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
Higher rates increase the projected benefit obligation and may lead to higher future expense recognition.
Detailed definition
This is the assumed annual rate of increase in the per capita cost of covered health care benefits for the next fiscal y...
Peer comparison
Standard actuarial assumption disclosed by companies with significant post-retirement benefit obligations.
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 expected percentage increase in health care costs for the coming year used to calculate pension liabilities.