Retiring from BB&T
As you prepare to retire, Benefits Administration wants to congratulate you on this exciting time in your life. The team also wants to answer any questions you have as you transition from active employment to retirement. A member of Benefits Administration will be responsible for processing any documents related to your retirement.
Please take a moment to review the following:
You will receive information from McGriff Insurance Services, our COBRA administrator, regarding continuation of your dental and/or vision coverage under the provisions of COBRA (if you carry this coverage at the time of your retirement). In addition, you will receive information regarding continuation of your medical coverage under COBRA.
Note: Communications from McGriff Insurance Services regarding COBRA offerings will be sent to you approximately 2 to 3 weeks after your retirement. Any coverage elected will be retroactively effective the day following your termination of active associate benefits.
BB&T Corporation Pension Plan
You should receive your personalized pension benefit calculation within 30 days of your retirement date.
BB&T Corporation 401(k) Savings Plan
As always, you may access your BB&T Corporation 401(k) Savings Plan account information and initiate transactions by calling the automated Benefits Phone at 800-228-8076 or by logging on to BBT.com/PlanTrac(opens in a new tab). You have the option to leave your account in the Plan as long as your balance is at least $5,000. If you wish to withdraw your account balance or roll it over to another plan or financial institution, you may complete a Final Distribution Form (PDF). The completed form needs to be returned to Benefits Administration for processing. Once Benefits Administration receives the forms, distribution payments will be mailed within 5 to 7 days.
You are eligible to participate in LifeForce as a retiree. You will be responsible for the cost of the LifeForce appointment and the cost associated with the lab panel. Contact Peak Health at 252-237-5090 to schedule an appointment as a retiree. Your home address, phone number and email address will be needed for appointment reminders. If you do not contact Peak Health at the time of your retirement, you will be removed from the program.
Retiree term life insurance
As a retiree, BB&T provides you with optional Term Life Insurance coverage. See the BB&T Retirement Guide (PDF) to learn more.
Retiree Term Life Insurance Program
As a retiree, you have the option to continue either one or two times your ending benefits base salary for Term Life Insurance. For example, if your benefits base salary at the time of your retirement is $30,000, you could elect coverage amounts of $30,000 or $60,000. Premiums are based on your age, benefits base salary and the level of coverage you choose. For a detailed description of the program, see the Retiree Life Insurance Plan Description on the Summary Plan Descriptions page.
No personal or confidential associate information is contained within BBTBenefits.com.
Information contained within BBTBenefits.com applies to eligible associates residing in the United States, unless otherwise specified.
Not all subsidiaries and affiliates of BB&T Corporation participate in the benefit programs and policies presented within BBTBenefits.com.
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