Retirement plan

THE BANK OF AMERICA 401(K) PLAN

Name: BANK OF AMERICA CORPORATION - THE BANK OF AMERICA 401(K) PLAN (2015) Form 5500
Creator: BANK OF AMERICA CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BANK OF AMERICA 401(K) PLAN, BANK OF AMERICA CORPORATION

BANK OF AMERICA CORPORATIONEIN 56-0906609Plan #003PY 2015

100 N. TRYON STREET, NC1-007-08-29 - CHARLOTTE, NC 28255800-556-6044

Other plans on this EIN

3 filings

#001Retirement-$19.45B assets #011Retirement-$9.06B assets #007Retirement-$1.15B assets

Prospect flagsNo flags tripped

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.

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Total assets (EOY)

$19761.1M

No prior year

Total participants

279,294

No prior year

Average account balance

$75,100

No prior year

Annual return

-0.29%

No prior year

Benchmarks

See 908 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants>=10,000

Cohort908 peers

Snapshot2015

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$62.90B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$254K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

248,103

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

98.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.93B

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+17.14%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 8 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL1+ years Filed as: FIDELITY INVESTMENTS INST. OPS. CO. Service code 15 · EIN 04-2647786	Recordkeeping	$8,082,082
MERRILL LYNCH PIERCE FENNER & SMITH1+ years Service code 15 · EIN 13-5674085	Recordkeeping	$834,052
MORRIS DAVIS CHAN & TAN LLP1+ years Service code 10 · EIN 94-2214860	Accounting	$253,800
THE BANK OF NEW YORK MELLON1+ years Filed as: BANK OF AMERICA RETIREMENT SERVICES Service code 14 · EIN 56-0906609	Plan Administrator	$232,316
THE BANK OF NEW YORK MELLON1+ years Filed as: BANK OF AMERICA PERSONNEL CENTER Service code 14 · EIN 56-0906609	Plan Administrator	$84,044
CALLAN ASSOCIATES1+ years Service code 27 · EIN 94-2192581	Advisory (Plan)	$50,250
K&L GATES1+ years Filed as: K & L GATES, LLP Service code 29 · EIN 25-0921018	Legal	$34,014
MCDERMOTT WILL & EMERY LLP1+ years Service code 29 · EIN 36-1453176	Legal	$17,258

Plan features & details

Pension benefit codes2E2F2G2J2K2O2T3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants 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.
2J
Code section 401(k) feature
Cash 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.
2K
Code section 401(m) arrangement
Employee 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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$9.6M

$59 / participant

Investment mgmt$50K0.5%
Contract admin$9M92.9%
Other / not subdivided$626K6.5%

% of EOY assets

0.049%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$75,100

$69,651+7.8%

$105,218-28.6%

$69,651+7.8%

Participation rate

90.0%

66.6%+23.5pp

77.2%+12.8pp

66.6%+23.5pp

Annual return

-0.29%

53.77%-54.1pp

5.33%-5.6pp

53.77%-54.1pp

Employer contribution / active EE

$4,779

$2,241+113.3%

$3,255+46.8%

$2,241+113.3%

Participant deferral / active EE

$5,583

$3,635+53.6%

$4,867+14.7%

$3,635+53.6%

Admin fee / account holder

$36

$63-42.3%

$6,992-99.5%

$63-42.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL1+ years

Filed as: FIDELITY INVESTMENTS INST. OPS. CO.

Service code 15 · EIN 04-2647786

Recordkeeping

$8,082,082

MERRILL LYNCH PIERCE FENNER & SMITH1+ years

Service code 15 · EIN 13-5674085

Recordkeeping

$834,052

MORRIS DAVIS CHAN & TAN LLP1+ years

Service code 10 · EIN 94-2214860

Accounting

$253,800

THE BANK OF NEW YORK MELLON1+ years

Filed as: BANK OF AMERICA RETIREMENT SERVICES

Service code 14 · EIN 56-0906609

Plan Administrator

$232,316

THE BANK OF NEW YORK MELLON1+ years

Filed as: BANK OF AMERICA PERSONNEL CENTER

Service code 14 · EIN 56-0906609

Plan Administrator

$84,044

CALLAN ASSOCIATES1+ years

Service code 27 · EIN 94-2192581

Advisory (Plan)

$50,250

K&L GATES1+ years

Filed as: K & L GATES, LLP

Service code 29 · EIN 25-0921018

Legal

$34,014

MCDERMOTT WILL & EMERY LLP1+ years

Service code 29 · EIN 36-1453176

Legal

$17,258

THE BANK OF AMERICA 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BANK OF AMERICA 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion