Offering a defined benefit plan is a powerful recruiting tool, helping employers to attract and retain the most talented employees. BB&T helps clients design a comprehensive strategy that balances staffing goals with investment risk and financial obligations. Our expert pension consultants provide the following services:
- Analysis of company objectives and risk tolerance
- Design and implementation of benefit plan, investment and funding strategies
- Proactive reassessment and modification of strategies
- Investment monitoring and performance evaluation
- Online account management through SponsorLink
Pension plans offer employees peace of mind and security by providing a fixed monthly retirement benefit. High-income professionals likely expect this benefit in addition to a 401(k), because it allows them to maximize their retirement savings. Advantages include:
- Guaranteed retirement income at no cost to the employee
- Portability of vested benefits if they change jobs
- Benefit calculated as a percentage of salary to offset inflation
- 24/7 online account access through PlanTrac
- Access to benefits information and planning tools online
