PNC Retirement Solutions is making significant strides toward its goal of becoming an industry-leading retirement plan provider. As 2017 comes to a close, Inside Vested Interest sat down with Sherri Painter, the organization’s recently appointed leader, to discuss the organization’s plans for 2018 and beyond.
Inside Vested Interest: Sherri, what are your top priorities now that you have assumed the leadership of PNC Retirement Solutions?
Sherri Painter: This year, our signature Vested Interest® defined contribution product, celebrated its 25th anniversary. So while it offers competitive solutions for our satisfied clients, we know we must continue to innovate through technology advancement and new service offerings that meet our clients’ changing needs.
Inside Vested Interest: Can you please expand on the innovations and new service offerings for clients?
Sherri Painter: This year, we rolled out several technology enhancements for our defined contribution bundle, Vested Interest.
In December 2017 and in 2018, we will roll out additional technology enhancements that are designed to either streamline plan administration for sponsors or to help employees consider and seamlessly act on their decisions when planning for retirement.
We also plan to introduce services for participants who want more personalized education and guidance on their retirement investing. We will share details about our new services in early 2018.
Inside Vested Interest: How are clients responding to the web technology innovations? Does the organization benchmark its web technology?
Sherri Painter: This year marked the completion of phase one of our website’s planned enhancements. We regularly benchmark the website.
This year, we engaged with Corporate Insight, a research and consulting firm focused on competitive intelligence and customer experience analysis to assist in benchmarking the website. Our Retirement Directions website was benchmarked against the websites of several top competitors in the retirement industry in several user experience categories such as participant homepage, performance reporting, transaction capabilities, educational content, and more.
The research gave us crucial insights as well as great news. In seven out of eight user experience categories, our site rated average or above, and it ranked 2nd overall in help and self-service and 3rd overall in transactions. Two features that set our website apart from other companies were our online chat services and statements on demand—which many competitors do not offer.
Inside Vested Interest: Sherri, thank you so much for sharing your perspective. Any closing thoughts?
Sherri Painter: We remain focused on the needs of our clients and our clients’ feedback is important. I want them to know we listen to and strive to address their concerns. 2017 has been an excellent year. I look forward to 2018 and continuing to work with our clients and their employees.
The PNC Financial Services Group, Inc. (“PNC”) uses the marketing names PNC Retirement Solutions® and Vested Interest® for defined contribution plan services and investment options provided through its subsidiary, PNC Bank, National Association (“PNC Bank”), which is a Member FDIC. PNC Bank also provides custody, escrow, and directed trustee services; FDIC-insured banking products and services; and lending of funds. Insurance products may be provided through PNC Insurance Services, LLC, a licensed insurance agency affiliate of PNC, or through licensed insurance agencies that are not affiliated with PNC; in either case a licensed insurance affiliate may receive compensation if you choose to purchase insurance through these programs. A decision to purchase insurance will not affect the cost or availability of other products or services from PNC or its affiliates. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC does not provide services in any jurisdiction in which it is not authorized to conduct business.
“Vested Interest” and “PNC Retirement Solutions” are registered service marks of The PNC Financial Services Group, Inc.
Investments: Not FDIC Insured. No Bank Guarantee. May Lose Value.