Department of Labor filing
Spot something wrong?Bank of America 401(k) plan
THE BANK OF AMERICA 401(K) PLAN · For the plan year ended Dec 31, 2024
Legal plan sponsor: BANK OF AMERICA CORPORATION
Latest public filing 2024 · received Jul 21, 2025Current benefit source Bank of America 401(k) Plan — 2025 Form 11-K · dated Dec 31, 2025
Plan summary
Start with the match, vesting, and fees
Strong
This looks strong based on public filing history. We have 1 of 7 key current terms documented. Keep checking the source links because plan rules can change.
Why: The employer contribution is documented. Vesting is not confirmed yet. The latest filing also shows more employer money than most similar plans.
87Plan health
from public filings
from public filings
1/7Limited current-term coverage
documented
documented
See what drives the plan health score
Published only when at least four measures and half of the model weight are available. Missing information is excluded rather than scored as zero.
After 12 months of vesting service, Bank of America matches eligible contributions up to 5% of plan-eligible compensation and provides an annual 2% company contribution, increasing to 3% after 10 years of vesting service.
Check the source ↓Based on the published formula. Eligibility and annual limits can change the amount.
Vesting decides how much employer money you keep if you leave before staying long enough.
The key document is the participant fee disclosure, especially fund expense ratios and account charges.
Look for low-cost index funds, target-date funds, stable-value or bond options, and any brokerage window.
After 12 months of vesting service, Bank of America matches eligible contributions up to 5% of plan-eligible compensation and provides an annual 2% company contribution, increasing to 3% after 10 years of vesting service
Automatic enrollment and auto-increase features usually help more employees save consistently.
Roth availability matters if you want after-tax contributions inside the workplace plan.
Up 10.6% over the filing history shown.
Participation down 3.3% · assets up 33.5% · loans 1.3% of assets
How this is calculated →See score distributions →Current terms to confirm: vesting, employee fees, investment choices, automatic enrollment, Roth availability
These details are often kept in employee-only plan documents. We show them when there is a dated source clear enough to trust.
Before you enroll: confirm the match, vesting schedule, waiting period, and fees in the current plan documents. The filing history shows how the plan itself has changed.
Keep in mind: public filings do not show your personal investment returns. Missing information does not count against the plan. The documents supporting the current terms are linked below.
Need the raw filing detail?
The key takeaways are above. Open the full record when you want every number and source note.
Filing comparison · 2024—There is not enough comparable filing data to calculate this yet.
How this filing compares
Reported employer contributions87th percentileTypical peer $3,577 · based on 107 comparable plans
Lower reported administrative expenseNot enough dataTypical peer $73 · based on 101 comparable plans
This comparison uses historical filing figures. It does not compare current match formulas, vesting, investments, or employee fees.
Peer-group method: industry size. Limitations: administrative_cost_measure_unavailable_or_zero
The short version
What employees should know
For the year ended Dec 31, 2024, BANK OF AMERICA CORPORATION reported $1,287,193,919 in employer contributions across this plan, or $7,651 per active participant. This is the best company-wide filing average available—not a promise of what any one employee receives.
Down 3.3% across the filing years shown. The filing does not report every employee who was eligible.
Change in employer contributions per active participant.
Change in reported administrative cost per participant. Fund expenses may be separate.
A fair peer score is not available yet.
Money and scale
Contributions, assets, and expenses
These are plan-wide totals. They are not individual account balances.
- Employer contributions
- $1,287,193,919 $7,651 per active participant
- Participant contributions
- $1,643,940,675
- Other contributions
- $121,757,347 Amounts not classified as employer or participant contributions
- Employer share of contributions
- 43.9%
- Active participants
- 168,229 Very large plan
- Total participants
- 250,040 254,477 at the beginning of the year
- Ending assets
- $62,902,405,616 $251,569 per participant
- Net-asset change
- Up 33.4% Not the same as investment performance
- Beginning net assets
- $54,839,596,555
- Ending net assets
- $62,887,854,391
- Beginning liabilities
- $9,249,637
- Ending liabilities
- $14,551,225
- Total income
- $12,326,060,315
- Total expenses
- $4,277,802,479
- Administrative expenses
- $0 $0 per active participant
- Participant loans
- $799,026,516 1.3% of plan assets
Three-year filing history
How the reported figures changed
Each chart uses the selected public filing for that year. Missing values remain blank rather than becoming zero.
2022
$6,920
2023
$7,418
2024
$7,651
2022
$0
2023
$0
2024
$0
2022
173,899
2023
168,963
2024
168,229
2022
$47,134,026,012
2023
$54,848,846,192
2024
$62,902,405,616
2022
1.4%
2023
1.3%
2024
1.3%
| Plan year | Employer money per active participant | Active participants | Plan assets |
|---|---|---|---|
| 2024 | $7,651 | 168,229 | 62.9B |
| 2023 | $7,418 | 168,963 | 54.8B |
| 2022 | $6,920 | 173,899 | 47.1B |
Changes in plan assets are not the same as investment performance.
Plan health
Loans, late deposits, and other filing disclosures
- Participant loans as a share of plan assets
- 1.3%
- Independent accountant’s opinion
- Unqualified opinion Code 1
- Late participant contributions reported
- Not reportedA “yes” needs context and is not, by itself, proof of wrongdoing.
- Loan defaults reported
- 0
- Lease defaults reported
- 0Only a small number of filings report these events.
- Nonexempt transactions reported
- 0
- Public plan identifier
- 560906609-003
Insurance and supporting schedules
Additional arrangements reported
These disclosures add context. They should not be read as a score or a judgment on their own.
- Pooled investment entities
- 36$48,907,978,855 reported at year end
Reported plan details
Identity and filing status
- Plan type
- Retirement plan
- Employer arrangement
- Single-employer plan
- Plan effective date
- Jan 1, 1983
- Industry
- Management of companies
- Amended filing
- No
- Final filing for this plan
- No
- Short plan year
- No
- 401(k) feature reported
- Yes
Show DOL characteristic codes
2E2F2G2J2K2O2S2T3H3J
Companies paid by the plans
Service providers named in the latest filings
Amounts are combined when the same provider and role appear in more than one plan. Form 5500 filings do not standardize every provider’s job, so treat the role labels as tentative; the provider name and compensation come directly from the filing.
| Provider | Possible role | How certain? | Plan year | Direct compensation | Indirect compensation |
|---|---|---|---|---|---|
| BLACKROCK INST TRUST COMPANY, N.A. | other | Tentative | 2024 | Not reported | unknown |
| CHARLES SCHWAB & CO., INC. | other | Tentative | 2024 | Not reported | unknown |
| DODGE & COX | other | Tentative | 2024 | Not reported | unknown |
| EARNEST PARTNERS, LLC | other | Tentative | 2024 | Not reported | unknown |
| FIDELITY INVESTMENTS INST. OPS. CO. | other | Tentative | 2024 | Not reported | unknown |
| FIDELITY MANAGEMENT & RESEARCH CO | other | Tentative | 2024 | Not reported | unknown |
| GREAT GRAY TRUST COMPANY | other | Tentative | 2024 | Not reported | unknown |
| MFS HERITAGE TRUST COMPANY | other | Tentative | 2024 | Not reported | unknown |
| NORTHERN TRUST CORPORATION | other | Tentative | 2024 | Not reported | unknown |
| PIMCO LLC | other | Tentative | 2024 | Not reported | unknown |
| SEI TRUST COMPANY | other | Tentative | 2024 | Not reported | unknown |
| STATE STREET BANK AND TRUST COMPANY | other | Tentative | 2024 | Not reported | unknown |
| STATE STREET GLOBAL ADVISORS TR CO | other | Tentative | 2024 | Not reported | unknown |
| T ROWE PRICE TRUST COMPANY | other | Tentative | 2024 | Not reported | unknown |
| THE VANGUARD GROUP, INC. | other | Tentative | 2024 | Not reported | unknown |
| VANGUARD FIDUCIARY TRUST COMPANY | other | Tentative | 2024 | Not reported | unknown |
Current plan terms
What the source documents say
Each item below comes from the dated source linked in this section. Anything the source does not establish is left blank.
- Employer contribution
- After 12 months of vesting service, Bank of America matches eligible contributions up to 5% of plan-eligible compensation and provides an annual 2% company contribution, increasing to 3% after 10 years of vesting service. An end-of-year true-up match is also provided.
Not covered by the source: 6 items
eligibility, vesting, investment information, automatic enrollment, roth contributions, participant fees. Check the latest summary plan description or enrollment materials for these details.
Source: Bank of America 401(k) Plan — 2025 Form 11-K ↗ · dated Dec 31, 2025
Filing evidence
Open the selected public records
We use the latest valid received filing for each year after resolving amendments and duplicate records. Open the source to check the original filing.
Quick answers
Bank of America 401(k) questions
What is Bank of America's 401(k) match?
The reviewed current source says: After 12 months of vesting service, Bank of America matches eligible contributions up to 5% of plan-eligible compensation and provides an annual 2% company contribution, increasing to 3% after 10 years of vesting service. An end-of-year true-up match is also provided.
How much employer money did Bank of America report adding?
For 2024, the selected filing reports $1,287,193,919 in employer contributions, or $7,651 per active participant. This is a plan-level historical figure, not a personal match quote.
What is Bank of America's 401(k) vesting schedule?
We have not verified the current vesting schedule yet. Ask for the latest SPD or benefits guide before counting employer money as fully yours.
What are Bank of America's 401(k) fees?
The 2024 filing reports $0 in administrative cost per active participant. Fund expenses and employee-level charges may require a current fee disclosure.
Can I use this page to compare Bank of America with another job offer?
Yes, as a starting point. Compare the documented match, vesting, eligibility, fees, investments, and the filing history, then confirm the current terms before assigning a dollar value to an offer.
Source evidence
What recent SEC filings may add
These snippets come from official SEC filings connected to the employer. They are useful clues, but we keep them separate from fully reviewed current plan terms.
Match
d contributions as follows: (1) Employee contributions may be withdrawn in the case of financial hardship within the meaning of Section 401(k) of the Internal Revenue Code (IRC), disability or after age 59½; (2) Company matching contributions for 2005 and later Plan years may be withdrawn in the case of disability or after age 59½; (3) Co…
Vesting
ase of financial hardship (as referenced above), disability, after 5 years of Plan participation, or after age 59½; and (4) As of July 11, 2024, generally a distribution of up to $ 1,000 may be made from a participant’s vested account for an unforeseeable or immediate financial need relating to necessary personal or family emergency expen…
Fees
ued under the Plan cannot exceed 400,000 shares of common stock. Shares available for issuance at February 28, 2026 were 188,269 . Certent, Inc. is the record keeper for the Plan. Administrative expenses of the Plan are paid by the Company. Plan Year The Plan year begins on March 1 and ends on February 28 (or February 29 in the case of a …
Eligibility
in Section 424(f) of the Internal Revenue Code of 1986 (the “Code”). A “Participating Subsidiary” means any Subsidiary that the Plan Administrator designates from time to time as eligible to participate in this Plan. Common stock for the Plan is issued directly from the Company’s authorized but unissued shares or previously issued shares …
Filing ACK_ID20250721130517NAL0000605299001
Data sourceDOL Form 5500 bulk data ↗
Filing searchEFAST2 ↗