Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year
PNC Financial Services Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year increased by 8.3% to 6.5% in Q4 2023 compared to the prior quarter. Over 3 years (FY 2020 to FY 2023), Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year shows relatively stable performance with a 2.7% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase in the trend rate leads to higher projected benefit obligations and potentially higher annual expenses.
Detailed definition
This is an actuarial assumption representing the expected annual rate of change in the cost of health care benefits prov...
Peer comparison
Standard actuarial disclosure; peers with similar benefit structures will report comparable trend rates based on market health care inflation.
other_defined_benefit_plan_health_care_cost_trend_rate_a_69570eHistorical Data
| Q4 '21 | Q4 '22 | Q4 '23 | |
|---|---|---|---|
| Value | 6% | 6% | 6.5% |
| QoQ Change | — | +0.0% | +8.3% |
| YoY Change | — | +0.0% | +8.3% |
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year at Other Companies
Frequently Asked Questions
- What is PNC Financial Services's defined benefit plan, health care cost trend rate assumed, next fiscal year?
- PNC Financial Services (PNC) reported defined benefit plan, health care cost trend rate assumed, next fiscal year of 6.5% in Q4 2023.
- What is the long-term trend for PNC Financial Services's defined benefit plan, health care cost trend rate assumed, next fiscal year?
- Over 3 years (2020 to 2023), PNC Financial Services's defined benefit plan, health care cost trend rate assumed, next fiscal year has grown at a 2.7% compound annual growth rate (CAGR), from 6.0% to 6.5%.
- What does defined benefit plan, health care cost trend rate assumed, next fiscal year mean?
- The estimated annual percentage increase in the cost of providing health care to retirees, used to calculate future benefit liabilities.