Retirement plan
THE BANK OF AMERICA PENSION PLAN
BANK OF AMERICA CORPORATIONEIN 56-0906609Plan #001PY 2023
3400 PAWTUCKET AVE., RI1-530-01-15 - RIVERSIDE, RI 029155298800-556-6044
Other plans on this EIN
2 filingsProspect flagsHigh retiree %Wind-down / frozen
Filing contacts
From the Form 5500, federal recordPlan administrator entity
BANK OF AMERICA CORPORATION CORPORATE BENEFITS COMMITTEE
EIN 560906609
Summary metrics
Total assets (EOY)
$19189.2M
-3.9% from 2016
Total participants
181,533
+4.5% from 2016
Average account balance
$0
No prior year
Annual return
7.52%
-6.68 pp from 2016
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort191 peers
Snapshot2023
0
Participant deferral / active EE
$0
median $12
0
Employer contribution / active EE
$0
median $5,926
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
0
Admin fee / account holder
$0
39
Annual return
7.52%
median 8.27%
Overall peer rank
39of 100
39th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$19.04B
Average account balance
Total assets / participants with a balance (line 6g)
$113K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
117,135
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
Not enough data
0 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
Not enough data
0 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+4.38%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 10 of 39 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 04-2647786 | Recordkeeping | $11,855,243 |
BRIDGEWATER ASSOCIATES9+ years Service code 28 · EIN 27-1437501 | Investment Management | $5,292,245 |
PIMCO LLC9+ years Service code 28 · EIN 33-0629048 | Investment Management | $3,734,486 |
WESTERN ASSET MANAGEMENT COMPANY9+ years Service code 28 · EIN 95-2705767 | Investment Management | $3,638,536 |
CAMDEN ASSET MANAGEMENT, LP9+ years Service code 28 · EIN 95-4319164 | Investment Management | $2,965,469 |
WILLIS TOWERS WATSON8 years Service code 11 · EIN 53-0181291 | Actuarial | $2,240,320 |
T. ROWE PRICE ASSOCIATES, INC.9+ years Service code 28 · EIN 52-0556948 | Investment Management | $1,826,853 |
Service code 28 · EIN 47-2614791 | Investment Management | $1,519,686 |
Service code 28 · EIN 56-2475917 | Investment Management | $1,289,692 |
LSV ASSET MANAGEMENT COMPANY9+ years Service code 28 · EIN 23-2772200 | Investment Management | $1,258,617 |
Enrolled actuary
1 attachment
SB
NATHAN BRAGG
WILLIS TOWERS WATSON US LLC
Enrollment #2307999
1120 SOUTH TRYON STREET
SUITE 650
CHARLOTTE, NC 28203
(617) 504-9780
Reportable transactions (Schedule G)
2 rows
Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.
| Category | Counterparty | Relationship / Terms | Address | Amount |
|---|---|---|---|---|
| Part 3 Non-exempt transaction | BOFA SECURITIES, INC. | SERVICE PROVIDER RECEIPT OF IMPERMISSIBLE TRADE COMPENSATION ON 2/14/2023. | — | $5K |
| Part 3 Non-exempt transaction | BOFA SECURITIES, INC. | SERVICE PROVIER RECEIPT OF IMPERMISSIBLE TRADE COMPENSATION ON 9/5/2023. | — | $2K |
Top hat statement on fileNQDC
Filed March 10, 2005 (most recent of 3 filings on file)
This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.
Plan features & details
Pension benefit codes1A1C1I3H
Plan features
- 1ABenefits are primarily pay relatedBenefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
- 1CCash balance or similar planA cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
- 1IFrozen planAs of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
2 tripped
- InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
- InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
Expense breakdown
Schedule H Part II
Admin total
$69.8M
$1297 / participant
- Recordkeeping$12M17.0%
- Trustee / custodial$925K1.3%
- Investment mgmt$35M49.8%
- Legal$128K0.2%
- Actuarial$2M3.3%
- Salaries / allowances$121K0.2%
- Other / not subdivided$20M28.2%
% of EOY assets
0.364%
all-in expense ratio
Categories reported
6 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- MCCONNELL & JONES LLP
- Auditor EIN
- 760488832
- Audit fees
- $102,578
- Opinion code
- Unqualified