# Truist Financial Corporation Pension Plan

Truist Financial Corporation Pension Plan is a Pension Fund based in Charlotte, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Charlotte, United States
- **Region:** North America
- **Address:** Charlotte, NC, United States
- **Founded:** 2019
- **Assets under management:** Undisclosed
- **Website:** benefits.truist.com

## Regulatory record

- **Reports private funds:** No

## About

The plan was formed in 2019 when BB&T Corporation and SunTrust Banks, Inc. completed their merger of equals, creating Truist Financial Corporation. The combined entity consolidated predecessor pension obligations into this single plan, which covers eligible employees who accrued benefits across one or both legacy institutions. William H. Rogers, Jr., who led the merger as CEO of SunTrust and continues as Truist's chairman and CEO, is both a plan sponsor representative and a participant. The portfolio is constructed around liability-driven investing principles typical of a large bank-sponsored pension. Public filings and annual reporting have historically shown an allocation dominated by U.S. Cash and cash equivalents round out the holdings. There is no public evidence of direct private equity, venture capital, or hedge fund allocations, which is consistent with a plan run primarily to defease accrued benefit obligations rather than generate excess returns. Post-merger integration work has been a multi-year undertaking. The plan sponsor, Truist, has publicly described the effort to combine systems and benefit-administration platforms spanning two legacy institutions, a process that extended into at least 2023. The plan is administered through the benefits.truist.com portal, where participants receive statements and elect distribution options. Separate from the plan, Truist maintains substantial philanthropic vehicles including the Truist Foundation and the Truist Charitable Fund, which focus on community development, affordable housing, and small-business support — but these are corporate entities, not plan assets. Structurally, this plan differs from many corporate peers because it remains a traditional final-average-pay defined-benefit plan, not a cash-balance or variable-annuity hybrid. That design choice, inherited from both predecessor banks' long histories, means the liability stream is relatively predictable but sensitive to long-term interest-rate shifts. The plan's conservative asset mix reflects an investment posture that prioritizes stability over growth — a deliberate structural feature of a regulated financial institution with a large, mature retiree base.

## Sectors

- null

## People

- William H. Rogers, Jr. — Chairman and CEO, Truist Financial Corporation

## Questions

### What happened to the old BB&T and SunTrust pension plans?

Both plans were merged into the Truist Financial Corporation Pension Plan following the 2019 merger of equals. Participants who accrued benefits under either legacy plan retained their accrued amounts, now administered and paid through the combined Truist plan. The plan uses traditional final-average-pay formulas based on years of credited service and compensation.

### How is the Truist pension plan funded?

Truist Financial Corporation makes annual contributions to the plan as determined by actuarial valuations and regulatory funding requirements. As the plan sponsor, Truist is responsible for ensuring the plan remains adequately funded to meet its benefit obligations. The plan's funded status is disclosed in Truist's annual SEC filings.

## Related profiles

- [Truist Financial Corporation](https://altss.com/profile/truist-financial-corporation)
- [Truist Foundation](https://altss.com/profile/truist-foundation)

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Last updated: 2026-08-11T02:43:31.692Z

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