401(k) Retirement Plan · Active
THE BANK OF AMERICA 401(K) PLAN
BANK OF AMERICA CORPORATION·EIN 560906609
401 N. TRYON STREET, NC1-021-08-03 · CHARLOTTE, NC 28255
Plan year
2024
Plan #
003
Industry
Filing ACK
202507211305…
Prospect flagsNo flags tripped
Summary metrics
Total assets (EOY)
$62902.4M
$253,533 per participant
Active participants
250,040
70.7% participation
Participation rate
70.7%
65th percentile
Annual return
17.14%
83rd percentile
Admin expense
0.00%
% of assets
Flag timeline
Issue history by plan year
Tripped years: 0Watched years: 0
2021
Clean
2022
Clean
2023
Clean
2024
Clean
CleanWatchedTripped (shade = count)
Section 02
How this plan compares
Peer groupIndustry55, Assets>$1B, Participants>=10,000, Snapshot2024
- Participant contribution$9,77243rd pctile
- Employer contribution$7,65170th pctile
- Participation rate70.7%65th pctile
- Assets per participant$253,53374th pctile
- Expense efficiency$087th pctile
- Annual return17.14%83rd pctile
Overall peer rank
- Bottom quartile
- Mid
- Top quartile
Averaged across 6 normalized metrics within the selected peer group.
Fee trend
Fee trend vs peer
Less than 3 years of fee history available (0 on file)
Return trend
Section 03
10-year trajectory2021 - 2024
How plan year 2024 played out
Asset flow
+$8.05B
Start of year to end of year
Section 04
Asset composition
End-of-year allocation
Cash drag vs peers
Plan cash
0.3%
Peer average
0.4%
In line with peersPeer marker at 0.4%
Section 04
Service providers
Providers data not reported
Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.
Section 05Plan features & details
ShowHide features, contributions, expenses, fidelity bond & compliancePension benefit codes2E2F2G2J2K2O2S2T3H3J
Section 05
Plan features & details
ShowHide features, contributions, expenses, fidelity bond & compliance
Pension benefit codes2E2F2G2J2K2O2S2T3H3J
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2OESOP other than a leveraged ESOPEmployee stock ownership plan that is not leveraged.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
- 3JU.S.-based Puerto Rico dual-qualified planU.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.
Contributions
Employer total$1,287,193,919
Participant total$1,643,940,675
Employer / P$7,651
Participant / P$9,772
Expenses
Admin expenses$0
Per participant$0.00
% of assets0.00%
Fidelity bond
Coverage amount$450,000,000
% of assets0.72%Below ERISA §412 10% minimum
Section 06
Other plans under this sponsor
Same EIN ·560906609