BB&T Institutional Services Wins "Best in Class" Awards
RALEIGH, NC, December 17, 2009 -- BB&T Institutional Services today said it has earned nine "best in class" awards for 2009 among bank and mutual fund company 401k providers in a national survey by PLANSPONSOR magazine.
The magazine's annual Defined Contribution survey includes more than 35,000 defined contribution plan sponsors.
For companies, municipalities and organizations in the $5 million-$50 million (in revenues) range, BB&T received "best in class" awards in the Participant Services and Sponsor Services categories.
For Participant Services, it ranked at the top of the class for "statement clarity," "retiree services" and "participant services fees." In the Sponsor Services category, BB&T earned honors for "internet services," "compliance," "account representative knowledge," "responsiveness," "regulation updates" and "staff consistency."
"As these positive rankings indicate, BB&T has a strong commitment to the 401k market and superior client service," said BB&T Institutional Services Manager Ray McCulloch. "Our clients value our knowledge and consistency, and know they can continue to count on us. We are proud to offer quality products and services and a competitive price."
With more than $14 billion in assets under management and administration, Raleigh-based BB&T Institutional Services serves companies, organizations and government entities that need institutional investment management, employee benefit consulting, retirement planning, corporate trust services, and philanthropic services.
About PLANSPONSOR
Stamford, Conn., based PLANSPONSOR provides market intelligence to the 401k and retirement industry. PLANSPONSOR magazine has provided coverage of the U.S. pension industry for nearly a decade.
About BB&T Corporation
At Sept. 30, Winston-Salem, N.C.-based BB&T Corporation had $165.3 billion in assets and operated more than 1,800 financial centers in 13 states and Washington, D.C. More information about the company is available at BBT.com.
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