Retirement plan
THE PNC FINANCIAL SERVICES GROUP, INC. INCENTIVE SAVINGS PLAN
THE PNC FINANCIAL SERVICES GROUP, INC.EIN 25-1435979Plan #001PY 2020
249 FIFTH AVENUE, 21ST FLOOR, P1-POPP-21-B - PITTSBURGH, PA 15222412-807-6258
Other plans on this EIN
1 filingProspect flagsLow returns
Filing contacts
From the Form 5500, federal recordPlan administrator signer
CARRIE CARSON
Signed 10/14/2021
Summary metrics
Total assets (EOY)
$7692.1M
-8.4% from 2016
Total participants
67,674
+3.6% from 2016
Average account balance
$116,997
-8.9% from 2016
Annual return
12.33%
-10.21 pp from 2016
Benchmarks
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants>=10,000
Cohort76 peers
Snapshot2020
36
Participant deferral / active EE
$6,349
median $6,844
29
Employer contribution / active EE
$3,045
median $4,263
51
Participation rate
96.3%
median 96.2%
39
Avg account balance
$116,997
median $139,426
27
Admin fee / account holder
$96
median $55
19
Annual return
12.33%
median 15.01%
Overall peer rank
33of 100
33rd percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$10.19B
Average account balance
Total assets / participants with a balance (line 6g)
$135K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
75,644
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
100.0%
Contributions (total)
Employer and participant dollars contributed each year
$584.86M
Contributions per participant
Average employer and participant contribution per enrolled participant
$11K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+14.02%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$109
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 9 by compensation
| Provider | Service type | Compensation |
|---|---|---|
ALIGHT SOLUTIONS LLC4 years Service code 15 · EIN 82-1061233 | Recordkeeping | $3,013,573 |
Service code 26 · EIN 35-2421957 | Advisory (Participants) | $2,252,361 |
Service code 26 · EIN 35-2421957 | Advisory (Participants) | $459,795 |
CAMBRIDGE ASSOCIATES LLC6+ years Service code 17 125 HIGH STREET · BOSTON, MA 021102112 | Pension Consulting | $246,094 |
PNC FINANCIAL SERVICES6+ years Service code 13 · EIN 25-1435979 | Contract Administrator | $189,634 |
FIDUCIARY COUNSELORS1 year Service code 29 · EIN 23-3709903 | Legal | $85,638 |
BAKER TILLY US, LLP2 years Service code 10 · EIN 39-0859910 | Accounting | $27,650 |
TOWERS WATSON AND CO6+ years Service code 17 · EIN 23-1159360 | Pension Consulting | $22,957 |
MORGAN LEWIS AND BOCKIUS LLP6+ years Service code 29 1701 MARKET STREET · PHILADELPHIA, PA 191032921 | Legal | $8,151 |
Top hat statement on fileNQDC
Filed July 15, 2025 (most recent of 3 filings on file)
Plan administrator
Plan administrator name— Sign in and upgrade to view
249 Fifth Avenue, 21st Floor, P1-POPP-21-B
Pittsburgh, PA 15222
Plans declared (2)
- The PNC Financial Services Group, Inc. Transition Severance Plan1,325 emp
- The PNC Financial Services Group, Inc. Executive Severance Plan15 emp
Total covered: 1,340 employees
Plan features & details
Pension benefit codes2F2G2J2O2S2T3H
Plan features
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 2OESOP other than a leveraged ESOPEmployee stock ownership plan that is not leveraged.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
1 tripped
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
Expense breakdown
Schedule H Part II
Admin total
$6.3M
$122 / participant
- Investment mgmt$189K3.0%
- Contract admin$3M44.5%
- Other / not subdivided$3M52.5%
% of EOY assets
0.082%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- BAKER TILLY US, LLP
- Auditor EIN
- 390859910
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified