This excerpt taken from the PNC 10-Q filed May 9, 2007.
CONTRIBUTIONS, INTEREST CREDITS AND VESTING
4.1 Accounts. The Administrator shall establish an Account on behalf of each Participant which shall be credited or debited, as the case may be, with Basic Contributions pursuant to Section 4.2, Interest Credits pursuant to Section 4.3, and payments pursuant to Article V. Each such Account shall consist of such subaccounts as are necessary or desirable to the Administrator for the convenient administration of the Plan. The Accounts and subaccounts shall be bookkeeping reserve accounts only and shall not require segregation of any funds of the Sponsor or the Employer or provide any Participant with any rights to any assets of the Sponsor or the Employer, except, to the extent applicable, as a general creditor thereof. Neither a Participant nor a Participants Beneficiary shall have any right to receive payment of any amount credited to the Participants Account except as expressly provided in Article V of this Plan.
4.2 Basic Contributions.
(a) In General. As of the last business day of each calendar year beginning on or after January 1, 1995, the Account of each eligible Participant under this Plan shall be credited with Basic Contributions in an amount equal to 3% (or such other percentage as may be determined from time to time in the discretion of the Committee with respect to all eligible Participants collectively) of that portion of the Participants Compensation for such calendar year that exceeds $150,000 (as indexed by the Secretary of the Treasury pursuant to Code §401(a)(17)(B)). Subject to the provisions of Article IX, Basic Contributions shall be credited to each eligible Participants Account each calendar year regardless of whether such Participant is employed by the Employer on the last day of such calendar year.
(b) Opening Account Balance. Each employee eligible to participate in this Plan on January 1, 1995, shall have Basic Contributions credited to his Account as of January 1, 1995, equal to 3% of that portion of the Participants 1994 Compensation that exceeded $150,000.
4.3 Interest Credits. As of each Valuation Date (and such other dates as the Administrator, in its discretion, may determine), the Account of each Participant shall be credited with interest (Interest Credits) at the per annum rate of 5%, with respect to all amounts credited to the Participants Account. The Interest Credit under this Section 4.3 for any Valuation Date shall be determined prior to crediting a Participants Account with any amount determined under Section
4.2 with respect to such calendar year and shall be based on the balance of the Participants Account as of the immediately preceding Valuation Date, with appropriate adjustments for payments made therefrom since such Valuation Date. Notwithstanding anything in the Plan to the contrary, in the event that the balance of a Participants Account shall be distributed prior to the last day of a calendar year (as of which the interest would ordinarily be credited), the Interest Credit otherwise allocable to such Participants Account for such year shall be prorated, based upon the number of complete calendar months which have elapsed from the first day of such calendar year to the date of distribution.
4.4 Vesting. Each Participant shall be at all times fully vested in and have a nonforfeitable right to the aggregate amount credited to the Participants Account.