Retirement & Investments

Pension Plan

Generally, full-time employees are eligible after six months of service; part-time employees are eligible after completing one year of service.* No enrollment is necessary. You begin to accrue a benefit the first day of the following month.

*Harris Williams employees do not participate in the PNC Pension Plan.

Key features:

  • Plan benefits are completely funded by PNC; you do not contribute.
  • You automatically begin accruing a benefit after becoming eligible.
  • The benefit you accrue is a quarterly earnings credit calculated as a percentage of your eligible compensation. The plan has a “cash balance” design, which means you accrue earnings credits and interest credits quarterly during the year.
  • The benefit generally vests after three years of service.
  • Minimum Earnings Credit: Effective Jan. 1, 2018, you will receive a minimum earnings credit of $2,000 each year, if you are a participant in the Plan for the full year and employed by PNC on the last business day of the year. (If you’re an active participant for less than a year, your minimum credit will be prorated for the partial year of participation.)

To learn more about eligibility, features, vesting and when you can receive plan benefits, please visit the PNC Pension Plan Summary Plan Description (SPD).