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Thinking of Retiring?

Retiring is a major milestone. The information and resources in this section can help you make a smooth transition. We also encourage you to contact a retirement specialist at the HR Service Center for more complete details and personalized help.

Connecting with Your Retirement Specialist

Three months before retiring

How to contact

Call the HR Service Center at 877-968-7762, option 1, weekdays from 9 a.m. to 5 p.m. ET and ask to speak with a retirement specialist. If a retirement specialist isn't available, the HR Service Center representative will schedule a time for your retirement specialist to call you directly.

Your retirement specialist will take your retiree benefit elections over the phone, help you complete and return any required paperwork and help you understand:

  • Your benefit options;
  • Which forms and information you can expect to receive by mail;
  • How to start your Social Security and Medicare benefits, if applicable; and
  • What action steps to take and when.
  • Pension. If you're vested, you may have several payment options. For details, see the Pension Plan booklet.
  • Incentive Savings Plan (ISP) 401(k). If you have a balance in the 401(k), you have a number of options, from leaving it in the plan to taking a distribution, or rolling it into another qualified plan. For details, including restrictions on these options, see the ISP 401(k) booklet.
  • Medical, Dental and Vision Benefits. If enrolled, your employee coverage will stop on your last day of employment at PNC. You can continue coverage temporarily through COBRA, and you may be offered a choice of medical/prescription drug options through our retiree benefits administrator. For information, see Your Retirement Guide or the Retiree Health Care Reimbursement and Life Insurance Plan SPD.
  • Health Savings Account (HSA). If you have an HSA through PNC, it’s yours to keep, and you can use available funds to pay for eligible health care expenses, subject to IRS rules (see Publication 969). PNC’s contributions will end as of your last regular pay. When you become eligible for Medicare, there are several rules and restrictions on HSA eligibility and use. Review the Guidelines on the Health Savings Account and Medicare and consult a personal tax or financial advisor.
  • Vacation. You’ll receive payment for the amount of vacation accrued up to your retirement date, minus vacation already used during that calendar year. Your retirement date is typically the day following the last day of employment, and not the last day you worked.
  • Other PNC Benefits. Based on your eligibility and enrollment, you may have decisions to make about other PNC benefits. See the Leaving PNC Employee Guide for information.
  • Social Security and Medicare. Depending on your age, you may have immediate or future decisions to make about Social Security and Medicare.

This chart provides an overview but does not include every detail that may apply to you. See the other materials in your retirement kit and talk with your retirement specialist for more information.

Before retirement

Six months before you request Social Security benefits

Actions to take

If you’re contributing to a Health Savings Account (HSA), stop all contributions (yours and PNC’s) to coincide with the first month you are enrolled in Medicare.

If you don’t stop contributions at that point, you could incur a 6% excise tax on excess contributions.

Go to Pathfinder Benefits > Health Care > Change Contribution Amount.

Important notes

Once you sign up for Social Security benefits, you are automatically enrolled in Medicare Part A and you are not allowed to contribute to an HSA or receive PNC’s contributions in any month in which you receive Medicare benefits.

If you are over age 65 when you sign up, the Medicare coverage could be retroactive up to six months before the date you requested Social Security. So, if you are actively contributing to an HSA or receiving PNC's contributions to your HSA within six months of requesting Social Security and Medicare Part A, you could incur a 6% excise tax on excess contributions.

Three months before retirement

Actions to take

Contact the HR Service Center at 877-968-7762, option 1, and ask to speak with a retirement specialist. Representatives are available from 9 a.m. to 5 p.m. ET Monday through Friday.

Important notes

The specialist will be your point of contact as you prepare for retirement. He or she will help you understand your options for pension, ISP 401(k), vacation, medical coverage and other benefits.


Actions to take

Contact Social Security at 800-772-1213 for information on receiving a benefit or to apply for benefits to begin.

Important notes

Depending on your birth date, you may begin receiving a reduced Social Security benefit as early as age 62 and will be eligible for a full benefit between the ages of 65 and 67.


Actions to take

If you are over age 65, contact Medicare (800 MEDICARE/800-633-4227) to sign up for benefits.

There is a seven-month window during which you are eligible to sign up: three months before you turn age 65, the month of your 65th birthday and three months after you turn age 65.

If you are enrolled in PNC's employee medical benefits, you have an eight-month window after employee coverage ends to sign up for Medicare without a penalty. COBRA coverage is not considered employee coverage for Medicare eligibility purposes.

Important notes

If you are enrolled in PNC's employee medical benefits, you have an eight-month window after employee coverage ends to sign up for Medicare without a penalty. (Note that COBRA coverage is not considered employee coverage for Medicare eligibility purposes.)

After retirement

Within 60 days after retirement

Actions to take

If you are not eligible for or decide not to enroll in PNC's retiree medical benefits, you may be eligible to continue your PNC employee health care coverage temporarily under COBRA by applying within specific deadlines. If eligible, you’ll receive COBRA materials in the mail at home.

Important notes

If you are eligible for COBRA, materials will be sent to your home address. Contact your retirement specialist if you have questions.

Within 10 to 90 days after retirement

Actions to take

Return the completed forms for the PNC Pension Plan, if eligible, and work with your retirement specialist on any open issues.

Important notes

The specialist will answer your questions and help ensure your forms are completed correctly.