In 1992, Johnny Carson retired from The Tonight Show, William Jefferson Clinton was elected our 42nd president and the Lethal Weapon movie franchise premiered its third installment. In the same year, PNC introduced Vested Interest to the defined contribution marketplace.
PNC is proud of the progress we’ve made over these 25 years, and the success we’ve achieved. More importantly, though, we are honored to have earned the trust and confidence of the clients we serve.
We invite you to take a moment and share with us this brief journey down memory lane.
1992 — Introduced Vested Interest, with four employees and one Director.
1993 — Converted our first retirement plan, which remained with PNC until the company was purchased and subsequently dissolved in 2007.
1995 — Reached $1 billion in assets under administration.
1998 — Rolled out www.retirementdirections.com website, which began with inquiry-only functionality.
2003 — Migrated client servicing to dedicated service teams (Relationship Manager, Account Manager and Employee Education Consultant).
2012 — Converted nearly 100 plans.
2013 — Passed $10 billion in assets under administration.
2014 — Offered in-plan Roth conversions.
2015 — Reached $12 billion in assets under administration.
2016 — Surpassed $13 billion in assets under administration, serving 835 plans and over 244,000 participants.
2016 — Single client plan hit $1 billion in assets.
2016 — Launched multi-year initiative to enhance Retirement Directions website, including new Plan Health reporting capability for plan sponsors.
2016 — Introduced Fiduciary Investment Services.
2016 — Won Plan Sponsor Council of America first place award for employee education.
2017 — Rolled out a new series of targeted employee education campaigns to promote enrollment, and raise contribution rates and retirement readiness.
2017 — Won Pensions & Investments first place award for employee education campaign.
2017 — PNC Retirement Solutions named one of the top 10 organizations for Defined Contribution Asset Growth by PLANSPONSOR®.
2017 — Achieved $15 billion in assets under administration.
As the timeline suggests, PNC Retirement Solutions continues to devote unrelenting energy to maintaining Vested Interest’s position as an industry-leading defined contribution platform. We started this business guided by the belief that if we provide plan sponsors with a great product and superior service at a fair cost, we would do well. Our experience these last 25 years has made that belief stronger than ever.
Thank you for entrusting us with your retirement plan.
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.
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