BB&T Institutional Services earns awards for its 401(k) participant, sponsor services

BB&T Institutional Services has earned six Best in Class awards in a 2010 national survey of 401(k) providers conducted by PLANSPONSOR Magazine.

PLANSPONSOR magazine awarded BB&T five “Best in Class” Sponsor Services awards in the small market category ($5 million to $50 million plan size). These are:

  • Best in Class award for “Plan Reports and Benchmarking”
  • Best in Class award for “Compliance Support and Testing”
  • Best in Class award for “Legislative and Regulatory Updates”
  • Best in Class award for “Plan Design Flexibility”
  • Best in Class award for “Fee Cost-to-Value”

BB&T also received a national Best in Class Participant Services award in the micro market category (less than $5 million plan size): Best in Class award for “Onsite Meetings”

PLANSPONSOR’S survey results reflect the dedication BB&T has to the 401(k) market and our clients,” said Ray McCulloch, division manager at BB&T Institutional Services. “In a highly competitive marketplace, we are very pleased that plan sponsors continue to recognize BB&T for our high quality products, superior service, and value.”

PLANSPONSOR magazine compiles an annual Defined Contribution Survey, sending approximately 35,000 questionnaires to defined contribution plan sponsors and their providers. More than 5,900 responses were eligible for inclusion in the 2010 survey results. The most recent ratings are based on 2010 performance.

About BB&T Institutional Services:

For more than 130 years, BB&T has provided small and large corporations, charitable organizations, foundations and endowments, and state and local governments with the services and support they need to achieve economic success and financial security. BB&T Institutional Services offers a complete range of employee benefits consulting, fiduciary, philanthropic, corporate trust and investment management services. For more information on the BB&T’s retirement plan solutions, call (800) 866-2288.

About BB&T:

BB&T Corporation is one of the largest financial services holding companies in the U.S. with more than $157.2 billion in assets and market capitalization of $16.7 billion, as of Sept. 30, 2010. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others.