BB&T seeks to attract and retain the best talent in the financial services industry. To do that, we offer our associates a comprehensive and competitive benefits package that includes health insurance, retirement savings and life and accident insurance. In addition, our strong commitment to professional development and work-life balance is evident by the benefits that we offer in those areas.
- Medical care – The BB&T Medical Program provides medical coverage that's effective on the date an associate begins work and can be used nationwide. The program offers a choice between two preferred provider organization (PPO) plan options. BB&T pays approximately 75% of the premium cost for our associates' medical coverage.
- Dental care – BB&T offers optional dental coverage, at discounted group rates, which provides for routine care, basic and major services, and children's orthodontia.
- Vision care – Vision care benefits, which are offered by providers in the Vision Service Plan (VSP) network, typically cover 100% of charges for annual eye exams and the cost of eyeglasses or contact lenses with no copayments.
- Flexible Spending Accounts – The Internal Revenue Service (IRS) allows money to be deposited into Flexible Spending Accounts (FSAs) on a pretax basis to pay for qualified out-of-pocket health care and dependent care expenses. Contributions of up to $5,000 per year may be made to both the Health Care and Dependent Care FSAs.
- LifeForce – Our innovative wellness program offers associates an opportunity to develop and manage a healthy lifestyle, as well as a way to decrease their medical coverage premiums.
- Retiree medical insurance – Medical insurance is available to retirees who participated in the programs as active associates.
Life and accident insurance
- Term life insurance – BB&T associates are provided basic term life insurance at no cost to them. Associates may choose to purchase supplemental term life insurance coverage.
- Dependent life coverage – BB&T offers dependent life insurance that covers family members. This policy pays a $10,000 benefit in the event of a spouse's death and $7,500 in the event of a child's death.
- Disability coverage – Basic disability insurance is provided by BB&T at no cost to the associate and replaces a percentage of an associate's salary should they become disabled. Additional disability coverage may be purchased by an associate at a minimum cost.
- Accidental death and dismemberment – This policy pays a benefit to the associate or their designated beneficiary in the event of an accident resulting in the death of or certain dismembering injuries to the covered person.
- Business Travel Accident Insurance – BB&T provides business travel accident insurance to associates who may be injured while traveling on company business.
- Retiree term life insurance – Term life insurance is available to retirees who participated in the program as active associates.
- BB&T Corporation 401(k) Savings Plan – Our 401(k) savings plan offers a 100% company match on up to 6% of an associate's compensation per pay period. The plan offers a range of investment options and professional advice.
- BB&T Corporation Pension Plan – We're proud to reward long-standing associates with a defined benefit pension plan, a rarity among employers. BB&T fully funds the plan, and associates are 100% vested after 5 years of service.
BB&T is committed to making substantial investments in associate education. We provide continual learning and training opportunities.
- Continuing education – A number of educational opportunities are available through BB&T University and professional affiliations. Associates are eligible for 100% reimbursement or prepayment of related costs when they receive management approval and then successfully complete work-related courses.
- Formal degree programs – BB&T formal degree programs provide the opportunity for associates to pursue undergraduate or graduate degrees. Associates who receive management approval to participate in formal degree programs are eligible for reimbursement of related costs. Criteria for reimbursement and service agreement requirements vary based on whether the associate pursues a graduate or undergraduate degree.
BB&T recognizes the importance of achieving a balance between your career and personal life. Our work-life benefits include paid time away from work (including holidays, vacation and short-term absence days), time for parents to be involved in their children's school, a scholarship program, an Employee Assistance Program and more.
- Holidays – BB&T observes the Federal Reserve holiday schedule, which means 10 paid holidays are included in the BB&T work schedule each year. Some subsidiaries follow different holiday schedules.
- Vacation – We provide a competitive vacation package that allows associates the time necessary for mental, physical and emotional relaxation. The number of vacation days an associate may take is based on years of service, and increases with tenure.
- Short-term absence pay – BB&T short-term absence pay provides salary continuation to eligible associates who need to be absent from work due to any number of reasons. Short-term absence pay may be used for personal illness or injury, maternity leave, caring for a family member incapable of self-care, bereavement and more.
- Jury duty – Associates receive paid time off to serve on a jury.
- Parental involvement in schools – To support parents with their involvement in the education of their children, BB&T provides time parents may use to participate in school activities, such as attending parent-teacher conferences.
- Scholarship program – The BB&T scholarship program provides up to 10 scholarships each year to children of BB&T associates. The program and the selection process are administered by the National Merit Scholarship Corporation.
- Employee Assistance Program – In addition to offering clinical counseling services, the Employee Assistance Program (EAP) features a number of work and life services. Services include childcare and eldercare assistance, financial services, legal services, identity theft recovery services and daily living services.
- Banking benefits – BB&T associates receive free or discounted rates on a wide array of banking, investment and insurance services.
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Forbes rates BB&T as one of the best large employers. They ranked BB&T #213 out of 500 large employers (employers with more than 5,000 employees) in 2017.