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Retirement plan

THE PNC FINANCIAL SERVICES GROUP, INC. PENSION PLAN

THE PNC FINANCIAL SERVICES GROUP, INC.EIN 25-1435979Plan #002PY 2017
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249 FIFTH AVENUE, 21ST FLOOR, P1-POPP-21-B - PITTSBURGH, PA 15222412-768-5765
Other plans on this EIN
1 filing
#001Retirement-$6.11B assets
Prospect flagsHigh retiree %

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(412) 768-5765
Plan administrator signer
CRYSTAL CALLA
Signed 10/12/2018
How to read this page

Summary metrics

Total assets (EOY)
$5469M
-10.3% from 2016
Total participants
101,992
-0.1% from 2016
Average account balance
$0
No prior year
Annual return
15.25%
-6.98 pp from 2016

Benchmarks

See 43 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined benefit
Participants>=10,000
Cohort43 peers
Snapshot2017
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$4,195
median $8,745
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $14,491,905
Admin fee / account holder
$0
median $81,210
Annual return
15.25%
median 13.09%
Overall peer rank
46th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$5.53B
Average account balance
Total assets / participants with a balance (line 6g)
$48K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
63,791
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$200.00M
Not enough data
2 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
$4K
Not enough data
2 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+4.97%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 of 21 by compensation
ProviderService typeCompensation
ALIGHT SOLUTIONS LLC1 year
Service code 15 · EIN 82-1061233
Recordkeeping
$3,462,446
ABERDEEN ASSET MGT., INC.3+ years
Service code 28 · EIN 51-0368279
Investment Management
$2,820,510
MARATHON ASSET MANAGEMENT3+ years
Service code 28
Investment Management
$1,816,332
HEWITT ASSOCIATES LLC3+ years
Service code 15 · EIN 36-2235791
Recordkeeping
$1,686,253
BAILLE GIFFORD OVERSEAS LTD3+ years
Service code 28 · EIN 22-3438530
Investment Management
$1,534,704
THE BANK OF NEW YORK MELLON3+ years
Service code 21 · EIN 13-5160382
Bank Trustee
$1,421,917
PRUDENTIAL INVESTMENT MGT., INC.3+ years
Service code 28 · EIN 22-2540245
Investment Management
$1,067,425
PACIFIC INVESTMENT MGMT CO LLC3+ years
Service code 28 · EIN 33-0629048
Investment Management
$987,373
SHENKMAN CAPITAL MGT3+ years
Service code 28
461 FIFTH AVE · NEW YORK, NY 10017
Investment Management
$982,413
CENTERSQUARE INV MNGMT INC.3+ years
Service code 28 · EIN 23-2817243
Investment Management
$897,719

Enrolled actuary

1 attachment
SB

THOMAS A. DEFILIPPO

TOWERS WATSON DELAWARE INC.
Enrollment #1706419
ONE PPG PLACE, SUITE 600
PITTSBURGH, PA 15222
(412) 402-4500
Signed 2018-10-02

Reportable transactions (Schedule G)

1 row

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

CategoryCounterpartyRelationship / TermsAddressAmount
Part 3
Non-exempt transaction
THE BANK OF NEW YORK MELLON, N.A.
PLAN TRUSTEE
AN IMPERMISSIBLE LOAN WAS PROVIDED TO THE PLAN TRUSTEE WHICH REPAID THE LOAN AND FILED A 5330
—$563

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
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

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

Open the filing PDF

Plan features & details

Pension benefit codes1A1C
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 1C
    Cash balance or similar plan
    A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).

Opportunity flags

1 tripped
  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II
Admin total
$27.6M
$580 / participant
  • Investment mgmt$13M47.5%
  • Contract admin$5M18.6%
  • Other / not subdivided$9M33.9%
% of EOY assets
0.505%
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 VIRCHOW KRAUSE, LLP
Auditor EIN
390859910
Audit fees
(not subdivided)
Opinion code
Unqualified