2018 Form 5500 PGE Pension Plan filed 10152019

e71479

Form5500 Annual Return/Report of Employee Benefit Plan

pge-pension-plan-form-5500
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 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
2018
This Form is Open to Public Inspection

Part I Annual Report Identification Information

For calendar plan year 2018 or fiscal plan year beginning 01/01/2018

A This return/report is for:

X a multiemployer plan

B This return/report is:

X a single-employer plan X the first return/report X an amended return/report

and ending 12/31/2018
X a multiple-employer plan (Filers checking this box must attach a list of
participating employer information in accordance with the form instructions.)
X a DFE (specify) _C_
X the final return/report X a short plan year return/report (less than 12 months)

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

D Check box if filing under:

XX 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 APBOCRDTELAFNGDHIGEANBERCADLEEFLGEHCITRAICBCCODMEPFAGNHYIPEANBSCIODENFPGLHANI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI
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)
PAOBRCTDLEAFNGDHGIENAEBRCALDEELFEGCHTIRICABCCODMEPFANGYHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI D/B/A ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 1c2/1oSWASBACLDMEOFNGSHTIREAEBTCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI P1O2R3T4L5A6N7D,8O9R A97B2C0D4-E29F0G1HI ABCDEFGHI ABCDE 123456789 ABCDEFGHI ABCDEFGHI ABCDE CITYEFGHI ABCDEFGHI AB, ST 012345678901 UK

1b Three-digit plan
number (PN) 

000011

1c Effective date of plan

Y10Y/0Y1Y/1-9M45M-DD

2b Employer Identification

Number (EIN)

0931-02235468526078

2c Plan Sponsor's telephone

number

01253043-546647-876993

2d Business code (see

instructions)

022112130045

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 Filed with authorized/valid electronic signature. HERE
Signature of plan administrator

Y10Y/Y15Y/2-0M1M9-DD AANBNCEDEMFEGRHSEIREAABUCDEFGHI ABCDEFGHI ABCDE

Date

Enter name of individual signing as plan administrator

SIGN Filed with authorized/valid electronic signature. HERE
Signature of employer/plan sponsor

Y10Y/Y15Y/2-0M1M9 -DD AANBNCEDEMFEGRSHEIREAABUCDEFGHI ABCDEFGHI ABCDE

Date

Enter name of individual signing as employer or plan sponsor

SIGN HERE

YYYY-MM-DD

Signature of DFE

Date

For Paperwork Reduction Act Notice, see the Instructions for Form 5500.

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE

Enter name of individual signing as DFE

Form 5500 (2018) v. 171027

Form 5500 (2018)
3a Plan administrator's name and address XX Same as Plan Sponsor

Page 2

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 4 If the name and/or EIN of the plan sponsor or the plan name has changed since the last return/report filed for this plan,
enter the plan sponsor's name, EIN, the plan name and the plan number from the last return/report:
a Sponsor's name c Plan Name

3b Administrator's EIN 012345678
3c Administrator's telephone
number
0123456789
4b EIN012345678 4d PN
012

5 Total number of participants at the beginning of the plan year

5

6 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)

1234567893061829
1444 1300

b Retired or separated participants receiving benefits.............................................................................................................. 6b c Other retired or separated participants entitled to future benefits .......................................................................................... 6c d Subtotal. Add lines 6a(2), 6b, and 6c.................................................................................................................................... 6d e Deceased participants whose beneficiaries are receiving or are entitled to receive benefits. ................................................ 6e f Total. Add lines 6d and 6e................................................................................................................................................... 6f

1234567891071524 123456789021824 1234567893031328 123456789031025 1234567893061423

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 who 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:

1A

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)

(1)

X Insurance

(2)

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

(3)

XX Trust

9b Plan benefit arrangement (check all that apply)

(1)

X Insurance

(2)

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

(3)

XX 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

(1)

XX R (Retirement Plan Information)

(2)

X MB (Multiemployer Defined Benefit Plan and Certain Money

Purchase Plan Actuarial Information) - signed by the plan

actuary

(3)

XX SB (Single-Employer Defined Benefit Plan Actuarial

Information) - signed by the plan actuary

b General Schedules

(1)

X X

H (Financial Information)

(2)

X

I (Financial Information ­ Small Plan)

(3)

X _0__ A (Insurance Information)

(4)

X X

C (Service Provider Information)

(5)

X X

D (DFE/Participating Plan Information)

(6)

X

G (Financial Transaction Schedules)

Form 5500 (2018)

Page 3

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 2018 Form M-1 annual report. If the plan was not required to file the 2018 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

Single-Employer Defined Benefit Plan

OMB No. 1210-0110

(Form 5500)
Department of the Treasury Internal Revenue Service
Department of Labor Employee Benefits Security Administration
Pension Benefit Guaranty Corporation

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.

2018
This Form is Open to Public Inspection

For calendar plan year 2018 or fiscal plan year beginning

01/01/2018

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.

12/31/2018

A Name of plan
PORTLAND GENERAL ELECTRIC COMPANY PENSION PLAN

B Three-digit

plan number (PN)



001

C Plan sponsor's name as shown on line 2a of Form 5500 or 5500-SF
PORTLAND GENERAL ELECTRIC COMPANY

D Employer Identification Number (EIN)
93-0256820

E Type of plan: X Single

Multiple-A Multiple-B

F Prior year plan size: 100 or fewer

101-500 X More than 500

Part I Basic Information

1 Enter the valuation date:

Month __0_1______ Day __0_1______ Year _2_0_1_8_____

2 Assets:

a Market value.................................................................................................................................................... 2a

638270527

b Actuarial value ................................................................................................................................................ 2b

620660677

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 ....................................

2007

371108687

371108687

b For terminated vested participants ........................................................................... c For active participants ..............................................................................................

268 1444

24121062 202410594

24121062 210970971

d Total ........................................................................................................................ 4 If the plan is in at-risk status, check the box and complete lines (a) and (b) .............................

3719

597640343

606200720

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

4b

5 Effective interest rate............................................................................................................................................. 5

6 Target normal cost ................................................................................................................................................ 6

5.68 % 14088945

Statement 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

HOLLY C ECHEVERRIA

Type or print name of actuary

WILLIS TOWERS WATSON US LLC.

222 SW COLUMBIA STREET SUITE 600 PORTLAND, OR 97201

Firm name

06/28/2019 Date 17-07310
Most recent enrollment number 503-224-4155
Telephone number (including area code)

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

For Paperwork Reduction Act Notice, see the Instructions for Form 5500 or 5500-SF.

Schedule SB (Form 5500) 2018 v. 171027

Schedule SB (Form 5500) 2018

Page 2 - 11- x

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

(a) Carryover balance
-1234567890120345

(b) Prefunding balance
-12345678109201115233845

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

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

10 Interest on line 9 using prior year's actual return of 19.69 % ................................

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

a Present value of excess contributions (line 38a from prior year) ...............................

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

5.88 %...............

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................

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

12 Other reductions in balances due to elections or deemed elections ............................. 13 Balance at beginning of current year (line 9 + line 10 + line 11d ­ line 12)...................

-1234567890120345 -1234567890120345 -1234567890120345

-1234567810920115233845 -1234567890123045 -123456789012345

-1234567819807162263245

-1234567890120345 -1234567890120345

-1234567890123045
369436 2245698
-1234567890123045 123456789012345
-1234567890123045 -1234567890123045

Part III Funding Percentages

14 Funding target attainment percentage ................................................................................................................................................................... 14

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

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

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

12130.21.328% 12130.21.328%
1239.51.323% 123.12%

Part IV Contributions and Liquidity Shortfalls

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

(a) Date (MM-DD-YYYY)

(b) Amount paid by employer(s)

(c) Amount paid by employees

(a) Date (MM-DD-YYYY)

(b) Amount paid by employer(s)

(c) Amount paid by employees

YYYY-MM-DD YYYY-MM-DD YYYY-MM-DD YYYY-MM-DD YYYY-MM-DD

12345678901234 12345678901234 12345678901234 12345678901234 12345678901234

12345678901234 12345678901234 12345678901234 12345678901234 12345678901234

YYYY-MM-DD YYYY-MM-DD YYYY-MM-DD YYYY-MM-DD

12345678901234 12345678901234 12345678901234 12345678901234

123456789012345123456789012345123456789012345123456789012345-

Totals  18(b)

0 18(c)

0

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

-1234567890123045 -1234567890123045

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

-1234567890123045

20 Quarterly contributions and liquidity shortfalls:

a Did the plan have a "funding shortfall" for the prior year?.......................................................................................................................... XX Yes X No

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

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

Liquidity shortfall as of end of quarter of this plan year

(1) 1st

(2) 2nd

(3) 3rd

0

-1234567890012345

-1234567890012345

(4) 4th
-1234567890102345

Schedule SB (Form 5500) 2018

Page 3

Part V Assumptions Used to Determine Funding Target and Target Normal Cost

21 Discount rate:

a Segment rates:

1st segment:
123.132.9_2 %

2nd segment:
123.152.5_2 %

3rd segment:
123.16.229 %

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

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

23 Mortality table(s) (see instructions) Prior regulation:

_ Prescribed - combined

_X Prescribed - separate

X N/A, full yield curve used

4

1

63

12

_ Substitute

Current regulation:

_ Prescribed - combined

_ Prescribed - separate

_ 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 XX No

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

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

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

27

attachment ..........................................................................................................................................................

Part VII Reconciliation of Unpaid Minimum Required Contributions For Prior Years

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

29 Discounted employer contributions allocated toward unpaid minimum required contributions from prior years

29

(line 19a) .............................................................................................................................................................

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

-1234567890120345
-1234567890120345 -1234567890120345

Part VIII Minimum Required Contribution For Current Year

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

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

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

32 Amortization installments:

Outstanding Balance

a Net shortfall amortization installment............................................................................ b Waiver amortization installment ...................................................................................

-1234567890123405 -1234567890123405

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

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

-123456718490088192435 45
14088945 Installment
-1234567890120345 -1234567890120345
-123456789012345 -12345678901230 45

Carryover balance

Prefunding balance

Total balance

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

-1234567890123045 -1234567890123405

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

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

37

-12345678901230 45 -12345678901230 45
-12345678901230 45

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 40 Unpaid minimum required contributions for all years ........................................................................................... 40 Part IX Pension Funding Relief Under Pension Relief Act of 2010 (See Instructions)

0 0
-12345678901230 45 -12345678901230 45

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

SCHEDULE C

Service Provider Information

OMB No. 1210-0110

(Form 5500)
Department of the Treasury Internal Revenue Service

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

2018

Department of Labor Employee Benefits Security Administration
Pension Benefit Guaranty Corporation

 File as an attachment to Form 5500.

This Form is Open to Public Inspection.

For calendar plan year 2018 or fiscal plan year beginning 01/01/2018

and ending 12/31/2018

A Name of plan ABPOCRDTELFAGNHDIGENERAL ELECTRIC COMPANY PENSION PLAN

B Three-digit

plan number (PN)



000101

C Plan sponsor's name as shown on line 2a of Form 5500 ABPOCRDTELFAGNHDIGENERAL ELECTRIC COMPANY

D Employer Identification Number (EIN) 01239435-0627568820

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 XX 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 disclosures on eligible indirect compensation

(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 disclosures on eligible indirect compensation

For Paperwork Reduction Act Notice, see the Instructions for Form 5500.

Schedule C (Form 5500) 2018 v.180523

Schedule C (Form 5500) 2018

Page 2- 11 x

(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 disclosures on eligible indirect compensation

(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 disclosures on eligible indirect compensation

(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 disclosures on eligible indirect compensation

(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 disclosures on eligible indirect compensation

Schedule C (Form 5500) 2018

Page 3 - 11 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)
MERCER INVESTMENT CONSULTING, INC

61-0736136

(b)
Service Code(s)

(c)

(d)

(e)

Relationship to

Enter direct

Did service provider

employer, employee compensation paid

receive indirect

organization, or by the plan. If none, compensation? (sources

person known to be

enter -0-.

other than plan or plan

a party-in-interest

sponsor)

(f)
Did indirect compensation include eligible indirect
compensation, for which the plan received the required
disclosures?

(g)

(h)

Enter total indirect

Did the service

compensation received by provider give you a

service provider excluding formula instead of

eligible indirect

an amount or

compensation for which you estimated amount? answered "Yes" to element

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

27 50

ANBOCNDEEFGHI ABCDEFGHI ABCD

ALIGHT SOLUTIONS LLC

123456783950114126 345

Yes X No XX

Yes X No X

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

123456789012345 Yes X No X

36-2235791

(b)
Service Code(s)

(c)

(d)

(e)

Relationship to

Enter direct

Did service provider

employer, employee compensation paid

receive indirect

organization, or by the plan. If none, compensation? (sources

person known to be

enter -0-.

other than plan or plan

a party-in-interest

sponsor)

(f)
Did indirect compensation include eligible indirect
compensation, for which the plan received the required
disclosures?

(g)

(h)

Enter total indirect

Did the service

compensation received by provider give you a

service provider excluding formula instead of

eligible indirect

an amount or

compensation for which you estimated amount? answered "Yes" to element

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

15 50 59

ANBOCNDEEFGHI ABCDEFGHI ABCD

123456781950615327 345

Yes X No XX

Yes X No X

123456789012345 Yes X No X

TOWERS WATSON DELAWARE

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

53-0181291

(b)
Service Code(s)

(c)

(d)

(e)

Relationship to

Enter direct

Did service provider

employer, employee compensation paid

receive indirect

organization, or by the plan. If none, compensation? (sources

person known to be

enter -0-.

other than plan or plan

a party-in-interest

sponsor)

(f)
Did indirect compensation include eligible indirect
compensation, for which the plan received the required
disclosures?

(g)

(h)

Enter total indirect

Did the service

compensation received by provider give you a

service provider excluding formula instead of

eligible indirect

an amount or

compensation for which you estimated amount? answered "Yes" to element

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

11 50

ANBOCNDEEFGHI ABCDEFGHI ABCD

123456781900131920 345

Yes X No XX

Yes X No X

Yes X No X

Schedule C (Form 5500) 2018

Page 3 - 12 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)
NORTHERN TRUST COMPANY

36-1561860

(b)
Service Code(s)

(c)

(d)

(e)

Relationship to

Enter direct

Did service provider

employer, employee compensation paid

receive indirect

organization, or by the plan. If none, compensation? (sources

person known to be

enter -0-.

other than plan or plan

a party-in-interest

sponsor)

(f)
Did indirect compensation include eligible indirect
compensation, for which the plan received the required
disclosures?

(g)

(h)

Enter total indirect

Did the service

compensation received by provider give you a

service provider excluding formula instead of

eligible indirect

an amount or

compensation for which you estimated amount? answered "Yes" to element

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

21 50

ANBOCNDEEFGHI ABCDEFGHI ABCD

12345678930812526 345

Yes XX No X

Yes XX No X

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

PORTLAND GENERAL ELECTRIC

123456789012345 0 Yes X No XX

93-0925597

(b)
Service Code(s)

(c)

(d)

(e)

Relationship to

Enter direct

Did service provider

employer, employee compensation paid

receive indirect

organization, or by the plan. If none, compensation? (sources

person known to be

enter -0-.

other than plan or plan

a party-in-interest

sponsor)

(f)
Did indirect compensation include eligible indirect
compensation, for which the plan received the required
disclosures?

(g)

(h)

Enter total indirect

Did the service

compensation received by provider give you a

service provider excluding formula instead of

eligible indirect

an amount or

compensation for which you estimated amount? answered "Yes" to element

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

50 64

APBLCANDESFPGOHNISOR 12345678920617020

ABCDEFGHI

345

ABCD

Yes X No XX

Yes X No X

123456789012345 Yes X No X

VOYA INSTITUTIONAL PLAN SRVCS, LLC

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

02-0488491

(b)
Service Code(s)

(c)

(d)

(e)

Relationship to

Enter direct

Did service provider

employer, employee compensation paid

receive indirect

organization, or by the plan. If none, compensation? (sources

person known to be

enter -0-.

other than plan or plan

a party-in-interest

sponsor)

(f)
Did indirect compensation include eligible indirect
compensation, for which the plan received the required
disclosures?

(g)

(h)

Enter total indirect

Did the service

compensation received by provider give you a

service provider excluding formula instead of

eligible indirect

an amount or

compensation for which you estimated amount? answered "Yes" to element

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

28 50

ANBOCNDEEFGHI ABCDEFGHI ABCD

1234567890521520 345

Yes X No XX

Yes X No X

Yes X No X

Schedule C (Form 5500) 2018

Page 4 - 11 x

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.

(a) Enter service provider name as it appears on line 2 (d) Enter name and EIN (address) of source of indirect compensation

(b) Service Codes
(see instructions)

(c) Enter amount 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.

(a) Enter service provider name as it appears on line 2 (d) Enter name and EIN (address) of source of indirect compensation

(b) Service Codes
(see instructions)

(c) Enter amount 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.

Schedule C (Form 5500) 2018

Page 5 - 11 x

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

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

(a) Enter name and EIN or address of service provider (see
instructions)
ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 1234567890

(b) Nature of
Service Code(s)
10 11 12 13

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

(a) Enter name and EIN or address of service provider (see
instructions)
ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 1234567890

(b) Nature of
Service Code(s)
10 11 12 13

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

(a) Enter name and EIN or address of service provider (see
instructions)
ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 1234567890

(b) Nature of
Service Code(s)
10 11 12 13

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

(a) Enter name and EIN or address of service provider (see
instructions)
ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 1234567890

(b) Nature of
Service Code(s)
10 11 12 13

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

(a) Enter name and EIN or address of service provider (see
instructions)
ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 1234567890

(b) Nature of
Service Code(s)

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

Schedule C (Form 5500) 2018

Page 6 - 11 x

Part III Termination Information on Accountants and Enrolled Actuaries (see instructions)

(complete as many entries as needed)

a Name:

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

b EIN:

123456789

c Position: ABCDEFGHI ABCDEFGHI ABCD

d Address: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

e Telephone:

1234567890

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

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

a Name: c Position: d Address:
Explanation:

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

b EIN:

123456789

ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

e Telephone:

1234567890

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

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

a Name: c Position: d Address:
Explanation:

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

b EIN:

123456789

ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

e Telephone:

1234567890

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

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

a Name: c Position: d Address:
Explanation:

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

b EIN:

123456789

ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

e Telephone:

1234567890

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

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

a Name: c Position: d Address:
Explanation:

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

b EIN:

123456789

ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

e Telephone:

1234567890

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

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

SCHEDULE D (Form 5500)
Department of the Treasury Internal Revenue Service

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
2018

Department of Labor Employee Benefits Security Administration

 File as an attachment to Form 5500.

This Form is Open to Public Inspection.

For calendar plan year 2018 or fiscal plan year beginning 01/01/2018
A Name of plan
PORTLAND GENERAL ELECTRIC COMPANY PENSION PLAN

and ending 12/31/2018

B Three-digit

plan number (PN)



001

C Plan or DFE sponsor's name as shown on line 2a of Form 5500
PORTLAND GENERAL ELECTRIC COMPANY

D Employer Identification Number (EIN)
93-0256820

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: COLLECTIVE SHORT TERM INVESTMENT FD

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

THE NORTHERN TRUST COMPANY

c EIN-PN 36-6036794-001

d Entity
code

C e Dollar value of interest in MTIA, CCT, PSA, or
103-12 IE at end of year (see instructions)

4520288

a Name of MTIA, CCT, PSA, or 103-12 IE: CF MGI EMERGING MARKETS EQUITY PORT

b Name of sponsor of entity listed in (a): MERCER TRUST COMPANY

c EIN-PN 32-6219484-017

d Entity
code

C e Dollar value of interest in MTIA, CCT, PSA, or
103-12 IE at end of year (see instructions)

22512243

a Name of MTIA, CCT, PSA, or 103-12 IE: CF MGI NON-US CORE EQTY PORTFOLIO C

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

MERCER TRUST COMPANY

c EIN-PN 03-0566617-009

d Entity
code

C e Dollar value of interest in MTIA, CCT, PSA, or
103-12 IE at end of year (see instructions)

a Name of MTIA, CCT, PSA, or 103-12 IE: CF MGI US LARGE CAP PASSIVE EQTY PO

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

MERCER TRUST COMPANY

145774308

c EIN-PN 03-0566613-005

d Entity
code

C e Dollar value of interest in MTIA, CCT, PSA, or
103-12 IE at end of year (see instructions)

a Name of MTIA, CCT, PSA, or 103-12 IE: CF MGI ACTIVE LONG CORP INV PORTFOL

b Name of sponsor of entity listed in (a): MERCER TRUST COMPANY

108032033

c EIN-PN 45-6178743-004

d Entity
code

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

C e Dollar value of interest in MTIA, CCT, PSA, or
103-12 IE at end of year (see instructions)

187222890

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

c EIN-PN

d Entity
code

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

e Dollar value of interest in MTIA, CCT, PSA, or
103-12 IE at end of year (see instructions)

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

c EIN-PN

d Entity
code

e Dollar value of interest in MTIA, CCT, PSA, or
103-12 IE at end of year (see instructions)

For Paperwork Reduction Act Notice, see the Instructions for Form 5500.

Schedule D (Form 5500) 2018 v.171027

Schedule D (Form 5500) 2018

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

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

c EIN-PN 123456789-123

d Entity
code

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

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

c EIN-PN 123456789-123

d Entity
code

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

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

c EIN-PN 123456789-123

d Entity
code

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

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

c EIN-PN 123456789-123

d Entity
code

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

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

c EIN-PN 123456789-123

d Entity
code

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

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

c EIN-PN 123456789-123

d Entity
code

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

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

c EIN-PN 123456789-123

d Entity
code

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

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

c EIN-PN 123456789-123

d Entity
code

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

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

c EIN-PN 123456789-123

d Entity
code

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

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

c EIN-PN 123456789-123

d Entity
code

Page 2 - 11 x

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

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

1

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

-123456789012345

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI

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

1

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

-123456789012345

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

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

1

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

-123456789012345

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI

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

1

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

-123456789012345

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

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

1

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

-123456789012345

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

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

1

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

-123456789012345

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI

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

1

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

-123456789012345

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

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

1

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

-123456789012345

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI

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

1

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

-123456789012345

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

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

1

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

-123456789012345

Schedule D (Form 5500) 2018

Page 3 - 11 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

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

plan sponsor

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

a Plan name
b Name of
plan sponsor

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c EIN-PN

ABCDEFGHI ABCDEFGHI

123456789-123

SCHEDULE H

Financial Information

OMB No. 1210-0110

(Form 5500)
Department of the Treasury Internal Revenue Service
Department of Labor Employee Benefits Security Administration
Pension Benefit Guaranty Corporation

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).
 File as an attachment to Form 5500.

2018
This Form is Open to Public Inspection

For calendar plan year 2018 or fiscal plan year beginning 01/01/2018

and ending 12/31/2018

A Name of plan
PORTLAND GENERAL ELECTRIC COMPANY PENSION PLAN

B Three-digit

plan number (PN)



001

C Plan sponsor's name as shown on line 2a of Form 5500
PORTLAND GENERAL ELECTRIC COMPANY

D Employer Identification Number (EIN)
93-0256820

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

b Receivables (less allowance for doubtful accounts):

(1) Employer contributions..........................................................................
(2) Participant contributions ........................................................................
(3) Other.....................................................................................................
c General investments:
(1) Interest-bearing cash (include money market accounts & certificates of deposit)............................................................................................
(2) U.S. Government securities ..................................................................

1b(1) 1b(2) 1b(3)
1c(1) 1c(2)

8994001 4930765

0 371738

(3) Corporate debt instruments (other than employer securities): (A) Preferred ........................................................................................ (B) All other ..........................................................................................

1c(3)(A) 1c(3)(B)

6653

6653

(4) Corporate stocks (other than employer securities): (A) Preferred ........................................................................................ (B) Common.........................................................................................
(5) Partnership/joint venture interests .........................................................

1c(4)(A) 1c(4)(B)
1c(5)

48855340 13615509

40703096 10834681

(6) Real estate (other than employer real property).....................................
(7) Loans (other than to participants) ..........................................................
(8) Participant loans....................................................................................
(9) Value of interest in common/collective trusts .........................................
(10) Value of interest in pooled separate accounts .......................................
(11) Value of interest in master trust investment accounts ............................
(12) Value of interest in 103-12 investment entities....................................... (13) Value of interest in registered investment companies (e.g., mutual
funds).................................................................................... (14) Value of funds held in insurance company general account (unallocated
contracts) ..............................................................................................
(15) Other .....................................................................................................

1c(6) 1c(7) 1c(8) 1c(9) 1c(10) 1c(11) 1c(12) 1c(13)
1c(14) 1c(15)

533012567 33762847

468061762 26762298

For Paperwork Reduction Act Notice, see the Instructions for Form 5500.

Schedule H (Form 5500) 2018 v.171027

Schedule H (Form 5500) 2018

Page 2

1d Employer-related investments:
(1) Employer securities .................................................................................
(2) Employer real property ............................................................................
1e Buildings and other property used in plan operation ...................................... 1f Total assets (add all amounts in lines 1a through 1e) ....................................
Liabilities 1g Benefit claims payable................................................................................... 1h Operating payables ....................................................................................... 1i Acquisition indebtedness ............................................................................... 1j Other liabilities ............................................................................................... 1k Total liabilities (add all amounts in lines 1g through1j) ...................................
Net Assets 1l Net assets (subtract line 1k from line 1f) ........................................................

1d(1) 1d(2)
1e 1f
1g 1h 1i 1j 1k
1l

(a) Beginning of Year
-123456789012345 -123456789012345 -123456789012345 -123456768493107172683245
-123456789012345 -123456789012345 -123456789012345 -1234567895102152463745 -1234567895102152463745
-123456768398005122213545

(b) End of Year
-123456789012345 -123456789012345 -123456789012345 -123456758496704102223845
-123456789012345 -123456789012345 -123456789012345 -123456789501172273945 -123456789501172273945
-123456758496202129243945

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) (B) Participants...................................................................................... 2a(1)(B) (C) Others (including rollovers) .............................................................. 2a(1)(C)
(2) Noncash contributions ............................................................................. 2a(2) (3) Total contributions. Add lines 2a(1)(A), (B), (C), and line 2a(2)................ 2a(3)
b Earnings on investments:

-123456789012345 -123456789012345 -123456789012345 -123456789012345

-1234567890123045

(1) Interest:

(A)

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

2b(1)(A)

(B) U.S. Government securities ............................................................. 2b(1)(B)

(C) Corporate debt instruments.............................................................. 2b(1)(C)

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

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

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

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

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

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

(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)

(3) Rents....................................................................................................... 2b(3)

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

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

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

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

(B) Other .............................................................................................. 2b(5)(B)

(C)

Total unrealized appreciation of assets. Add lines 2b(5)(A) and (B)..............................................................

2b(5)(C)

-123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345
-123456789012345 -1234567891001182263345
-12345678197602132953745 -12345678194609102063945
-123456789012345 -1234567-8191303112933245

-1234567890123045
-1234567819001182263345 -123456789012345 -1234567829903138283845 -1234567-8191303119233245

Schedule H (Form 5500) 2018

Page 3

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

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

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

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

(10) Net investment gain (loss) from registered investment companies (e.g., mutual funds).................................................................

2b(10)

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

Expenses

e Benefit payment and payments to provide benefits:

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

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

(3) Other ........................................................................................................ 2e(3)

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

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

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

h Interest expense............................................................................................. 2h

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

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

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

(4) Other ........................................................................................................ 2i(4)

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

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

Net Income and Reconciliation

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

l Transfers of assets:

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

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

(a) Amount

(b) Total
-1234567-8494509172933545 -123456789012345 -123456789012345 -123456789012345
-1234567891502112453745 -123456789400142403145 -1234567-8590005112853845

-12345678398088152237445 -123456789012345 -123456789012345
-123456789030162532645 -123456789012345 -123456789035112431645 -1234567892023142139245

-12345678398808152273445 -123456789012345 -123456789012345 -123456789012345
-1234567892809122133445 -12345678491707172403845 -1234567-8991802192263645 -123456789012345 -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) XX 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)?

XX Yes

X No

c Enter the name and EIN of the accountant (or accounting firm) below:

(1) Name:GARBACNDTETFHGOHRINTAOBNCLDLEPFGHI ABCDEFGHI ABCD

(2) EIN: 1362-36045555657889

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

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

X

b 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

X

Amount

Schedule H (Form 5500) 2018

Page 4- 11 x

Yes No

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

X

d 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

X

Amount
-123456789012345 -123456789012345

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

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

X

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

X

-12345671800900010020345 -123456789012345 -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

X

-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 X

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 X

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

X

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

X

-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

5a Has a resolution to terminate the plan been adopted during the plan year or any prior plan year?........ X Yes X No
If "Yes," enter the amount of any plan assets that reverted to the employer this year ____________________________________.

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 ABCDEFGHI 123456789

123

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 123456789

123

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 123456789

123

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 123456789

123

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

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
If "Yes" is checked, enter the My PAA confirmation number from the PBGC premium filing for this plan year_4_1_5_3_4_5_3_________________. (See instructions.)

SCHEDULE R

Retirement Plan Information

OMB No. 1210-0110

(Form 5500)
Department of the Treasury Internal Revenue Service
Department of Labor Employee Benefits Security Administration
Pension Benefit Guaranty Corporation

This schedule is required to be filed under sections 104 and 4065 of the Employee Retirement Income Security Act of 1974 (ERISA) and section
6058(a) of the Internal Revenue Code (the Code).
 File as an attachment to Form 5500.

2018
This Form is Open to Public Inspection.

For calendar plan year 2018 or fiscal plan year beginning 01/01/2018

and ending

12/31/2018

A Name of plan

B Three-digit

PORTLAND GENERAL ELECTRIC COMPANY PENSION PLAN

plan number

(PN) 

001

C Plan sponsor's name as shown on line 2a of Form 5500
PORTLAND GENERAL ELECTRIC COMPANY

D Employer Identification Number (EIN)
93-0256820

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

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

1

instructions ...........................................................................................................................................................

0

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):

__3_6_-6_0_3_6_7_9_4_____________________

_______________________________

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

3

9

year ......................................................................................................................................................................

Part II

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

4 Is the plan administrator making an election under Code section 412(d)(2) or ERISA section 302(d)(2)? ..........................

Yes

X No

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 _________
If you completed line 5, complete lines 3, 9, and 10 of Schedule MB and do not complete the remainder of this schedule.
6 a Enter the minimum required contribution for this plan year (include any prior year accumulated funding
deficiency not waived).................................................................................................................................... 6a
b Enter the amount contributed by the employer to the plan for this plan year.................................................... 6b

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

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? ...........................................

Yes

No

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? ....................................................................................................................

Yes

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.............................................................................................

Increase

Decrease

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? ................

Yes

No

11 a Does the ESOP hold any preferred stock? .................................................................................................................................

Yes

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.) ...............................................................................................................

Yes

No

12 Does the ESOP hold any stock that is not readily tradable on an established securities market? .......................................................

Yes

No

For Paperwork Reduction Act Notice, see the Instructions for Form 5500.

Schedule R (Form 5500) 2018 v. 171027

Schedule R (Form 5500) 2018

Page 2 - 11- 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):

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): _______________________________

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): _______________________________

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): _______________________________

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): _______________________________

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): _______________________________

Schedule R (Form 5500) 2018

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 16b
assessed against such withdrawn employers ....................................................................................................

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: ___63_._0 % Investment-Grade Debt: ___35_._0 % High-Yield Debt: _____% Real Estate: _____% Other: ___2_.0_% 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 XX 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 XX Modified duration X Other (specify):

Financial Statements and Report of Independent Certified Public Accountants
Portland General Electric Company Pension Plan
December 31, 2018 and 2017

Contents

Report of Independent Certified Public Accountants Financial Statements
Statements of Net Assets Available for Benefits Statements of Changes in Net Assets Available for Benefits Notes to Financial Statements Supplemental Schedules Form 5500, Schedule H, Part IV, Line 4i; Schedule of Assets (Held at End of Year) Form 5500, Schedule H, Part IV, Line 4j; Schedule of Reportable Transactions

Page 3-4
5 6 7
16 22

GRANT THORNTON LLP 520 Pike St, Suite 2800 Seattle, WA 98101
D +1 206 623 1121 F +1 206 374 2906

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
Trustees and Participants Portland General Electric Company Pension Plan
Report on the financial statements
We were engaged to audit the accompanying financial statements of Portland General Electric Company Pension Plan (the "Plan"), which comprise the statements of net assets available for benefits as of December 31, 2018 and 2017, and the related statements of changes in net assets available for benefits for the years 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 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.
Basis for disclaimer of opinion As permitted by 29 CFR 2520.103-8 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, the Plan administrator instructed us not to perform, and we did not perform, any auditing procedures with respect to the certified information described in Note C, except for comparing such information with the related information included in the financial statements. We have been informed by the Plan administrator that the certifying entity meets the requirements of 29 CFR 2520.103-8. The Plan administrator obtained a certification from this entity as of December 31, 2018 and 2017, and for the years then ended, stating that the certified information provided to the Plan administrator is complete and accurate.
Disclaimer of opinion Because of the significance of the matter described in the Basis for Disclaimer of Opinion 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 financial statements.

GT.COM

Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and each of its member firms are separate legal entities and are not a worldwide partnership.

Supplementary information The supplemental schedules, Schedule of Assets (Held at End of Year) as of December 31, 2018 and Schedule of Reportable Transactions for the year ended December 31, 2018, are presented for purposes of additional analysis and are not a required part of the financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. Because of the significance of the matter described in the Basis for Disclaimer of Opinion paragraph, we do not express an opinion on the supplemental schedule schedules.
Report on form and content in compliance with DOL rules and regulations
The form and content of the information included in the financial statements and supplemental schedules, other than that derived from the certified information described in Note C, 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 Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.
Seattle, Washington October 10, 2019

Portland General Electric Company Pension Plan STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31,

ASSETS
Investments, at fair value
Receivables: Employer contributions Due from brokers for securities sold Interest and dividends
Total receivables
Total assets
LIABILITIES
Due to brokers for securities purchased Accrued administrative expenses
Total liabilities
Net assets available for benefits

2018

2017

$ 546,368,490 $ 629,252,916

281,987 89,751
371,738
546,740,228

8,994,001 4,842,737
88,028
13,924,766
643,177,682

288,813 228,466
517,279
$ 546,222,949

4,836,624 288,843
5,125,467
$ 638,052,215

The accompanying notes are an integral part of these financial statements. 5

Portland General Electric Company Pension Plan STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Years ended December 31,

Additions: Employer contributions
Investment income (loss) : Net appreciation (depreciation) in fair value of investments Dividends Other income
Net investment income (loss)
Total additions (reductions)
Deductions: Benefits paid to participants Administrative expenses
Total deductions
Net increase (decrease)
Net assets available for benefits: Beginning of year
End of year

2018

2017

$

- $ 11,277,360

(51,474,522) 1,018,263 404,401
(50,051,858)
(50,051,858)

105,723,713 649,435 257,978
106,631,126
117,908,486

38,885,274 2,892,134
41,777,408
(91,829,266)

35,746,020 2,997,999
38,744,019
79,164,467

638,052,215

558,887,748

$ 546,222,949 $ 638,052,215

The accompanying notes are an integral part of these financial statements. 6

Portland General Electric Company Pension Plan
NOTES TO FINANCIAL STATEMENTS
December 31, 2018 and 2017
NOTE A ­ DESCRIPTION OF PLAN
The following brief description of the Portland General Electric Company Pension Plan (the "Plan" or the "Pension Plan") is provided for general information purposes only. Participants should refer to the Plan document for more complete information.
General -- The Plan is a defined benefit pension plan of Portland General Electric Company ("PGE" or the "Company"). The Plan's traditional benefit formula (Retirement Program A) was closed to Retirement Program B bargaining employees effective December 31, 1998, and these participants receive interest credits under the Plan's cash balance component. The Plan was closed to new non-bargaining employees effective January 31, 2009, and to new bargaining employees at the Coyote Springs and Port Westward plants, effective December 31, 2011. The Company's Board of Directors has established the Benefits Administration Committee (the "BAC") and Investment Committee (the "Investment Committee") for the Plan and assigned them fiduciary responsibility for the Plan. The BAC oversees the administration of the Plan and the Investment Committee is responsible for selection and monitoring of investments. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).
Eligibility, Vesting, and Benefits -- A participant's benefit becomes fully vested after completing five years of service, except that if any portion of a participant's benefit is determined under the Plan's cash balance component, it is fully vested at all times. Plan benefits are based on a negotiated contract for bargaining employees and a formula that incorporates both credited service and base pay factors for non-bargaining employees. The Plan provides for normal retirement of participants upon reaching age 65. Participants attaining age 55 who are fully vested or participants who become totally and permanently disabled and have completed at least 20 years of benefit service may retire on an early retirement date. Participants may be eligible for several distribution options: lump sum for benefits determined under the Plan's cash balance component or below the small benefit cash-out threshold, straight life annuity, level income, and joint and survivor options. Survivor benefits shall automatically be payable to the eligible beneficiaries of vested employees who die before commencing retirement benefits and (i) while active employees, (ii) after becoming eligible for retirement benefits or (iii) with respect to cash balance accounts, and also to surviving spouses or same-sex domestic partners of terminated vested participants who die before commencing retirement benefits.
NOTE B ­ SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting -- The accompanying financial statements have been prepared under the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP).
Use of Estimates -- The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein as well as disclosures of contingent assets and liabilities and the actuarial present value of accumulated plan benefits at the date of the financial statements. Actual results could differ from those estimates.
Risks and Uncertainties -- The Plan assets are invested in a variety of investments. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk, and overall market volatility risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and such changes could materially affect the amounts reported in the financial statements.
7

Portland General Electric Company Pension Plan
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2018 and 2017
NOTE B ­ SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
Investment Valuation and Income Recognition -- Investments are stated at fair value. Fair value of a financial instrument is the amount 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. See Note D for description of valuation methods.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plan's gains and losses on investments bought and sold as well as held during the year.
Administrative Expenses -- Administrative expenses of the Plan are paid by the Plan as provided in the plan document.
Payment of Benefits -- Benefit payments to participants are recorded upon distribution.
NOTE C ­ INFORMATION CERTIFIED BY THE TRUSTEE
The Plan administrator elected the method of annual reporting compliance permitted by 29 CFR 2520.103-8 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under ERISA. Under this provision of ERISA, investment information and related activity certified as accurate and complete by a qualified institution need not be subjected to independent audit. The Plan administrator has obtained a certification from The Northern Trust Company ("Northern Trust"), the trustee of the Plan, as of and for the years ended December 31, 2018 and 2017 that the following information included in the Plan's financial statements and supplemental schedules is complete and accurate:
· Investments, liabilities due to brokers for securities purchased, and receivables from brokers for securities sold as of December 31, 2018 and 2017
· Plan transactions related to investment income and securities transactions for the years ended December 31, 2018 and 2017
· Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2018 · Schedule H, Part IV, Line 4j ­ Schedule of Reportable Transactions for the year ended December 31, 2018
Accordingly, at the request of the Plan administrator, the Plan's independent certified public accountants performed no procedures on investment information and related activity, other than to agree the information to the trust statements certified by the Plan's trustee and provided to them by the Plan administrator.
NOTE D ­ FAIR VALUE OF INVESTMENTS
Accounting Standards Codification ("ASC") 820, Fair Value Measurements, provides a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value, as follows:
Level 1-refers to securities valued using unadjusted quoted prices from active markets for identical assets;
Level 2-refers to securities not traded on an active market but for which observable market inputs are readily available
8

Portland General Electric Company Pension Plan
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2018 and 2017
NOTE D ­ FAIR VALUE OF INVESTMENTS, Continued
Level 3-refers to securities valued based on significant unobservable inputs. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
Assets valued at net asset value (NAV) as a practical expedient are excluded from the fair value hierarchy. These assets are listed in the totals of the fair value hierarchy, so the total value of the fund can be reconciled.
The Plan's policy is to recognize significant transfers between levels at the end of the reporting period. For the years ended December 31, 2018 and 2017, there were no transfers in or out of Levels 1, 2 or 3.
Asset Valuation Techniques -- Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a description of the valuation methodologies used for assets at fair value. There have been no changes in the methodologies used at December 31, 2018 and 2017.
Common stock investments are equity securities classified as Level 1 based on unadjusted prices in an active market. Principal markets for equity prices include published exchanges such as NASDAQ and NYSE. Other plan assets are common stock securities, see above for valuation techniques.
Shares of registered investment companies held include equity and debt securities classified as Level 1. See above for equity security valuation techniques. Debt securities are highly-liquid United States Treasury and corporate credit mutual fund securities to support the investment objectives of the trusts. These securities are classified as Level 1 instruments due to the highly observable nature of pricing in an active market.
Fair values for Level 2 debt securities, including municipal debt and corporate debt securities, mortgage-backed securities and asset-backed securities are determined by evaluating pricing data, such as broker quotes, for similar securities adjusted for observable differences. Significant inputs used in valuation models generally include benchmark yield and issuer spreads. The external credit rating, coupon rate, and maturity of each security are considered in the valuation if applicable.
Collective trust funds include equity, debt and money market securities managed by Mercer Investment Management and Northern Trust. The Company believes the redemption value of the collective funds is likely to be the fair value, which is represented by the net asset value as a practical expedient. There are no redemption restrictions or unfunded cap limits. A majority of the funds provide for daily liquidity with appropriate written notice. Since these funds are valued NAV as a practical expedient they are not classified in the fair value hierarchy. The Plan is invested in short term investment funds that seek to maintain a stable net asset value. These funds invest in high-quality, short-term, diversified money market instruments, short term treasury bills, federal agency securities, certificates of deposit, and commercial paper. Money market funds held in the Plan are valued at NAV as a practical expedient and are not classified in the fair value hierarchy.
The Plan holds private equity investments that are invested in a combination of primary and secondary fund-offunds which hold ownership positions in privately held companies across the major domestic and international private equity sectors, including but not limited to, venture capital, buyout and special situations. Private equity investments are not classified in the fair value hierarchy since the funds are valued at NAV at the practical expedient. PGE's valuation of individual fund performance compares stated fund performance against published benchmarks.
9

Portland General Electric Company Pension Plan NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2018 and 2017

NOTE D ­ FAIR VALUE OF INVESTMENTS, Continued

The following table set forth by level within the fair value hierarchy a summary of the Plan's investments measured at fair value on a recurring basis at December 31, 2018 and 2017:

Active Markets For Identical
Assets (Level 1)

Other Observable
Inputs (Level 2)

Significant Unobservable
Inputs (Level 3)

Other (1)

2018 Total

Registered Investment $ 26,762,298 $

Companies

Common Stock

40,703,096

Corporate Bonds

-

Investments at NAV:

a) Collective Trust

-

Fund

b) Private Equity

-

- $
6,653
-
-

- $

- $ 26,762,298

-

- 40,703,096

-

-

6,653

-

468,061,762 468,061,762

-

10,834,681

10,834,681

$ 67,465,394 $

6,653 $

- $ 478,896,443 $ 546,368,490

Active Markets For Identical
Assets (Level 1)

Other Observable
Inputs (Level 2)

Significant Unobservable
Inputs (Level 3)

Other (1)

2017 Total

Registered Investment $ 33,762,847 $

Companies

Common Stock

48,855,340

Corporate Bonds

-

Investments at NAV:

a) Collective Trust

-

Fund

b) Private Equity

-

- $
6,653
-
-

- $

- $ 33,762,847

-

- 48,855,340

-

-

6,653

-

533,012,567 533,012,567

-

13,615,509 13,615,509

$ 82,618,187 $

6,653 $

- $ 546,628,076 $ 629,252,916

(1) Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure.
Certain investments at December 31, 2018 and 2017 were valued based on NAV per share as provided by the fund administrator. The following provides additional information regarding their investment strategy and redemption restrictions, if any.

10

Portland General Electric Company Pension Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2018 and 2017

NOTE D ­ FAIR VALUE OF INVESTMENTS, Continued

a. Collective trust funds invest in equity and debt securities. The Company believes the redemption value of
these funds is likely to be the fair value, which is represented by the net asset value as a practical expedient. A majority of the funds provide for daily liquidity with appropriate written notice. Mercer Investment Management funds require 15 days written notice, which may be waived by the investment manager. The collective trust managed by Northern Trust is a short-term investment fund that seeks preservation of capital and liquidity and consistent with these, the highest possible current income. The funds invest in high-quality, short-term, diversified money market instruments, short term treasury bills, federal agency securities, certificates of deposit, and commercial paper. Redemption is permitted daily without written notice.

b. Private equity funds are invested in a combination of primary and secondary fund-of-funds, which hold ownership positions in privately held companies across the major domestic and international private equity sectors, including but not limited to, partnerships, joint ventures, venture capital, buyout, and special situations. Private equity investments are valued at NAV as a practical expedient. Private equity funds are long-term strategies and are illiquid in nature.

NOTE E ­ ACTUARIAL PRESENT VALUE OF ACCUMULATED PLAN BENEFITS

The accumulated plan benefits and changes in accumulated plan benefits below have been prepared from actuarial reports prepared as of January 1, 2018. The actuarial present value of accumulated Plan benefits is estimated by the Plan's consulting actuaries, Willis Towers Watson. The actuarial present value is the amount that results from applying actuarial assumptions to adjust the accumulated Plan benefits to reflect the time value of money (through discounts for interest) and 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.

Accumulated plan benefits are those future periodic payments, including lump-sum distributions that are attributable under the Plan's provisions to the service employees have rendered as of the valuation date. Accumulated Plan benefits include benefits expected to be paid to (a) retired or terminated employees or their beneficiaries, (b) beneficiaries of employees who have died, and (c) present employees or their beneficiaries. Benefits under the Plan are based on employees' compensation as well as age and years of service. Benefits payable under all circumstances -- retirement, death, disability, and termination of employment -- are included, to the extent they are deemed attributable to employee service rendered to the valuation date.

The actuarial present value of accumulated plan benefits as of January 1, 2018 is as follows:

Actuarial present value of accumulated Plan benefits: Vested benefits: Participants currently receiving payments Other participants Total vested benefits

2018
$ 447,257,964 320,508,338 767,766,302

Non-vested benefits

12,913,908

Total actuarial present value of accumulated Plan benefits

$ 780,680,210

11

Portland General Electric Company Pension Plan NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2018 and 2017

NOTE E ­ ACTUARIAL PRESENT VALUE OF ACCUMULATED PLAN BENEFITS, Continued
The changes in the actuarial present value of the Plan's accumulated plan benefits for the year ended January 1, 2018 are as follows:

Actuarial present value of accumulated Plan benefits ­ January 1, 2018

2018 $ 719,890,883

Increase (decrease) during the year attributable to: Accumulated benefits Actuarial (gains)/losses Interest Benefits paid Assumption changes
Net increase

17,273,716 3,029,217 30,002,071 (35,746,020) 46,230,343
60,789,327

Actuarial present value of accumulated Plan benefits ­ January 1, 2018

$ 780,680,210

Pension plan calculations include several assumptions which are reviewed annually with the Company's consulting actuaries and updated as appropriate. The actuarial present value of accumulated Plan benefits has been determined using the entry age actuarial cost method. The significant assumptions used in determining the actuarial present value of accumulated Plan benefits as of January 1, 2018 and 2017 are:

Discount rate Mortality

2018 3.65% RP-2014, custom

2017 4.17% RP-2014, custom

Normal retirement age

63

63

The mortality assumption is the RP-2014 Mortality table, adjusted to 2007, and then projected generationally using a modification of the improvement Scale MP-2014. The modification of the improvement scale reflects lower rates of mortality improvements than the unadjusted Scale MP-2014.
The foregoing actuarial assumptions are based on the presumption that the Plan will continue. Were the Plan to terminate, different actuarial assumptions and other factors might be applicable in determining the actuarial present value of accumulated Plan benefits.

12

Portland General Electric Company Pension Plan
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2018 and 2017
NOTE F ­ PLAN TERMINATION
Although it has not expressed any intention to do so, the Company has the right under the Plan, in certain circumstances, to discontinue its contributions at any time and to terminate the Plan subject to the provisions set forth in ERISA. In the event that the Plan is terminated, the net assets of the Plan will be allocated for payment of plan benefits to the participants in an order of priority determined in accordance with ERISA, applicable regulations thereunder, and the Plan document.
Certain benefits under the Plan are insured by the Pension Benefit Guaranty Corporation (PBGC) if the Plan terminates. Generally, the PBGC guarantees most vested normal age retirement benefits, early retirement benefits, and certain disability and survivor's pensions. However, the PBGC does not guarantee all types of benefits under the Plan, and the amount of benefit protection is subject to certain limitations. Vested benefits under the Plan are guaranteed at the level in effect on the date of the Plan's termination, subject to a statutory ceiling on the amount of an individual's monthly benefit.
Whether all participants receive their benefits should the Plan be terminated at some future time will depend on the sufficiency, at that time, of the Plan's net assets to provide those benefits, the priority of those benefits to be paid, and the level and type of benefits guaranteed by the PBGC at that time. Some benefits may be fully or partially provided for by the then-existing assets and the PBGC guaranty, while other benefits may not be provided for at all.
NOTE G ­ FUNDING POLICY
Contributions to provide benefits under the Plan are made solely by the Company. The Company's funding policy is to make cash contributions to the Plan in amounts as determined by the Plan's independent actuary. The Company met the minimum funding requirements of ERISA for the years ended December 31, 2018 and 2017.
NOTE H ­ EXEMPT PARTY-IN-INTEREST TRANSACTIONS
Certain Plan investments are shares in funds managed by Northern Trust and Mercer Investment Management, LLC. Northern Trust is the trustee as defined by the Plan and Mercer Investment Consulting, Ltd. is the Plan's investment advisor, therefore, these investments and investment transactions qualify as party-in-interest transactions. Fees paid during the year by the Plan Sponsor for professional services rendered by parties-in-interest were based on customary and reasonable rates for such services.
NOTE I ­ FEDERAL INCOME TAX STATUS
The Internal Revenue Service has determined and informed the Company by a letter dated July 14, 2016, that the Plan and related trust were designed in accordance with the applicable regulations of the Internal Revenue Code (IRC). The Company and Plan management believe that the Plan is currently designed and operated in compliance with the applicable requirements of the IRC, and the Plan and related trust continue to be tax exempt. Therefore, no provision for income taxes has been included in the Plan's financial statements.
13

Portland General Electric Company Pension Plan NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2018 and 2017 NOTE I ­ FEDERAL INCOME TAX STATUS, Continued GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize 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. The Company has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2018, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. NOTE J ­ SUBSEQUENT EVENTS Through October 10, 2019, which is the date the financial statements were available to be issued, there were no identified events that require consideration for adjustments to, or disclosure in the financial statements.
14

SUPPLEMENTAL SCHEDULES

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
16

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
17

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
18

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
19

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
20

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
21

Portland General Electric Company Pension Plan EIN: 93-0256820
For the Year Ended December 31, 2018 Form 5500, Schedule H, Part IV, Line 4j; Schedule of Reportable Transactions - Single
22

Portland General Electric Company Pension Plan EIN: 93-0256820
For the Year Ended December 31, 2018 Form 5500, Schedule H, Part IV, Line 4j; Schedule of Reportable Transactions - Single
22

 



 


    
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Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
16

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
17

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
18

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
19

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
20

Portland General Electric Company Pension Plan EIN: 93-0256820 December 31, 2018
Form 5500, Schedule H, Line 4i; Schedule of Assets (Held at End of Year)
21


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