Retirement plan
THE BANK OF AMERICA TRANSFERRED SAVINGS ACCOUNT PLAN
BANK OF AMERICA CORPORATIONEIN 56-0906609Plan #007PY 2017
3400 PAWTUCKET AVE., RI1-530-01-15 - RIVERSIDE, RI 029155298800-556-6044
Other plans on this EIN
3 filingsProspect flagsWind-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)
$1239.7M
+0.5% from 2016
Total participants
13,843
+9.2% from 2016
Average account balance
$92,853
-8.3% from 2016
Annual return
16.78%
-9.91 pp from 2016
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined contribution
Participants5,000-9,999
Cohort1,075 peers
Snapshot2017
0
Participant deferral / active EE
$0
median $3,253
0
Employer contribution / active EE
$0
median $1,782
59
Participation rate
93.2%
median 89.1%
72
Avg account balance
$92,853
median $54,463
22
Admin fee / account holder
$88
median $50
39
Annual return
16.78%
median 17.75%
Overall peer rank
48of 100
48th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$1.12B
Average account balance
Total assets / participants with a balance (line 6g)
$140K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
8,003
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
87.0%
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
+16.86%
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 6 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 04-2647786 | Recordkeeping | $993,351 |
Service code 14 · EIN 56-0906609 | Plan Administrator | $94,274 |
CALLAN ASSOCIATES3+ years Service code 27 · EIN 94-2192581 | Advisory (Plan) | $35,274 |
MORRIS DAVIS CHAN & TAN LLP3+ years Service code 10 · EIN 94-2214860 | Accounting | $32,400 |
CLASSIC GRAPHICS, LLC1 year Service code 36 · EIN 56-1418668 | Direct payment from the plan; Copying... | $11,108 |
BANK OF AMERICA PERSONNEL CENTER3+ years Service code 14 · EIN 56-0906609 | Plan Administrator | $10,269 |
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 codes2E2F2G2K2O2T3H
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.
- 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.
- 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)).
Opportunity flags
1 tripped
- 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
$1.2M
$162 / participant
- Investment mgmt$35K3.0%
- Contract admin$993K84.1%
- Other / not subdivided$152K12.9%
% of EOY assets
0.095%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- MORRIS DAVIS CHAN & TAN LLP
- Auditor EIN
- 942214860
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified