BB&T Benefits Overview Guide · PDF fileBENEFITS OVERVIEW GUIDE ... Compensation and Payroll ... Provide a comprehensive and market-competitive BENEFIT program

Welcome to BB&T

On behalf of the BB&T Human Systems Division, welcome to BB&T. This guide was designed

to provide you with a preview of the BB&T Vacation and Holiday policies, the Sick Pay Policy,

Flexible Benefits Plan, Retirement Plans and training opportunities. Our goal is to make your

transition to BB&T as successful as possible.

A Strong Heritage

BB&T began as a small eastern North Carolina bank in 1872, and no bank in North Carolina has

had its doors open longer. Based in Winston-Salem, N.C., the company operates over 2,200

financial centers in 15 states and Washington, D.C., and offers a full range of consumer and

commercial banking, securities brokerage, asset management, mortgage and insurance products

and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client

satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich

Associates and others.

Mission Statement

Our mission is to make the world a better place to live by:

Helping our CLIENTS achieve economic success and financial security;

Creating a place where our ASSOCIATES can learn, grow and be fulfilled in their work;

Making the COMMUNITIES in which we work better places to be; and thereby:

Optimizing the long-term return to our SHAREHOLDERS , while providing a safe and

sound investment.

BENEFITS OVERVIEW GUIDE

The BB&T Philosophy .................................................................................................................... 2

Compensation and Payroll ............................................................................................................... 3

Career Development and Associate Support ................................................................................... 3

Work/Life Benefits .......................................................................................................................... 5

Flexible Benefits .............................................................................................................................. 6

Wellness Programs .......................................................................................................................... 9

Retirement Programs ..................................................................................................................... 10

INSIDE

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The BB&T Philosophy

At BB&T, it's about Excellence. It's about the best people creating and building a world-class

organization in an ever-changing world. The foundation and motivation behind this commitment

to Excellence is found in "Our Philosophy."

At BB&T, we are convinced our success is directly linked to our values and mission. We have

accomplished important things because we value an individual, personal relationship with our

clients and our associates. This means interacting with trust, integrity, responsibility, creativity

and a commitment to Excellence. Hard work, supported by our values, will continue to produce

the results we have enjoyed for 145 years: success for our clients, rewarding careers for our

associates, growth in our communities and economic and long-term returns for our shareholders.

Some of the concepts that describe BB&T:

Client-driven; our clients are our partners.

Quality-oriented; quality must be built into the process.

Efficient; "Waste not, want not."

Growing both our business and our people; grow or die.

Continuous improvement; fundamental commitment to innovation.

Objective decision making; fact-based and rational.

Management's Commitment to Our Associates

COMPENSATE associates fairly in relation to internal equity and market-

comparable pay practices (performance-based compensation).

Provide a comprehensive and market-competitive BENEFIT program.

Create a place where associates can LEARN and GROW .

TRAIN associates so they are competent to do the work asked of them.

EVALUATE and RECO GNIZE performance objectively, fairly and consistently

based on the individual's contribution to the accomplishment of our mission and

adherence to our values.

Treat each associate as an INDIVIDUAL with dignity and respect.

BB&T's Service Culture / the Perfect Client Experience

B&T prides itself in having offered high quality client service. We recognize that our clients and

their relationships with us have created the very foundation of our success. Our continued success

is dependent upon "re-earning" each client's loyalty on a daily basis.

Accordingly, we must commit to one of our key corporate objectives, "Execute on the Perfect

Client Experience," with every client interaction. Creating client service that is different and more

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valuable begins with you. Your values, attitude, passion, loyalty and commitment to helping our

clients achieve economic success and financial security is the difference!

Compensation and Payroll

Your Total Compensation

At BB&T, your Total Compensation extends well beyond your cash compensation. BB&T

provides paid vacation, approximately 75% of your Medical Program premiums, basic Term Life

Insurance and Disability Insurance. Additionally, BB&T provides Sick Pay, the BB&T

Corporation 401(k) Savings Plan, the BB&T Corporation Pension Plan, opportunities for

professional growth and development, banking benefits and much more.

Payroll Guidelines

Associates are paid semi-monthly, generally on the fifteenth and last business day of the month.

If the pay date falls on a weekend, associates are paid on the Friday before the weekend. Regular

pay for salaried associates is paid through the current pay date. Hourly associates are paid based

on the weeks included in the pay period. Associates receive their pay by deposit to an account

they have designated.

Career Development and Associate Support

BB&T University

BB&T has a strong commitment to the education and development of its associates, and that

commitment is executed daily through the BB&T University. The BB&T University curriculum

encompasses a broad range of educational opportunities offered to BB&T associates, as well as

the Leadership Development Program and the BB&T Banking School. The curriculum includes

over 150 classes, workshops, labs and e-learning sessions. Learning opportunities offered to

associates include:

• Business Loan Decision Strategy • BB Platform Fundamentals

• Consultative UCA Cash Flow Analysis • BB Platform Advanced Operations

• Prospecting by Phone for Business Clients • Advanced Teleconsulting

• Managing Change • Teller Advanced Concepts

• Managing Interpersonal Relationships • Teller Fundamentals

• Presentation and Communication Skills • BB Platform Advanced Sales

• Leading Diversity @ BB&T • Phone24 New Hire

• Foundations of Leadership at BB&T • Branch Information New Hire

• Quality Philosophy • Lending for BBs

• Creativity and Innovation • Private New Hire

• Retail Academy • BB&T Wealth Lending

• Business Academy • Sales Leadership Excellence for BB&T Wealth

• Mortgage Lending New Hire Fundamentals

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At BB&T, we believe that knowledge, properly applied, is a key to our continued success in the

financial services industry. Today, associates are expected to perform skills that apply directly to

their job functions, practice skills that enhance their performance and keep up with constantly

changing technology. The BB&T University is committed to helping associates achieve success

in their jobs. In fact, training associates so they are competent to perform the work asked of them

is one of our key obligations to our associates at BB&T.

Education Assistance

BB&T encourages associates to grow and develop, personally and professionally, through the

systematic and planned use of formal educational activities, both within and outside the

Company. Outside educational activities can take at least two different general forms, both of

which may be supported by BB&T. These two forms are: (1) formal degree programs

(undergraduate and graduate) and (2) company-required or continuing education.

It is the policy of the Company to provide high-performance and high-potential associates

assistance in pursuing degree programs that (a) give the associate better knowledge, skills and

abilities to perform his or her current job, or (b) prepare the associate for planned growth to

assume a position of higher responsibility. Management approval must be received prior to taking

a course to be considered for reimbursement.

Banking Benefits

BB&T associates are eligible to receive benefits from all banking areas, including personal

checking, savings, mortgage, lending, insurance and investments.

Retail Deposits

As an associate, you are eligible to receive an interest bearing Elite Gold checking account which

comes with a free Bright Banking and Regular Savings or Money Rate Savings account with no

maintenance fees and no minimum balance requirements. Associates with children who are

students also receive a free Student Account.

Related Deposit Services

Free personalized wallet-style, duplicate or top-stub checks in any design;

Four no-fee non-BB&T ATM transactions per statement cycle;

Free Mobile Banking and Mobile Check Deposit;

$40 annual discount on any size Safe Deposit Box (subject to availability);

Bonus Rates on select CDs and IRAs;

No-penalty CD withdrawals;

Discount on The Plus Package and Identity Protection;

Preferential Rate on Constant Credit;

No-fee official checks and money orders;

No-fee Automatic Transfers; and

Additional benefits and Wealth Advisory services for more complex financial needs.

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Work/Life Benefits

Eligibility

Any associate regularly scheduled to work at least 20 hours per week is eligible to participate in

the benefit plans at BB&T. A benefits-eligible associate may become a participant in the plans on

his or her first day of employment. If you meet these guidelines, you will be eligible to participate

in the plans.

Holidays

BB&T generally follows the schedule of 10 annual holidays set by the Federal Reserve although

certain subsidiaries follow a separate holiday schedule. In the event that a paid holiday falls on a

Saturday, BB&T will grant a floating holiday to be taken in the same calendar year in which the

holiday falls and at a time approved by the associate's manager. If a holiday falls on a Sunday,

BB&T will recognize the holiday on the following Monday.

Vacation

The following table outlines the amount of vacation for regular associates who are scheduled to

work 40 hours per week and have completed the indicated years of service on or before June 30

in any given year. As indicated, vacation days are based on years of service and official title.

REGULAR ASSOCIATES – (40 HOURS PER WEEK)

Years of Service Less than 5 5 or Banking

Officer/AVP 6 7 8 9

10-24/VP/SVP or

above 25+

Number of Days 10 15 16 17 18 19 20 25

Associates who are scheduled for at least 20 hours, but less than 40 hours, per week receive

prorated vacation days based on scheduled hours. Associates who are working on a temporary

basis or who are scheduled to work less than 20 hours per week are not eligible for vacation. At

BB&T, all associates scheduled to work at least 20 hours per week are required to take at least

five consecutive workdays of vacation per year.

Sick Pay Policy

The Sick Pay Policy is designed to provide salary continuation to eligible associates who are

absent from work. This policy is intended to protect associates from loss of income due to short-

term illness or an accident.

This policy provides up to 10 Sick Days per calendar year that are intended to be used for

personal illness/injury or to care for a family member.

Additionally, if you go on a Leave of Absence, a period in which you are absent from work for

more than 10 consecutive business days, you may be eligible for up to 30 Sick Leave of Absence

Days.

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Employee Assistance Program

BB&T offers Employee Assistance Program (EAP) services to help associates meet a variety of

life's challenges. The EAP is administered through MHN and available to all regular associates

without having to enroll. You and anyone who resides with you as a member of your household

can use the program. Your dependents can utilize the EAP even if they are not covered under the

Medical Program.

Services include:

Clinical counseling; Legal services;

Daily living services; Online member services;

Childcare assistance; Identity theft recovery services; and

Eldercare assistance; Work and life services.

Business Travel Accident Insurance

BB&T provides insurance for associates that may pay a benefit if they are injured in an accident

while traveling on company business. The policy may pay up to $250,000 ($500,000 for Senior

Vice Presidents and above) for injuries received.

Voluntary Benefits

BB&T offers all benefits-eligible associates the opportunity to purchase Critical Illness Coverage

and/or Group Accident Insurance. You will be provided an opportunity to enroll in the Critical

Illness Coverage and/or Group Accident Insurance during your benefits enrollment.

Flexible Benefits

BB&T has developed a benefits plan that allows associates to design a personal benefits package

to fit their needs. The concept that drives the BB&T Flexible Benefits Plan is Partnership. We

work hard to provide associates with a variety of benefits from which they can choose. In turn,

associates assume the responsibility for their choices. All programs under the Flexible Benefits

Plan are separate and independent of each other.

The Flexible Benefits Plan offers the following programs:

Health Care (Medical, Dental and Vision);

Flexible Spending Accounts [Health Care, Limited Use Health Care, Dependent Care and

Transportation (Mass Transit and Parking)];

Disability Insurance;

Term Life Insurance;

Dependent Life Insurance; and

Accidental Death and Dismemberment Insurance.

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Eligibility and Coverage Levels

Any regular associate (not a temporary or contract associate) scheduled to work at least 20 hours

per week is eligible to participate in the BB&T Flexible Benefits Plan on the first day of

employment. Under the BB&T Flexible Benefits Plan, the Medical, Dental and Vision Programs

offer the following coverage levels:

Employee Only;

Employee and Spouse;

Employee and Child(ren); and

Family.

Associates may cover children through the end of the month in which they reach age 26,

providing the children meet all other eligibility requirements.

BB&T’s Contributions and Pre-Tax Savings

BB&T contributes a major portion toward the cost of associate Medical Insurance, Term Life

Insurance and Disability Insurance coverage. In addition to the Company contributions,

associates receive an added benefit by having premiums (except for Dependent Life and

Disability coverage) deducted before taxes are applied to their earnings.

BB&T Medical Program

Each BB&T associate has two medical coverage options, as well as the option to elect no

coverage. BB&T offers two Preferred Provider Organization (PPO) options — the Select Option

and the Consumer Option with a Health Savings Account. These options are managed by

BlueCross BlueShield of North Carolina and provide nationwide health care coverage. The

primary differences between the medical options include the annual deductible, the percentage of

reasonable and customary expenses paid after the deductible has been satisfied, prescription drug

benefits, the maximum amount paid out-of-pocket for the year and premiums. Both options

provide in-network and out-of-network coverage.

The Select Option offers a prescription drug benefit for co-payments through local pharmacies

and a mail order service. With the Consumer Option, the cost of prescription drugs is applied to

the deductible until the deductible has been met. Once the deductible has been satisfied, the

Consumer Option will pay 80% of the cost of prescription drugs.

BB&T Dental Program

The BB&T Dental Program provides coverage through Ameritas for routine care, basic and major

services and orthodontia for children up to age 19.

BB&T Vision Program

The BB&T Vision Program provides discounted coverage through VSP network doctors and

affiliate providers, as well as the flexibility to see out-of-network providers.

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Flexible Spending Accounts

BB&T offers five Flexible Spending Accounts (FSA), which are all separate and independent of

each other: the Health Care FSA, Limited Use Health Care FSA, Dependent Care FSA and

Transportation Spending Accounts (Mass Transit and Parking). These accounts allow participants

to set aside money on a pre-tax basis to be used to reimburse the costs of out-of-pocket health

care expenses, dependent care expenses, mass transit transportation expenses (transit pass and

commuter highway expenses) and parking expenses (for payment to parking vendor with whom

you have directly contracted). Using this benefit is a great way to receive a “discount” on

qualified expenses not paid by any of the other benefit plans. The amount of the discount is equal

to the associate’s income tax rate. Associates may elect to contribute up to $2,600 per year in the

Health Care FSA and Limited Use Health Care FSA, $5,000 per year in the Dependent Care FSA,

$255 per month in the Mass Transit TSA and $255 per month in the Parking TSA.

Term Life Insurance Program

Each benefits-eligible associate receives two times his or her Benefits Annual Rate1 in basic Term

Life Insurance coverage. BB&T pays for this basic coverage in full. Associates can choose an

additional one to six times coverage in supplemental Term Life Insurance.

1Benefits Annual Rate is used to calculate Term Life Insurance and Disability Insurance coverage amounts.

Benefits Annual Rate is defined as the associate’s September 30 base pay annualized, plus any incentives,

bonuses, overtime and commissions received from October 1 through September 30.

Dependent Life Insurance Program

Associates may elect coverage for their spouse and/or dependent children. The associate’s

dependent children are eligible from birth until the end of the month in which they reach age 26.

All dependent coverage is paid on an after-tax basis. The associate is the beneficiary for all

Dependent Life Insurance.

Associates may elect coverage for their spouse in $10,000 increments up to $200,000. In addition,

associates may select from coverage levels of $7,500, $10,000 or $15,000 for dependent children.

Disability Insurance Program

The Disability Insurance Program provides protection for associates who become disabled and

unable to work due to non-work related illness or disability. Associates have two disability

coverage options. Option 1 is the 50% Disability Option, which is provided to associates at no

cost. Option 2 is the 60% Disability Option, which requires the associate to contribute a small

percentage of the premium (based upon the associate’s Benefits Annual Rate). The benefit is not

subject to taxes or other withholdings since premium payments are made with after-tax dollars.

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Accidental Death and Dismemberment Program

Associates have the option of purchasing Accidental Death and Dismemberment Insurance,

which provides additional coverage. The death benefit is paid directly to the designated

beneficiary(ies) if the associate dies as the result of an accident. A percentage of the total benefit

amount is paid to the associate if he or she suffers certain dismembering injuries, such as the loss

of an arm, leg, hand, foot or sight.

Benefits Enrollment

Associates will have the opportunity to enroll in BB&T’s Flexible Benefits during their

designated enrollment period through Workday, BB&T’s human capital management system.

Benefits-eligible associates will have no lapse in coverage from the time their current coverage

ends and the BB&T coverage begins, provided they enroll during their enrollment period.

Associates have access to a number of benefits resources to help them make their elections,

including BB&T’s EXCELLENCE Associate Handbook (EAH), which provides a summary of

employment-related policies and benefits (flexible benefits, work/life benefits and retirement

benefits). Associates can also visit BBTBenefits.com for information on all of the benefits

described in this document.

Wellness Programs

At BB&T, we encourage you to take a proactive approach to achieving and maintaining better

health. This begins with a personal understanding of your current health status and continues as

you work toward goals and utilize resources available to you. We help promote a proactive

approach to health care through the following:

LifeForce Program

RivalHealth Program

Case Management Program

Gap In Care Program

These programs are in place solely to help you remain an active participant in your own health

care management; they will not reduce the benefits you receive under the BB&T Flexible

Benefits Plan. BB&T contracts with outside providers for the programs and therefore does not

have access to any of your confidential health information. The Case Management and Gap In

Care Programs works in conjunction with the BB&T Medical Program. The LifeForce Program

and RivalHealth Program are optional.

By participating in these programs and working toward better health, you can help lower the

amount you pay for health care services each year. These incentives (which vary depending on

the program) can include premium reductions, health assessments and/or counseling at no cost to

you and prizes.

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Retirement Programs

The BB&T Corporation 401(k) Savings Plan

One of the most valuable benefits BB&T offers its associates is the BB&T Corporation 401(k)

Savings Plan. The following outlines some of the Plan features:

Regular associates are eligible to participate in the Plan on their first day of employment.

BB&T will match your contributions (other than catch-up contributions) on deferrals up

to the deferral limit of $18,000 using a formula based on the company in which you

work:

o CRC Insurance Services, Inc.: Match of 50%;

o McGriff, Seibels and Williams, Inc.: Match of 100% on the first 4% deferred;

and

o All others: Match of 100% on the first 6% deferred.

Please Note: You must contribute to the BB&T 401(k) Savings Plan to receive the

employer match.

Contributions are made pre-tax or after-tax.

Associates are immediately 100% vested in BB&T's matching contributions.

Associates can invest up to 50% of their compensation (contributions are subject to legal

restrictions).

Earnings on pre-tax contributions are tax-deferred until an associate withdraws their

money.

Earnings on after-tax contributions are tax-free if taken at age 59 ½ or later from an

account held for five or more years.

The Company stock portion of the BB&T 401(k) Savings Plan is designated as an ESOP

(Employee Stock Ownership Plan).

A self-directed brokerage account is available to allow participants the opportunity to

invest in a wider range of investment choices.

The Plan offers a variety of investment funds.

Investment advice and professional account management through ProNvest (an

independent registered investment advisory firm).

The BB&T Corporation Pension Plan

The BB&T Corporation Pension Plan is a defined benefit plan funded entirely by the Company.

Associates who are age 21 or older become participants in the Pension Plan after completing 12

consecutive months of service in which they have performed at least 1,000 hours of service

(generally, associates scheduled for 20 or more hours each week).

Participants are 100% vested after five years of service.

Participants can access their benefit as early as age 55 with 10 years of qualifying service.

Average compensation is calculated by taking the average of the five highest consecutive

years' Total Compensation in the participant's last 10 years worked, taking IRS limits into

consideration.

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Certain affiliates of BB&T Corporation (BB&T Securities, LLC; CRC Insurance Services,

Inc.; McGriff, Seibels and Williams, Inc.; AmRisc, LLC; BB&T Insurance Services of

California; Precept Insurance Solutions, LLC; Crump Life Insurance Services, Inc.; Hann

Financial Services Corp.; Boston Service Company and Swett & Crawford Group) do

not participate in the Pension Plan.

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Notes:

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This information is intended to provide an overview of

the BB&T policies, benefit plans and training programs.

This guide should not be construed as a contract. The

Company reserves the right to make changes in context

or application as it deems appropriate, and these changes

may be implemented even if they have not been

communicated or reprinted.

The complete details of the plans are contained in the

plan documents and insurance contracts. If a discrepancy

occurs, the actual plan documents will prevail.

REV. 12/07/2016