assumptions for the current plan year? If “Yes,” see instructions regarding required attachment. ............................................................................................................................................................................................................. X Yes X No

25 Has a method change been made for the current plan year? If “Yes,” see instructions regarding required attachment. ................................. X Yes X No

26 Is the plan required to provide a Schedule of Active Participants? If “Yes,” see instructions regarding required attachment. ......................... X Yes X No

27 If the plan is subject to alternative funding rules, enter applicable code and see instructions regarding attachment ..............................................................................................................................................................................

27

Part VII Reconciliation of Unpaid Minimum Required Contributions For Prior Years 28 Unpaid minimum required contributions for all prior years ................................................................................................... 28 -123456789012345

29 Discounted employer contributions allocated toward unpaid minimum required contributions from prior years (line 19a) ................................................................................................................................................................................. 29

-123456789012345

30 Remaining amount of unpaid minimum required contributions (line 28 minus line 29) ....................................................... 30 -123456789012345

Part VIII Minimum Required Contribution For Current Year 31 Target normal cost and excess assets (see instructions):

a Target normal cost (line 6)................................................................................................................................................... 31a -123456789012345

b Excess assets, if applicable, but not greater than line 31a ................................................................................................................ 31b

32 Amortization installments: Outstanding Balance Installment

a Net shortfall amortization installment ............................................................................. -123456789012345 -123456789012345

b Waiver amortization installment ..................................................................................... -123456789012345 -123456789012345

33 If a waiver has been approved for this plan year, enter the date of the ruling letter granting the approval (Month _________ Day _________ Year _________ )_and the waived amount ........................................................ 33

-123456789012345

34 Total funding requirement before reflecting carryover/prefunding balances (lines 31a - 31b + 32a + 32b - 33) ................ 34 -123456789012345

Carryover balance Prefunding balance Total balance

35 Balances elected for use to offset funding requirement ............................................................. -123456789012345 -123456789012345 -123456789012345

36 Additional cash requirement (line 34 minus line 35) ............................................................................................................. 36 -123456789012345

37 Contributions allocated toward minimum required contribution for current year adjusted to valuation date (line 19c) ................................................................................................................................................................................. 37 -123456789012345

38 Present value of excess contributions for current year (see instructions) -123456789012345 a Total (excess, if any, of line 37 over line 36) ..................................................................................................................... 38a

b Portion included in line 38a attributable to use of prefunding and funding standard carryover balances ...................... 38b

39 Unpaid minimum required contribution for current year (excess, if any, of line 36 over line 37)......................................... 39 -123456789012345

40 Unpaid minimum required contributions for all years ............................................................................................................ 40 -123456789012345

Part IX Pension Funding Relief Under Pension Relief Act of 2010 (See Instructions) 41 If an election was made to use PRA 2010 funding relief for this plan:

a Schedule elected ................................................................................................................................................................. 2 plus 7 years X 15 years

b Eligible plan year(s) for which the election in line 41a was made .............................................................................. X 2008 X 2009 X 2010 X 2011

42 Amount of acceleration adjustment ............................................................................................................................................................................................. 42

43 Excess installment acceleration amount to be carried over to future plan years ....................................................................................................................... 43

4.72 6.11 6.81

4

62

X

X

X

X

0

0

0

306,538,362

306,538,362

0 0

0 0

0

0 0 0

0

304,649,992

304,649,992

0

0

0

SCHEDULE SB ATTACHMENT

Plan Name: Pacific Gas and Electric Company Retirement Plan EIN / PN: 94-0742640 / 001 Plan Sponsor: Pacific Gas and Electric Company Valuation Date: January 1, 2015

http://natct.internal.towerswatson.com/clients/602979/2016RetirementProjects/Documents/1.%202015%20Schedule%20SB%20Attachment%20-%20Line%2022%20-%20Description%20of%20Weighted%20Average%20Retirement%20Age.doc


Description of Weighted Average Retirement Age

as of January 1, 2015 Retirement Rate Assumption

Management Union


55 .060 .080 .030 .110

56 .060 .080 .030 .110

57 .060 .120 .030 .080

58 .060 .120 .030 .090

59 .070 .150 .040 .110

60 .070 .200 .050 .140

61 .070 .220 .070 .150

62 .180 .290 .110 .250

63 .150 .230 .140 .250

64 .150 .300 .140 .250

65 1.000 1.000 1.000 1.000

Method Used to Calculate the Plan's Weighted Average Retirement Age For each active participant, an expected retirement age was calculated, weighted in proportion to the probability that the individual would remain an active participant to each age and then retire at that age. The plan's weighted average retirement age of 62 is the arithmetic average of the expected retirement ages of all such participants at January 1, 2015.

1

REPORT OF INDEPENDENT AUDITORS To the Participants and Plan Administrator of the Pacific Gas and Electric Company Retirement Plan Report on the Financial Statements We were engaged to audit the accompanying financial statements of the Pacific Gas and Electric Company Retirement Plan (the Plan), which comprise the statement of net assets available for benefits as of December 31, 2015, the related statement of changes in net assets available for benefits for the year then ended, the statement of accumulated plan benefits as of December 31, 2014, and the statement of changes in accumulated plan benefits for the year then ended, and the related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these 2015 financial statements based on conducting the audit in accordance with auditing standards generally accepted in the United States of America. Because of the matter described in the Basis for Disclaimer of Opinion paragraph, however, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the 2015 financial statements. Basis for Disclaimer of Opinion on the 2015 Financial Statements As permitted by 29 CFR 2520.103-8 of the Department of Labor's (DOL’s) Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 (ERISA), the plan administrator instructed us not to perform, and we did not perform, any auditing procedures with respect to the information summarized in Note 7, which was certified by The Bank of New York Mellon/BNY Mellon, N.A., the trustee of the Plan, except for comparing such information with the related information included in the 2015 financial statements. We have been informed by the plan administrator that the trustee holds the Plan's investment assets and executes investment transactions. The plan administrator has obtained a certification from the trustee as of December 31, 2015, and for the year then ended, that the information provided to the plan administrator by the trustee is complete and accurate. Disclaimer of Opinion Because of the significance of the matter described in the Basis for Disclaimer of Opinion on the 2015 Financial Statements paragraph, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion. Accordingly, we do not express an opinion on these 2015 financial statements.

2

Other Matters – Supplementary Information and Report on the 2014 Financial Statements The Schedule H, Part IV, Line 4(i) – Schedule of Assets (Held at End of Year) as of December 31, 2015, is required by the DOL's Rules and Regulations for Reporting and Disclosure under ERISA and is presented for the purpose of additional analysis and is not a required part of the financial statements. Because of the significance of the matter described in the Basis for Disclaimer of Opinion paragraph, we do not express an opinion on this supplementary information. We have audited the accompanying financial statements of the Plan, which comprise the statement of net assets available for benefits as of December 31, 2014, and in our report dated September 30, 2015, we expressed our opinion that such financial statement presents fairly, in all material respects, net assets available for benefits of the Plan as of December 31, 2014, the changes in net assets available for benefits for the year ended December 31, 2014, the accumulated plan benefits of the Plan as of December 31, 2013 and the changes in accumulated plan benefits for the year ended December 31, 2013, in accordance with accounting principles generally accepted in the United States of America. Report on Form and Content in Compliance with DOL Rules and Regulations for 2015 Financial Statements The form and content of the information included in the 2015 financial statements and supplementary information, other than that derived from the information certified by the trustee, have been audited by us in accordance with auditing standards generally accepted in the United States of America and, in our opinion, are presented in compliance with the DOL’s Rules and Regulations for Reporting and Disclosure under ERISA.

Campbell, California October 5, 2016


Plan Name: Pacific Gas and Electric Company Retirement Plan EIN / PN: 94-0742640 / 001 Plan Sponsor: Pacific Gas and Electric Company Valuation Date: January 1, 2015 http://natct.internal.towerswatson.com/clients/602979/2016RetirementProjects/Documents/5.%202015%20Schedule%20SB%20Attachment%20-%20Part%20V%20-%20Summary%20of%20Plan%20Provisions.doc

Schedule SB, Part V Summary of Plan Provisions

as of January 1, 2015

Effective January 1, 2013, the Pacific Gas and Electric Company Retirement Plan consists of three parts, each covering different groups of employees. Parts I and II cover all Management and Union employees hired prior to January 1, 2013 under the respective Final Average formulas. Part III, the Cash Balance Plan covers employees hired or rehired on or after January 1, 2013 and all other employees making a one-time irrevocable election to begin participation in this Plan effective January 1, 2014.

Plan Provisions – Final Average Design

The most recent amendment reflected in the following plan provisions was effective January 1, 2013.

Plan provisions may not be the same for the Accounting and Funding valuations.

Covered Employees All eligible employees hired prior to January 1, 2013. Coverage ends on December 31, 2013 for employees electing to participate in the Cash Balance Plan

Participation Date Hire date. Date of becoming a covered employee

Definitions

Vesting service Same as pension service

Pension service Elapsed time from the first day of employment as a covered employee excluding any breaks in service

Pensionable pay Management/Nonunion: Basic monthly salary

Union: Basic weekly pay rate

Average earnings Management/Nonunion: Final 36 months

Union: N/A - Pay rate as described above used for calculation of benefit

Normal retirement date (NRD) First of month following the attainment of age 65

Monthly pension benefit Management/Nonunion: 1.7% times pension service times average earnings

Union: 1.5% times pay rate times pension service up to 25 years plus 1.6% times pay rate plus pension service in excess of 25 years

For employees electing to participate in the Cash Balance Plan, the monthly pension benefit determined under the above formulas is frozen effective December 31, 2013



Eligibility for Benefits

Normal retirement Retirement on NRD

Early retirement Retirement before NRD and on or after attaining age 55

Postponed retirement Retirement after NRD

Vested termination Termination for reasons other than death or retirement after completing five years of vesting service or attaining age 55

For employees electing to participate in the Cash Balance Plan, termination for reasons other than death or retirement after completing three years of vesting service or attaining age 55

Disability Permanent and total disability prior to NRD, and participant is receiving a Social Security disability benefit

Preretirement death benefit Death after five years of service with a surviving beneficiary, or death after three years of service with a surviving beneficiary for employees accruing a benefit under the Cash Balance Plan

Benefits Paid Upon the Following Events

Normal retirement Monthly pension benefit determined as of NRD

Early retirement Monthly pension benefit determined as of early retirement date, reduced as follows:

Service Management Union

35+ years No reduction No reduction

30-34 years Age 60+: no reduction Age 59: reduced 6% Age 55-58: reduced 6% plus 3% per year below age 59

No reduction

25-29 years Age 62+: no reduction Age 55-61: reduced 3% per year below age 62

Same as management

15-24 years Age 62+: no reduction Age 60-61: reduced 3% per year below age 62 Age 55-59: reduced 6% plus 4% per year below age 60

Same as management

<15 years Reduced 3% per year below age 65

Same as management

Postponed retirement Monthly pension benefit determined as of actual retirement date



Vested termination Monthly pension benefit determined as of termination date, reduced for early retirement under the same schedule as detailed above

Disablement Continued service accruals while on disability. LTD benefits provided under separate program

Preretirement death Monthly preretirement death benefit payable on behalf of an active employee equal to 50% of accrued benefit at time of death

If death occurs after age 55 or after age plus service equals 70, beneficiary can commence immediately without early reduction (a reduction is applied if beneficiary is more than ten years younger than participant)

Other Plan Provisions

Forms of payment Preretirement death benefits are payable only as described above. Monthly pension benefits are paid as described above as a life annuity, if the participant has no beneficiary as of the date payments begin, or if the participant so elects. Otherwise, benefits are paid in the form of 50% joint and survivor annuity option or, if the participant elects and the spouse consents, another actuarially equivalent optional form offered by the plan. Optional forms are joint and survivor annuities at 25%, 75%, and 100%, actuarially reduced. Actuarial reduction is defined in the plan document at all combinations of ages. It is generally based on the 1951 GA-Male mortality table and a 5.00% interest rate.

An election to commence receiving benefits under the Final Average plans is independent of an election to commence receiving benefits under the Cash Balance Plan.

Pension Increases None

Plan participants’ contributions None currently allowed.

Maximum on benefits and pay All benefits and pay for any calendar year may not exceed the maximum limitations for that year as defined in the Internal Revenue Code. The plan provides for increasing the dollar limits automatically as such changes become effective. Increases in the dollar limits are assumed for determining pension cost but not for determining contributions.



Plan Provisions – Cash Balance Design

Effective Date January 1, 2013

Covered Employees All eligible employees hired or rehired on or after January 1, 2013.

Employees previously covered under the final average formulas who make a one-time irrevocable election to participate in the Cash Balance Plan after December 31, 2013

Participation Date Hire date for all employees hired on or after January 1, 2013. Employees previously covered under the final average formulas who elect to participate in the Cash Balance Plan begin participation on January 1, 2014

Definitions

Vesting service Same as pension service

Pension service Elapsed time from the first day of employment as a covered employee, including all service recognized under Parts I and II of the Plan excluding any breaks in service

Pensionable pay Covered compensation, excluding bonuses, commissions and other amounts as defined in the plan document

Normal retirement date (NRD) First of month following the attainment of age 65

Cash Balance Account A separate Cash Balance account shall be established for each participant with an initial balance of zero.

Pay credits shall be applied to a participant’s cash balance account as of the last day of the plan year as follows:

Age Plus Service

% of Covered Compensation

< 40 5.00%

40 – 49 6.00%

50 – 59 7.00%

60 – 69 8.00%

70 – 79 9.00%

80+ 10.00%

A participant’s cash balance account shall be credited as of the last day of each calendar quarter with a quarterly interest rate equal to the average of the 30-year Treasury securities published for the 3 months immediately preceding the calendar quarter divided by 4, subject to a minimum interest rate of 0.4875%.



Eligibility for Benefits

Normal retirement Retirement on NRD

Postponed retirement Retirement after NRD

Vested termination Termination for reasons other than death or retirement after completing the earlier of three years of vesting service or attaining age 55

Disability Permanent and total disability prior to NRD, and participant is receiving a Social Security disability benefit

Preretirement death benefit Death after three years of service with a surviving beneficiary

Benefits Paid Upon the Following Events

Normal retirement Monthly pension benefit determined as of NRD in an amount payable monthly for the life of the participant that is equal to the actuarial equivalent of the participant’s cash balance account

Early or postponed retirement Monthly pension benefit determined as of actual retirement date in an amount payable monthly for the life of the participant that is equal to the actuarial equivalent of the participant’s cash balance account

Vested termination Monthly pension benefit determined and payable as of the later of termination or election date, benefit is payable at termination

Disablement Continued service accruals while on disability. LTD benefits provided under separate program

Preretirement death

Full preretirement pension benefit

All benefits are also payable as a lump sum.

Other Plan Provisions

Forms of payment Preretirement death benefits are payable as an annuity for the life of the beneficiary or as a single lump sum payment. Monthly pension benefits are paid as described above as a life annuity, if the participant has no beneficiary as of the date payments begin, or if the participant so elects. Otherwise, benefits are paid in the form of 50% joint and survivor annuity option or, if the participant elects and the spouse consents, another actuarially equivalent optional form offered by the plan. Optional forms are a joint and survivor annuities at 25%, 75%, and 100%, or a lump sum.

An election to commence receiving benefits under Cash Balance plan is independent of an election to commence receiving benefits under the Final Average plans.

Pension Increases None

Plan participants’ contributions None currently allowed.



Maximum on benefits and pay All benefits and pay for any calendar year may not exceed the maximum limitations for that year as defined in the Internal Revenue Code. The plan provides for increasing the dollar limits automatically as such changes become effective. Increases in the dollar limits are assumed for determining pension cost but not for determining contributions.

Company Contributions

All benefits to plan participants are payable from the Retirement Plan Trust.

Future Plan Changes

No future plan changes were recognized in determining pension cost or in determining minimum and maximum contributions. Willis Towers Watson is not aware of any future plan changes which are required to be reflected.

Changes in Benefits Valued Since Prior Year

The plan was amended to provide additional benefits to certain individuals.

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PACIFIC GAS AND ELECTRIC COMPANY RETIREMENT PLAN EIN #: 94-0742640 PLAN #: 001 FORM 5500, SCHEDULE H, PART IV, LINE 4i – SCHEDULE OF ASSETS HELD AS OF DECEMBER 31, 2015 (in thousands, except share amounts)

(a) (b) (c) (d) (e)

Name of Issuer

Description of

Investment Number of

Shares Cost Current Value

401(h) Account:

Collective U.S. Government STIF 15 BPS

Short-Term Investments 5,237,863 $5,238 $5,238

BlackRock Long Duration

AlphaCredit Fund Fixed Income

3,130,658 51,421 53,310

BlackRock Russell 3000 Index Fund

Global Equity

3,911,012 76,670 87,275

BlackRock’s Russell Developed Ex-

U.S. Large Cap Index Non-Lendable Fund

Global Equity

4,844,396 54,133 54,669

TOTAL INVESTMENTS

17,123,929 $187,462 $200,492

******

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