Participants in PG&E Corp.’s $3.6 billion defined contribution plan lost $15.3 million when trading in the utility’s shares was halted today as a result of subsidiary Pacific Gas & Electric Co.’s Chapter 11 bankruptcy filing.
Some 21% of the assets in parent company PG&E’s defined contribution plan is invested in company stock, according to Pensions & Investments’ survey of the largest pension funds. Before the filing, PG&E Corp. stock was down 2 cents to $11.36 from its adjusted close on Thursday of $11.38.
