Pnc Bank Retirement Plan Services

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Make It Easy To Enroll In Your Plan

PNC Personal Banking All Explained

The quick enrollment feature allows employees to sign up for a retirement plan in four clicks. When you integrate payroll, you can easily see who is eligible for your chosen retirement plan. This means you don’t have to track eligibility separately, saving you time to focus on your business.

How We Make Money

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.

Investment Choice And Fee Transparency

With our open architecture platform, you can choose from thousands of investment options with no proprietary requirements. Fee transparency means you know exactly what youre paying for, and our return of mutual fund revenue share policy gives revenue share payments from mutual funds back to participants.

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Discover Opportunities For Your Financial Future

Putting your financial goals first is a key part to achieving the future you want. From personalized advice, low fees and discounts, a loyalty program and more, we can help you get there.

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Kevin Kolter and Julie Ross were nominated for awards from the Defined Contribution Institutional Investment Association.

Our Approach To Financial Planning Focuses On Personalized Guidance And Insight By Helping You Define Your Goals And Understand What You Want To Achieve We Can Help You Build A Blueprint For Your Financial Well

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As part of our dynamic financial planning process, your PNC Investments Financial Advisor can work with you to:

  • Understand your unique short-term needs, long-term goals, time horizon, tolerance for risk and more
  • Review your probability of success with sophisticated financial planning tools while illustrating the impact of various decisions real-time
  • Construct a customized and comprehensive plan that can be updated regularly to address changes in your personal circumstances, market conditions, portfolio performance, tax laws and more
  • Help you stick to your financial plan
  • Learn more about Advice & Planning

When it comes to achieving your goals, it’s our belief that success is built upon the strong foundation of a comprehensive financial plan, supported by personalized advice and guidance.

Learn how PNC Investments does business, including our qualifications, business practices, fee schedules, and options for how you can work with us by reviewing our Client Relationship Summary, Overview of Products and Services and more. View Details »

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Save More On Taxes With The Secure Act

The SECURE act offers businesses the ability to establish a retirement plan and lower their tax liability. Your business can take advantage of tax credits of up to $5,500 per year, which includes a $500 credit for implementing automatic enrollment in the plan, for three years, if you meet eligibility requirements. These start-up tax credits go towards the costs of starting a new 401 plan. Only new plans are eligible for these tax credits.

Pnc Bank Rolls Out Fiduciary Investment Services For Retirement Plan Sponsors

As banks moan and groan in preparation for the fiduciary rule, PNC Bank has bit the bullet and whipped out a new service.

The bank will provide fiduciary investment advisory services to 401 and other retirement plan sponsors, it announced on Monday. It is part of the bank’s “PNC Retirement Solutions” offering, which it has been delivering to the defined contribution industry for 24 years, PNC said.

The bank will provide both non-discretionary and discretionary investment services. The non-discretionary service is designed for plan sponsors that need help with selecting and monitoring the investment options they offer their participants but want discretion over the investment lineups.

The discretionary service, in contrast, gives PNC full discretion over fund selection, monitoring and replacement. Three types of investment lineups, built for different plan demographic profiles, will be available to plan sponsors under the discretionary service option, PNC said.

“With the Department of Labor’s continued focus on fee transparency and fiduciary responsibilities, we are helping our retirement plan sponsor clients mitigate their risk by taking on the fiduciary role of advising on or managing investment lineups and providing fund options and services suitable for the particular needs and abilities of their workforce,” Bonnie Fawcett, managing director for PNC Retirement Solutions, said in a statement.

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And Other Retirement Plans

Your business has a lot of moving parts. From long-term goals, to day-to-day operations, theres one common driving force: the people. You and your employees are the engine of the whole operation. Offering the right retirement plan options is a great way to get the best people on your team and show employees how much you appreciate what they do. Were glad to support your business with a full menu of 401 and other retirement plan options.

Popular Plan Options

  • Cost-effective plans for small businesses
  • Interactive website for plan sponsor and employees

Other Retirement Plan Options

  • Automated contribution submissions

What You Get from Us

The goals of your organization become the goals of our retirement plan specialists. Our dedicated team offers many options and can customize plans to your specific needs. Well work with you personally to provide unwavering customer service and plans at competitive prices. Well meet with you one-on-one and plan education sessions with your employees. We also offer online services so you can view your retirement plan online, see daily valuations, make transfers, and more.

To put it simply, youll get a partner that cares about you, your business, and your employees. We want to see you succeed.

Questions to consider:

Specialized Solutions For Yourorganizations Retirement Plan

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Whether you are focused on fulfilling fiduciary obligations, driving workforce financial wellness, navigating a complex regulatory landscape, mitigating risk, or containing costs, we can help you prioritize and achieve your plan goals. Our customizable suite of solutions was designed to improve employee outcomes while specifically addressing your top concerns as plan fiduciary.

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Important Legal Disclosures And Information

We are unable to act on any requests submitted via electronic mail to buy, sell, or exchange securities. To place a trade, please call your PNC Investments professional. Please do not use email to send us communications which we require in writing, or which need our immediate attention. Please call Monday – Friday from 8:30 a.m. to 5 p.m. or write us instead at this address: PNC Investment Center 500 Smithfield St, Mailstop P9-PSFD-05-7 Pittsburgh, PA 15222.

This material is meant to educate and not to provide legal, tax, accounting or investment advice. PNC Investments and its affiliates and vendors do not provide legal, tax or accounting advice.

“Recommended” articles and additional information may be provided by PNC Investments affiliates, including PNC Bank, PNC Wealth Management and PNC Institutional Asset Management.

Important Investor Information: Brokerage and insurance products are:

Not FDIC Insured Not Bank Guaranteed Not A DepositNot Insured By Any Federal Government Agency May Lose Value

Securities products, brokerage services and managed account advisory services are offered by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and member FINRA, and SIPC. Annuities and other insurance products are offered through PNC Insurance Services, LLC, a licensed insurance agency.

Bank deposit products and services provided by PNC Bank, National Association. Member FDIC.

The Pnc Financial Services Group Inc Pension Plan

Please don’t reach out to us on live chat or our toll free number unless you’re dealing with a divorce.

  • Benefits accrued under this Plan are primarily pay related
  • This Plan is in the nature of a Cash Balance or similar plan, meaning that the Plan has a cash balance formula for determining benefits. For this purpose, a cash balance formula is a benefit formula in a defined benefit plan by whatever name that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount .

DISCLAIMERS

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Financial Planning For Pensions

Every pension is like a puzzle. Its unique pieces plan assets, liabilities, administrative resources and fiduciary obligations all need to be appreciated and fit together perfectly. We see each component in detail, optimize its value to meet objectives and integrate it into a customized, comprehensive financial plan for your pension.

We’re More Than Just an Investment Manager

We know that municipal entities need more than just investment management. As a national financial services firm, PNC Bank, N.A. is also able to provide a wide range of banking services through our team of local Public Finance bankers dedicated to providing financial solutions and banking services tailored specifically to municipalities. Among the additional services offered by PNC Public Finance:

  • Traditional commercial lending: Term loans, lines of credit
  • Specialized municipal finance solutions: Direct purchase of tax-exempt bonds, Direct Pay Letters of Credit and liquidity facilities for variable rate bonds, tax anticipation notes, bond anticipation notes, tax-exempt equipment leases, and energy efficiency leases
  • Robust treasury management platform: Full continuum of payables and receivables solutions including purchasing cards, lockbox services, merchant card processing, online payment portals, invoice automation and real-time payments

What You Need To Know To Take Control Of Your Financial Life

PNC Bank accused of hiding evidence of wealth managers assault ...

When it comes to planning for retirement, women face different challenges, compared to men. For example:

  • Longevity: On average, women live longer than men1.
  • Earnings potential: Women typically earn less money than men2.
  • Employment opportunities: Women are more likely to work in part-time jobs that don’t qualify for retirement plans3.
  • Career tracks: Working women are more likely than men to interrupt their careers to take care of family members3.
  • Restrained returns: In general, women are more conservative investors than men3.

Overall, women spend less time in the workforce than men, meaning there are fewer years in which they’re likely to contribute to their retirement. At the same time, a woman born in 1980 can expect to live more than seven years longer than a man born the same year.3 Bottom line, women tend to have less invested but generally need those funds to last longer.

Creating your own successful retirement Given the different needs of women in retirement, it’s key to begin planning as early as possible. Here are some steps you can take now.

Know your target As a general rule, you’ll need roughly 70% to 80% of your average annual income to maintain the same lifestyle you were accustomed to prior to retirement. It should be noted, however, that everyone’s situation is unique.

The PNC Investor Center Beverly Road 291 Beverly Rd

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We Are Committed To Helping You Meet Your Fiduciary Obligations Manage Your Investments And Maximize Your Employees’ Success

Our industry expertise spans the following areas:

  • Corporations
  • Healthcare organizations
  • Public funds, including state, county, and local governments

Our sector-specific coverage model supplements our regionally based service teams, which provides our customers with local touchpoints, strategy, and leadership, coupled with industry-leading products, services, and experience.

The retirement benefits you offer to your employees have a direct impact on recruiting and retaining employees and on your employees’ financial wellness.

Empower Field At Mile High

1 As of December 31, 2021.

2 As of December 31, 2021. Individuals and organizations refers to all retirement business of Great-West Life & Annuity Insurance Company and its subsidiaries and affiliates, including Great-West Life & Annuity Insurance Company of New York marketed under the Empower Retirement brand.

3 As of December 31, 2021. Information refers to the business of Great-West Life & Annuity Insurance Company and its subsidiaries, including Great-West Life & Annuity Insurance Company of New York and GWFS Equities, Inc. GWLAs consolidated total assets under administration were $1,180B. AUA is a non-GAAP measure and does not reflect the financial stability or strength of a company. GWLAs statutory assets total $75.9B and liabilities total $73.0B. GWLANY statutory assets total $4.1B and liabilities total $3.9B.

RO1984692-0122

Carefully consider the investment options objectives, risks, fees and expenses. Contact Empower Retirement for a prospectus, summary prospectus for SEC-registered products or disclosure document for unregistered products, if available, containing this information. Read each carefully before investing.

IMPORTANT: The projections, or other information generated on the website by the investment analysis tool regarding the likelihood of various investment outcomes, are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. The results may vary with each use and over time.

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Suit Over Recordkeeping Fees For Pnc Financials Retirement Plan Dismissed

A court found that the plaintiffs did not state a plausible claim for breach of fiduciary duties. They have already filed an amended complaint.

A federal court has dismissed a lawsuit alleging PNC Financial Services Group and its Incentive Savings Plan administrative committee violated their duties of prudence and loyalty by causing the plan to pay excessive administrative and recordkeeping fees.

Judge Christy Criswell Wiegand of the U.S. District Court for the Western District of Pennsylvania agreed with the defendants that the plaintiffs failed to state a claim that the defendants breached their fiduciary duties under the Employee Retirement Income Security Act .

In support of their allegations, the plaintiffs assert that plan participants paid, on average, a per-year administrative fee which rose from about $85 to about $90 from 2014 to 2018. However, recordkeeping fees paid to Alight Solutions, the plans recordkeeper, which account for the majority of the total administrative fee, in general fell from about $57 to $51 over the same period, according to the court decision. The plaintiffs also allege that the defendants caused the plan to compensate PNC Financial Services, at an average of over $235,000 per year from 2014 to 2018, purportedly for certain administrative services performed as the plan administrator.

She granted the plaintiffs leave to file an amended complaint, which they did on August 17.

Insights & Guidance To Support Your Goals

New Leadership at PNC Bank: Meet Louis Cestello

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Pnc Savings Accounts Rates

Heres a closer look at PNC savings account rates. The high-yield savings account isnt available in most of the 28 states where PNC has branches.

Account name
.03% $2,500-plus

Note: Annual percentage yields shown are as of Feb. 17, 2022, and may vary by region for some products. Rates shown are for Massachusetts.

Comparing 401/403 Plans With Iras

When it comes to saving for retirement, two popular vehicles are the 401 ) and an Individual Retirement Account .

However, when faced with the choice between the two of them, how do you know which is best for your situation?

PNC compares the two areas such as eligibility to contribute, annual contribution limits, access to assets during employment and taxability of withdrawals.

Table 1: Comparison of Plan Types

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Pooled Employer Plan: The 401 Plan Designed For Small To Medium

The Paychex Pooled Employer Plan makes it easier for businesses of any size to offer one of the most popular retirement plans for employees. While you reap the benefits of offering a retirement plan, we oversee plan set-up, implementation, monitoring, enrollment, and other duties. Learn why a PEP could be a retirement game-changer for your business.

Other Savings Options At Pnc

PNC investment is the basis of your economic plan

In addition to the standard savings account and high-yield savings account, PNC offers two other savings accounts. The S is for Savings account helps to teach your child about savings with the help of Sesame Street characters and interactive tools. PNC also offers a Virtual Wallet, which is a digital checking account that can be bundled with a savings account. PNC also offers a money market account and certificates of deposit to help savers accomplish their short- and long-term savings goals.

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The Retirement Benefits You Offer To Your Employees Have A Direct Impact On Recruiting And Retaining Employees And On Your Employees Financial Wellness

If you are seeking ways to minimize risk and meet your fiduciary obligations, turn to PNC Institutional Asset Management® to:

  • Take fiduciary responsibility for the selection and monitoring of your plans investment lineup
  • Benchmark fees and services associated with your retirement plan
  • Provide employees with effective retirement, investment, and financial wellness education
  • Develop and execute a financial plan for your pension

Overcharging Of Black And Hispanic Borrowers By National City

In December 2013, the Department of Justice and the Consumer Financial Protection Bureau announced that they had reached an agreement with National City Bank to resolve allegations that the bank had charged Black and Hispanic borrowers higher prices for mortgages between 2002 and 2008, before the acquisition by PNC. Regulators claimed that National City had violated the Fair Housing Act and Equal Credit Opportunity Act by charging more than 75,000 borrowers higher loan rates based on their race or ethnicity rather than their risk level. National City’s lack of pricing guidelines resulted in black borrowers being charged an average of $159 more in extra upfront fees or higher interest than white borrowers. Black borrowers also paid an average of $228 more annually over the life of the loan than white borrowers. Hispanics paid $125 more upfront and $154 more annually than white borrowers. Under the terms of the settlement, PNC was required to pay victims $35 million.

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