News Release Details
Financial Press Release
PNC Announces Investments in Employees, Communities
- Provide for employees in the defined benefit pension plan an additional
$1,500to their existing pension accounts.
- Provide a
$1,000cash payment to approximately 47,500 employees in the first quarter of 2018. This will impact all employees below a certain compensation band, representing approximately 90 percent of PNC employees.
- Raise the minimum pay rate to
$15an hour by the end of 2018, accelerating the goal that has been underway for some time.
- Make a
$200 millioncontribution to the PNC Foundation, which supports early childhood education through PNC's Grow Up Great® initiative.
"The tax reform law creates an opportunity to reward our employees who are working hard each day to serve our customers, build strong relationships in our communities and create long-term value for our shareholders," said
For more information about how PNC invests in its employees, including employee benefit programs, see the PNC 2016 Corporate Social Responsibility Report.
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