PNC FINANCIAL SERVICES GROUP INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
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Estimated Cash Flows
The following table provides information regarding our estimated future cash flows related to our various plans.
Table 96: Estimated Cash Flows
| Pension Plans · Postretirement Benefits | |||||
|---|---|---|---|---|---|
| In millions · Qualified Pension · Nonqualified Pension | |||||
| Estimated 2024 employer contributions | $24 | $23 | |||
| Estimated future benefit payments | |||||
| 2024 | $358 | $24 | $23 | ||
| 2025 | $332 | $24 | $23 | ||
| 2026 | $353 | $24 | $23 | ||
| 2027 | $345 | $24 | $23 | ||
| 2028 | $335 | $22 | $22 | ||
| 2029-2033 | $1,636 | $93 | $104 | ||
The qualified pension plan contributions are deposited into the Trust, and the qualified pension plan benefit payments are paid from the Trust. We do not expect to be required to make a contribution to the qualified plan for 2024 based on the funding calculations under the Pension Protection Act of 2006. For the other plans, total contributions and the benefit payments are the same and represent expected benefit amounts, which are paid from general assets. Postretirement benefits are net of participant contributions. Estimated cash flows reflect the partial funding of postretirement medical and life insurance obligations in the VEBA.
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