Defined Benefit Plans

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Defined benefit plans are one of the most valued employee benefits. Fully funded by the employer, these plans provide employees a fixed benefit at retirement, generally based on salary, years of employment and age at retirement. BB&T provides employers the following services:

  • Plan design consultation
  • Full-service plan administration and actuarial services
  • Fiduciary guidance

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 BB&T SponsorLinkSM

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

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