Public Defined Benefit Pension Plans

Solutions for Public Defined Benefit Plans

The challenges for trustees of public defined benefit plans in managing these types of retirement plans, including investment, fiduciary, and regulatory requirements, can make the job a daunting task.

We have built a long-standing reputation for delivering a wide range of customized investment management, custody and pension payment services. Our services are designed to help government and municipal plan sponsors of pensions, VEBAs, and OPEBs meet their unique investment challenges and achieve growth goals, while mitigating risk and minimizing administrative burdens.

We believe that our customized approach and focus on client-specific solutions can help public plan sponsors to provide the retirement benefits earned by the men and women who serve our communities through public service.

• Help to formulate and implement an Investment Policy Statement
• Formulate investment strategy and advice as a fiduciary
• Provide liquidity management and funded status monitoring
• Serve as trustee and custodian, including benefit payment
  services
• Deliver ongoing capital markets updates and board education

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
   

Consulting
Guidance on governance and fiduciary structure, IPS development and strategic asset allocation

Fiduciary Investment Management
PNC acts as an investment manager, helping the plan sponsor fulfill its fiduciary duty to prudently manage plan assets

Portfolio Management
PNC manages daily valuation, transaction management, monitoring and execution of asset allocation changes

Custody & Trustee Solutions
The safekeeping and segregation of plan assets in accordance with fiduciary obligations as applicable; periodic account statements

Asset Allocation & Manager Selection
Investment implementation including manager research, contracting and transition management

Pension Payment Processing
Cash movement, benefit payments, tax withholding and reporting