PG&E Employees Confront the Hidden Cost of Family Support on Retirement Security

Healthcare Provider Update: Healthcare Provider for Pacific Gas & Electric The primary healthcare provider for employees of Pacific Gas and Electric (PG&E) is often covered under large insurance carriers that offer comprehensive plans, including offerings from Blue Cross Blue Shield and UnitedHealthcare; the exact provider may vary depending on the employee's specific plan and regional options available. Projected Healthcare Cost Increases in 2026 As we look ahead to 2026, healthcare costs are anticipated to rise significantly due to a combination of factors. Insurers are reporting average premium increases that could exceed 20%, driven largely by ongoing inflation in healthcare services and the potential expiration of enhanced subsidies provided under the Affordable Care Act. This perfect storm of rising medical costs and diminished financial support could shock many consumers, with estimates suggesting that out-of-pocket premiums might surge by as much as 75% for individuals reliant on marketplace plans. As such, both employees and employers within PG&E should prepare for heightened expenses, taking proactive steps now to mitigate potential financial impacts. Click here to learn more

'PG&E employees should recognize that sustained family support can quietly drain their long-term retirement income, making it important to set clear financial boundaries and prioritize retirement contributions as part of their savings plans.' — Wesley Boudreaux, a representative of The Retirement Group, a division of Wealth Enhancement.

'PG&E employees often underestimate how ongoing family assistance can impact their retirement outlook, which is why they should develop a disciplined plan that balances generosity with the need to maintain long-term financial resilience.' — Patrick Ray, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

1. How family financial support can quietly erode retirement savings.

2. The emotional and generational pressures that may shape financial decisions.

3. Practical strategies to balance generosity with long-term stability.

Retirement planning for PG&E employees can be subtly undermined by family obligations, calling for a deeper level of awareness and preparation.

By continuing to support family members—often at the expense of their own future plans—individuals may put long-term retirement strength at risk. The drive to help loved ones, whether aging parents, adult children, or grandchildren, is rarely built into retirement projections. Yet, this growing trend represents a frequently underestimated threat to a lasting retirement income for PG&E workers and others.

The Unnoticed Depletion of Retirement Funds

According to the 2025 Protected Retirement Income and Planning (PRIP) Study by the Alliance for Lifetime Income, 17% of Americans support adult children over age 26, 10% assist grandchildren, 7% help parents or in-laws, and 9% aid other relatives. ¹  More than half admit these transfers negatively affect their retirement funds. ¹

This pattern reflects a national tendency to place emotional or moral duty above personal portfolio preservation. Only 15% of respondents said they would cut back on family support to prolong their retirement funds, while 54% would return to work and 58% would accept a more modest lifestyle. ¹  Brent Wolf, CFP®, reports having seen retirees delay medical care or home repairs to help their families—acts of generosity that can become financially unsustainable, even among PG&E employees accustomed to disciplined planning.

The Blind Spot in Generational Perspectives

Generation X, often called the “sandwich generation”, faces unique pressures, balancing aging parents’ demands alongside supporting adult children. Without defined benefit pensions, many depend solely on personal savings, making diverted funds especially damaging. PG&E employees under similar pressures may benefit from guidance that realistically incorporates these family demands into retirement roadmaps.

Setting Up Long-Term Limits

Supporting family isn’t automatically harmful—but it must come with boundaries. Differentiating between essential needs (e.g., medical emergencies) and nonessentials (e.g., discretionary travel) can help retirees allocate resources more wisely. Establishing a “family assistance budget” lets one give consistently without stretching one’s retirement plan too thin. For PG&E workers familiar with structured planning, folding this into their broader retirement approach can help maintain both generosity and durability.

Put Retirement Planning Before Generosity

“Pay yourself first” remains a guiding principle. As a general rule of thumb, regular contributions to retirement vehicles—401(k)s, IRAs, Roth accounts—should take priority over discretionary family financial help. Advisors may also suggest tax-efficient giving vehicles—such as 529 plans or direct payments of medical expenses—to help ease the burden on your long-term capital. With less access to defined benefit plans today than in the past, PG&E workers could benefit from structured income streams (such as annuities, systematic withdrawals, and Social Security sequencing) to prevent family support from draining essential retirement income.

Emotional Finance Requires Clarity and Empathy

Retirement planning isn’t purely quantitative—it involves emotion. Advisors who consider the human dimensions of money decisions can help you develop more robust approaches. As Brent Wolf notes, the aim isn’t to discourage you from helping family but to map out ways for it to happen without jeopardizing your own future. Open dialogue, periodic family support reviews, and scenario “stress-tests” can help PG&E retirees maintain peace of mind while preserving sustainable income.

Providing for family in retirement is like trying to water multiple gardens with one hose—the more you distribute, the less each patch receives. Without careful parameters, retirement funds may run dry before personal needs are met. PG&E retirees, like everyone else, must reconcile generosity with prudence so that their financial gardens continue to flourish over time.

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Sources:

1. Alliance for Lifetime Income by LIMRA. ' 2025 Protected Retirement Income and Planning (PRIP) Study .' 24 Sept. 2025. 

Other Resources:

1. Smith, Matthew, and Christin Kuretich.  Informal Caregiving: Measuring the Cost and Reducing the Burden . Society of Actuaries Research Institute, Apr. 2023. pp. 4-7, 27-31.

2. Board of Governors of the Federal Reserve.  Economic Well-Being of U.S. Households in 2024: Results from the Survey of Household Economics and Decisionmaking (SHED) . U.S. Federal Reserve, 28 May 2025. pp. 4-5, 8-11.