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401(k), 403(b) and Profit Sharing Plans

A 401(k) is an attractive employee benefit plan that provides the foundation to attract and retain valuable employees. Our trained retirement specialists can help you design a retirement plan to achieve success for your plan and its participants. We offer:

Plan design and monitoring
Participant education programs
Flexible plan features and multiple investment options
Trustee services and fiduciary support

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401(k) Select

Designed for start-up or existing plans with less than $2 million in assets. All plans receive:

Daily valued recordkeeping, full compliance and administrative services
Experienced client service team to assist with plan issues, investment monitoring and fiduciary responsibilities
Multiple mutual fund options with no proprietary fund requirements

Sponsor Services

Plan design consultation and BB&T prototype plan document
Full compliance and administrative services with service guarantees
State-of-the-art plan sponsor website with online reporting, compliance testing and participant account access
Multiple fund options covering all major asset classes, investment policy statement and ongoing investment monitoring reports
Trustee services and fiduciary support

Participant Services

Personalized enrollment kits and online planning tools
Toll-free Interactive Voice Response system and call center representatives
Quarterly participant statements
Personalized enrollment kits
Morningstar Retirement Manager investment advisory services

OmniElite

Designed for plans with $2 million to $25 million in assets. Services include:

A dedicated local consultant to assist you with plan design, investment monitoring, regulatory updates and overall plan servicing
A dedicated analyst to oversee the daily operations of your plan
A communication specialist to help develop an effective participant education strategy

Sponsor Services

Plan design consulting, BB&T prototype plan document and summary plan description
Assistance in maintaining a current Investment Policy Statement
Daily valuations, contribution and distribution processing
Full compliance and 5500 reporting package
Online plan management and quarterly reports
Fiduciary review and trend analysis

Participant Services

Fully functional participant website, interactive voice response and call center operator assistance
Customized enrollment books with plan highlights, fund fact sheets and worksheets
Employee meetings and webinar services presented by communication specialists
Targeted participant messaging and gap analysis to measure retirement readiness
Online retirement planner and investment advice through ProNvest

Signature Plan Services

Designed for plans with $25 million or more in plan assets. Our Signature clients can expect the highest level of services with dedicated, experienced, ERISA professionals providing:

A highly skilled and credentialed BB&T consultant assigned to your plan as your primary contact
Daily recordkeeping and administration for multiple contribution types, comprehensive compliance testing and eFAST 5500 reporting prepared by a senior analyst
A customized employee communication plan prepared by a dedicated communication strategist who will monitor and measure retirement readiness
Trustee and fiduciary services to help you maintain a compliant plan and keep current on regulatory changes

Sponsor Services

BB&T prototype plan document or individually designed plan working with your outside counsel
Plan sponsor website providing online reports, access to participant account information and administrative forms
SunGard OmniPlus recordkeeping system with online beneficiary maintenance
Optional administrative outsourcing of distribution authorization
Open architecture fund selection, Target Date Funds, Stable Value funds and BB&T FDIC Insured Deposit Program, and in-plan retirement income annuity option
Investment advisory services available through SHDR Investment Advisers, Inc., a subsidiary of BB&T

Participant Services

Full services participant website, voice response system and call center opt-out
Multimedia participant education seminars, enrollment guides and targeted communications to prepare participants for retirement
Quarterly participant statements mailed to participant homes or delivered electronically
Asset allocation tools, online retirement planner and investment advice through ProNvest