Feature News

RALEIGH, N.C., Feb. 18 /PRNewswire-FirstCall/ -- BB&T Institutional Services today said it has earned two No. 1 rankings among bank and mutual fund company 401(k) providers in a national survey.

401k Exchange compiles an annual "Provider Ratings and Market Share Report" on 200 401(k) providers. The most recent ratings are based on 2008 performance.

For companies, municipalities and organizations in the $1 million-$10 million (in revenues) range, BB&T was ranked No. 1 in the "investment options" and "participant education/ communication" categories. It was ranked in the top five in the "fees," "fund performance," "plan administration/recordkeeping" and "customer service" categories.

BB&T also received AAA ratings from 401k Exchange in the under-$1 million and $10 million-$100 million ranges.

"As these positive rankings indicate, BB&T Retirement Services offers plan sponsors a highly competitive 401(k) solution featuring a diverse selection of high performing mutual funds, exceptional customer service and quality recordkeeping and administration," said BB&T Institutional Services Manager Ray McCulloch.

With more than $10.5 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.

Lake Worth, Fla.-based 401k Exchange is a business development and market intelligence provider for the 401(k) and retirement industry serving the small- and mid-size corporate market.

With $152 billion in assets, BB&T Corporation (NYSE: BBT) is the nation's 11th largest financial holding company. Founded in 1872, it operates more than 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com.