Bank of America Corporation 401k Rating by BrightScope

Overview

Plan Rating

BrightScope Rating

80

Lowest Rating in Peer Group

Average Rating in Peer Group

Highest Rating in Peer Group

0102030405060708090100

Lowest in Peer Group (33)

Average in Peer Group (76)

Highest in Peer Group (92)

Plan Description

The Bank of America 401k Plan is a defined contribution plan with a profit-sharing component, 401k feature, and ESOP component. This plan has a BrightScope Rating of 80. This plan is in the top 15% of plans for Company Generosity and Total Plan Cost. The Bank of America 401k Plan currently has over 279,200 active participants and over $19.4B in plan assets.

Did you know?

For the average 401k participant, the 12 point difference between this plan's BrightScope Rating (80) and the top rated plan (92) could equate to:

10

Additional years of work

35,689

Lost Savings

*The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer. How is this calculated?

Plan Details

Location

Charlotte , NC

Industry

Offices of Bank Holding Companies
Administrator

Lynn Cooper
Net Plan Assets

$19,400,000,000
Total Participants

280,000
Avg Account Balance

$74,000

Plan Components

Component Ratings

All Plans

Same Size ($500M+)

Design

Total Plan Cost:

Lowest Fees

Company Generosity:

Great

Performance

Participation Rate:

Average

Salary Deferrals:

Above Average

Account Balance:

Above Average

Design

Total Plan Cost:

Low Fees

Company Generosity:

Above Average

Performance

Participation Rate:

Average

Salary Deferrals:

Average

Account Balance:

Below Avg.

Peer Group Plans

Company	Rating
Morgan Stanley Domestic Holdings	84.3
Oracle	82.7
Leidos	81.4
Citigroup	80.8
Wells Fargo & Company	80.0
UnitedHealth Group	72.0

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Investments

Investment Menu Stats

# of Investment Options

62

(Plan Average: 20)

Largest Funds in this Plan	Allocation of Assets	1 YR Rank in Category
Bank of America Corporation Common Stock	13%	N/A
Vanguard Institutional Index	12%	5%
BlackRock, Inc. Blackrock Lifepath Index	11%	N/A
Fund hidden		100%
Fund hidden		100%
Fund hidden		100%
Fund hidden		100%

View all funds in this plan

for Advisors|for Asset Managers

Providers

Plan Service Providers

SERVICE	PROVIDER
Recordkeeper	Fidelity
Recordkeeper	Bank of America Merrill Lynch
Corporate Trustee	Bank of America Merrill Lynch
Administration	Bank of America Merrill Lynch
Investment Adviser	Callan Associates
Legal Counsel	Kirkpatrick & Lockhart
Legal Counsel	McDermott Will & Emery
Auditor	Morris, Davis & Chan

Articles and Questions

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