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Retirement plan

THE PNC FINANCIAL SERVICES GROUP, INC. PENSION PLAN

THE PNC FINANCIAL SERVICES GROUP, INC.EIN 25-1435979Plan #002PY 2024
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249 FIFTH AVENUE, 21ST FLOOR, P-1-POPP-21-B - PITTSBURGH, PA 152222709412-807-6258
Other plans on this EIN
1 filing
#001Retirement-$10.19B assets
Prospect flagsWind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(412) 807-6258
Plan administrator entity
THE PNC FINANCIAL SERVICES GROUP, INC. ADMINISTRATIVE COMMITTEE
EIN 251435979
249 FIFTH AVENUE, 21ST FLOOR P1-POP · PITTSBURGH, PA 152222709
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Summary metrics

Total assets (EOY)
$5529M
-10.3% from 2016
Total participants
115,646
-0.1% from 2016
Average account balance
$0
No prior year
Annual return
4.97%
-6.98 pp from 2016

Benchmarks

See 185 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort185 peers
Snapshot2024
Participant deferral / active EE
$0
median $11
Employer contribution / active EE
$0
median $6,224
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
4.97%
median 6.42%
Overall peer rank
41st 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 18 by compensation
ProviderService typeCompensation
ALIGHT SOLUTIONS LLC8 years
Service code 15 · EIN 82-1061233
Recordkeeping
$4,812,344
ABERDEEN ASSET MGT., INC.10+ years
Service code 28 · EIN 51-0368279
Investment Management
$2,771,389
MARATHON ASSET MANAGEMENT10+ years
Service code 28
Investment Management
$2,447,163
BLACKROCK FINANCIAL MANAGEMENT, INC1 year
Service code 28
60 STATE STREET · BOSTON, MA 02109
Investment Management
$2,120,935
PRUDENTIAL INVESTMENT MGT., INC.10+ years
Service code 28 · EIN 22-2540245
Investment Management
$1,469,558
PIMCO FUNDS1 year
Service code 28 · EIN 95-2632339
Investment Management
$1,165,231
SHENKMAN CAPITAL MANAGEMENT, INC1 year
Service code 28 · EIN 13-3280361
Investment Management
$1,089,582
CENTERSQUARE INVESTMENT MANAGEMENT1 year
Service code 52 · EIN 23-2817243
Indirect Investment Fees
$1,087,651
THE BANK OF NEW YORK MELLON10+ years
Service code 21 · EIN 13-5160382
Bank Trustee
$930,889
VAUGHAN NELSON INVESTMENT MGMT6 years
Service code 28 · EIN 04-3304963
Investment Management
$848,385

Enrolled actuary

1 attachment
SB

THOMAS A DEFILIPPO

WILLIS TOWER WATSON US LLC
Enrollment #2306419
ONE PPG PLACE - SUITE 100
PITTSBURGH, PA 15222
(412) 402-4500
Signed 2025-08-27

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
  • 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
$36.3M
$699 / participant
  • Recordkeeping$5M13.1%
  • Trustee / custodial$938K2.6%
  • Investment mgmt$16M45.0%
  • Legal$82K0.2%
  • Salaries / allowances$181K0.5%
  • Other / not subdivided$14M38.5%
% of EOY assets
0.656%
all-in expense ratio
Categories reported
5 / 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
301413443
Audit fees
$39,000
Opinion code
Unqualified