Retirement plan
THE PNC FINANCIAL SERVICES GROUP, INC. PENSION PLAN
THE PNC FINANCIAL SERVICES GROUP, INC.EIN 25-1435979Plan #002PY 2022
249 FIFTH AVENUE, 21ST FLOOR, P1-POPP-21-B - PITTSBURGH, PA 15222412-807-6258
Other plans on this EIN
1 filingProspect flagsWind-down / frozen
Filing contacts
From the Form 5500, federal recordPlan administrator signer
CARRIE CARSON
Signed 10/13/2023
Summary metrics
Total assets (EOY)
$5402.5M
-10.3% from 2016
Total participants
115,456
-0.1% from 2016
Average account balance
$0
No prior year
Annual return
-15.95%
-6.98 pp from 2016
Benchmarks
Peer group
Industry52 - Finance and Insurance
Plan typeDefined benefit
Participants>=10,000
Cohort30 peers
Snapshot2022
0
Participant deferral / active EE
$0
median $0
0
Employer contribution / active EE
$0
median $4,244
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
median $1,469,698
0
Admin fee / account holder
$0
median $19,323
34
Annual return
-15.95%
median -15.14%
Overall peer rank
34of 100
34th 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
| Provider | Service type | Compensation |
|---|---|---|
ALIGHT SOLUTIONS LLC6 years Service code 15 · EIN 82-1061233 | Recordkeeping | $4,783,712 |
ABERDEEN ASSET MGT., INC.8+ years Service code 28 · EIN 51-0368279 | Investment Management | $3,448,783 |
MARATHON ASSET MANAGEMENT8+ years Service code 28 | Investment Management | $2,261,619 |
PRUDENTIAL INVESTMENT MGT., INC.8+ years Service code 28 · EIN 22-2540245 | Investment Management | $1,612,174 |
PACIFIC INVESTMENT MGMT CO LLC8+ years Service code 28 · EIN 33-0629048 | Investment Management | $1,121,295 |
CENTERSQUARE INV MNGMT INC.8+ years Service code 28 · EIN 23-2817243 | Investment Management | $1,068,663 |
BLACKROCK3 years Service code 28 60 STATE STREET · BOSTON, MA 02109 | Investment Management | $1,063,394 |
SHENKMAN CAPITAL MGT8+ years Service code 28 461 FIFTH AVE · NEW YORK, NY 10017 | Investment Management | $1,023,381 |
AEW CAPITAL MANAGEMENT8+ years Service code 28 · EIN 04-3329433 | Investment Management | $981,063 |
Service code 28 600 TRAVIS STREET · HOUSTON, TX 770023071 | Investment Management | $868,633 |
Enrolled actuary
1 attachment
SB
THOMAS A DEFILIPPO
WILLIS TOWERS WATSON US LLC
Enrollment #2306419
ONE PPG PLACE
SUITE 600
PITTSBURGH, PA 15222
(412) 402-4500
Signed 2023-09-22
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 codes1A1C
Plan features
- 1ABenefits are primarily pay relatedBenefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
- 1CCash balance or similar planA 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
- InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
Expense breakdown
Schedule H Part II
Admin total
$32.7M
$593 / participant
- Contract admin$33M100.0%
% of EOY assets
0.604%
all-in expense ratio
Categories reported
1 / 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