2019
Recordkeeping Survey

Five hot-button issues plan sponsors need to cover in provider searches.

Introduction

As a complement to our Defined Contribution Survey—which measures how satisfied DC clients are with their providers—our annual Recordkeeping Survey gives employers the chance to see exactly which products and services each provider offers, as well as listing information on total assets and overall client demographics. This survey, as opposed to the DC survey, is comprised of data collected from the providers themselves.

BB&T Retirement and Institutional Services

www.bbt.com/retirementsolutions
Assets ($MM) by Plan Type
Ranked #35$11,537
401(k)$10,207
403(b)$193
457 $109
NQDC$535
All Other$493
Participants by Plan Size
Ranked #40213,596
<$5MM45,410
$5MM – $25MM73,463
>$25MM – $100MM33,442
>$100MM – $500MM19,519
>$500MM41,762
Plans by Channel
Ranked #391,390
Direct sold
Intermediary sold
Not reported
Not reported
Service Offerings
New client restrictionsNone
Multiple service modelsYes
Offers corporate trustee servicesYes - direct offering
# of internal ERISA counsel4
Will act as §3(16) fiduciaryNo
Participant Services
Call center hoursWeekdays: 8 a.m. - 8 p.m. ET
Online chat supportNo
Mobile appYes
Managed account optionsMorningstar/Ibbotson; ProNvest
Retirement Income
Displays retirement income estimate on statementsYes
Offers in-plan guaranteed retirement income productsNo
Offers out-of-plan annuity bidding serviceYes
Recordkeeping PlatformFIS Omni