# Bank Of America Corporation Health & Welfare Plan
Source: https://planprovider.pro/companies/bank-of-america-corporation-560906609-501

> Bank Of America Corporation's Health & Welfare plan: 170,439 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Bank Of America Corporation

- **Sponsor EIN:** 560906609

- **Sponsor Address:** 3400 PAWTUCKET AVE., RI1-530-01-15, RIVERSIDE, RI, 029155298

- **Plan Type:** Health & Welfare

- **Plan Number:** 501

- **Total Participants:** 170,439

- **Total Assets:** $428.4M

## Key Plan Design Features

- **Auto-Enrollment:** No

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** No

- **ERISA Section 404(c) Fiduciary Safe Harbor:** No

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|170,439|$428.4M|$2.2B|$1.1B|

| 2023|171,093|$429.5M|$2.2B|$996.0M|

| 2022|175,740|$446.4M|$2.0B|$937.6M|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| BLUE CROSS BLUE SHIELD OF GEORGIA|Investment Advisor|$46,521,314|—|$46,521,314|

| WELL DOT, INC.|Other Service Provider|$28,379,557|—|$28,379,557|

| UNITED HEALTHCARE INSURANCE CO.|Other Service Provider|$21,679,936|—|$21,679,936|

| AETNA LIFE INSURANCE COMPANY|Other Service Provider|$18,227,459|—|$18,227,459|

| ALIGHT SOLUTIONS LLC|Recordkeeper|$12,536,165|—|$12,536,165|

| CVS PHARMACY, INC.|Other Service Provider|$11,677,330|—|$11,677,330|

| SEDGWICK CLAIMS NAMAGEMENT SERVICES|Other Service Provider|$9,638,203|—|$9,638,203|

| QUEST DIAGNOSTICS|Other Service Provider|$4,103,625|—|$4,103,625|

| MAVEN CLINIC CO.|Other Service Provider|$4,076,000|—|$4,076,000|

| PERSONIFY HEALTH, INC.|Other Service Provider|$3,905,919|—|$3,905,919|

| MERATIVE US L.P.|Other Service Provider|$853,987|—|$853,987|

| WILLIS TOWERS WATSON|Recordkeeper|$209,950|—|$209,950|

| MERCER HR CONSULTING|Investment Advisor|$167,562|—|$167,562|

| SILVERSCRIPT INSURANCE COMPANY|Other Service Provider|$109,971|—|$109,971|

| MCCONNELL & JONES LLP|Auditor|$105,443|—|$105,443|

| BANK OF AMERICA RETIREMENT SERVICES|Other Service Provider|$86,199|—|$86,199|

| AON CONSULTING INC.|Recordkeeper|$67,000|—|$67,000|

| BANK OF AMERICA PERSONNEL CENTER|Other Service Provider|$20,468|—|$20,468|

| SUN LIFE ASSURANCE CO OF CANADA|Investment Advisor|$9,893|—|$9,893|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [BLUE CROSS BLUE SHIELD OF GEORGIA](https://planprovider.pro/provider/marsh-mclennan-agency) — Investment Advisor

- [ALIGHT SOLUTIONS LLC](https://planprovider.pro/provider/alight-solutions) — Recordkeeper

- [WILLIS TOWERS WATSON](https://planprovider.pro/provider/lincoln-financial-group) — Recordkeeper

- [MERCER HR CONSULTING](https://planprovider.pro/provider/mercer-advisors) — Investment Advisor

- [MCCONNELL & JONES LLP](https://planprovider.pro/provider/mcconnell-and-jones-llp) — Auditor

- [AON CONSULTING INC.](https://planprovider.pro/provider/alight-solutions) — Recordkeeper

- [SUN LIFE ASSURANCE CO OF CANADA](https://planprovider.pro/provider/marsh-mclennan-agency) — Investment Advisor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $162,375,981

- **Estimated Expense Ratio:** 37.900% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$162,368,414|—|$160,932,372|$105,443|—|

| 2023|$153,562,651|—|$152,081,728|$99,380|—|

| 2022|$126,661,899|—|$121,118,056|—|$5,332,530|

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- [Bank Of America, N.A.](https://planprovider.pro/companies/bank-of-america-n-a-plan) — 66 participants

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