ERISA - PNC Bank, National Association
Treasury Management Services 408(b)(2) Disclosure Document
Sweep Services
Type of Service
Sweep Investment Services
Description
On a daily basis, PNC will sweep uninvested cash held in your DDA to a money market fund specified by you. For more information regarding this service, please refer to your Sweep Investment Services Terms and Conditions.
Fees/Notes
Pursuant to the Agreement and the Terms and Conditions, PNC is entitled to both (i) the monthly fee, debited from the account specified in the Fee Schedule attached to the Terms and Conditions and (ii) compensation derived from the money market mutual fund (or its affiliate). PNC receives shareholder servicing fees (12b-1 fees) from various money market mutual funds (or affiliates), as disclosed in the fund prospectus. PNC also receives supplemental revenue directly from the funds equal to 5-10 basis points (0.05%-0.10%) annually paid on all balances in the fund. For more information regarding the compensation that we may receive with respect to plan investments in the money market mutual funds available under this service, please call Treasury Management Client Care at (800) 669-1518.
Rates of return for money market mutual funds can be seen on your monthly sweep investment statement. A current version of the fund prospectus was recently distributed to all sweep customers investing in money market funds. If you did not receive the most recent version of the fund prospectus please call Treasury Management Client Care at 1-800-669-1518.
If you need a copy of your Agreement or related documents, please call Treasury Management Client Care at 1-800-669-1518.
Traditional Banking
Traditional banking services, please see the PNC Treasury Management (Traditional Banking) - 408(b)(2) Disclosure Document.
If you need a copy of your Agreement or related documents, please call Treasury Management Client Care at 1-800-669-1518.