Other Benefits
PNC’s Adoption Assistance benefits are offered to eligible Full-Time and part-time employees. Benefits include financial assistance up to $5,000 for eligible expenses. The child must be age 18 or younger at the time a qualified adoption expense is paid or incurred and cannot be a child for whom you or your spouse/domestic partner is the natural parent.
For more details, read the Adoption Assistance Benefits Summary Plan Description (SPD).
Paid time off for adoptive parents is available under the Parental Leave policy.
The Commuter Benefits Program provides a tax-advantaged program for employees who commute to work. You can enroll at any time; it is not part of annual enrollment.
Employees can pay for eligible commuting costs (parking and mass transit expenses) through automatic, pretax payroll deductions. When you enroll, you select the options and amounts for mass transit and/or parking (up to the IRS limits) that fit your needs. PNC deducts your contribution from your pay before taxes are calculated, which saves you money. If your commuter expenses exceed the individual pretax limits, you can contribute additional amounts on an after-tax basis through payroll deduction.
Key Features
This program offers the convenience of:
- Transit passes delivered right to your door;
- Stored value cards that can be automatically reloaded each month; and
- The option to pay your parking lease directly to the lot or garage.
The Dependent Care Reimbursement Account (DCRA) lets you use pretax dollars to pay for eligible dependent care expenses. These include: day care for your qualified dependents, before- and after-school programs, summer day camp and adult day care so that you (and your spouse if you are married) can work, or so that you can work full-time if your spouse is a full-time student or disabled. For many employees, the DCRA can mean significant tax savings. Note: Although the maximum contribution is $5,000, you may be limited to a lower contribution if you are considered highly compensated in 2019, per IRS rules.
This program provides reimbursement for eligible costs related to eligible undergraduate or graduate classes, degree programs or certain certification programs.
Eligible full-time employees, including Reduced Schedule Professionals, may receive up to $5,250 per year after at least six months of continuous service.
Eligible part-time employees may receive up to $1,200 after 12 months of service and 1,000 hours worked.
Key features:
- Expenses eligible for reimbursement include tuition for courses toward a degree program or certification that is job- or business-related.
- Certain business certification programs have been identified as eligible for reimbursement. The reimbursement level is based on the grade received, or if a passing score is obtained.
The ESPP gives you the opportunity to purchase PNC stock at a discount through payroll deductions. Full-Time employees with six months of continuous service and part-time employees with one year of continuous service as of the first day of the next offering period (Jan. 1 or July 1) are eligible to participate in the ESPP.
Key features
- Once eligible, you may contribute 1% to 10% of your regular pay to purchase PNC common stock at a 5% discount from the fair market value on the purchase date.
- Shares will be deposited to your Fidelity Brokerage Account.
How to enroll
Once eligible, you may enroll in the ESPP any time. Your election will take effect at the beginning of the next offering period.
You can enroll online 24/7 from any computer with internet access.
- Go to Pathfinder from PNC’s Intranet (or directly to pncpathfinder.com).
- Expand the Retirement & Investments panel.
- In the Employee Stock Purchase Plan section, click the Enroll button.
Be sure to review the ESPP Prospectus and Annual Report on Form 10-K.
Also see the Proxy Statement.
If you have questions, contact Fidelity Stock Plan Services at 800-544-9354 between 5 p.m. Sunday and midnight Friday ET, excluding the holiday hours of the New York Stock Exchange.
To learn more about how the ESPP works, where shares are held, suspending or changing your contributions, verifying your balance or selling shares, or leaving PNC, please visit Pathfinder > Retirement & Investments > ESPP > Learn More.
