BB&T 2014 Annual Report Download - page 128
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Table of Contents
U.S. equity securities include 3.0 million and 3.7 million shares of BB&T common stock valued at $117 million and $138 million at December 31, 2014 and
2013, respectively. International equity securities include a common/commingled fund that consists of assets from several accounts, pooled together, to
reduce management and administration costs. Total plan assets exclude accrued income of $23 million and $26 million at December 31, 2014 and 2013,
respectively.
The following table presents the activity for Level 3 plan assets, all of which are in alternative investments:
Balance at beginning of year $ 101 $ 98 $ 99
Actual return on plan assets 11 11 7
Purchases, sales and settlements 12 (8) (8)
Balance at end of year $ 124 $ 101 $ 98
Defined Contribution Plans
BB&T offers a 401(k) Savings Plan and other defined contribution plans that permit employees to contribute from 1% to 50% of their cash compensation. For
full-time employees who are 21 years of age or older with one year or more of service, BB&T makes matching contributions of up to 6% of the employee's
compensation. BB&T's contribution to the 401(k) Savings Plan and nonqualified defined contribution plans totaled $103 million, $102 million and $97
million for the years ended December 31, 2014, 2013 and 2012, respectively. BB&T also offers defined contribution plans to certain employees of
subsidiaries who do not participate in the 401(k) Savings Plan.
Other Benefits
There are various other employment contracts, deferred compensation arrangements and covenants not to compete with selected members of management and
certain retirees. These plans and their obligations are not material to the financial statements.
127
Source: BB&T CORP, 10-K, February 25, 2015 Powered by Morningstar® Document Research℠
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