This excerpt taken from the PNC 10-Q filed May 12, 2008.
Pension and PostRetirement Plans
As more fully described in our 2007 Form 10-K, we have a noncontributory, qualified defined benefit pension plan covering eligible employees. Benefits are derived from a cash balance formula based on compensation levels, age and length of service. Pension contributions are based on an actuarially determined amount necessary to fund total benefits payable to plan participants.
We also maintain nonqualified supplemental retirement plans for certain employees. We provide certain health care and life insurance benefits for qualifying retired employees (post-retirement benefits) through various plans. The nonqualified pension and postretirement benefit plans are unfunded.
The components of our net periodic pension and post-retirement benefit cost for the first three months of 2008 and 2007 were as follows: