Plan Snapshot
- Plan Sponsor: Bank Of America, N.A.
- Sponsor EIN: 941687665
- Sponsor Address: 3400 PAWTUCKET AVE., RI1-530-01-15, RIVERSIDE, RI, 029155298
- Plan Type: DB
- Total Participants: 66
- Total Assets: $13.2M
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. |
|---|---|---|---|---|
| 2023 | 66 | $13.2M | $300,000 | $0 |
| 2022 | 49 | $11.8M | $300,000 | $0 |
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 |
|---|---|---|---|---|
| WILLIS TOWERS WATSON | NONE | $212,382 | — | $212,382 |
| MCCONNELL & JONES LLP | NONE | $110,338 | — | $110,338 |
| SMITH & DOWNEY, P.A. | NONE | $30,500 | — | $30,500 |
| BANK OF AMERICA RETIREMENT SERVICES | INTERNAL BANK DEPT. | $18,496 | — | $18,496 |
| BANK OF AMERICA PERSONNEL CENTER | INTERNAL BANK DEPT. | $13,270 | — | $13,270 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WILLIS TOWERS WATSON — NONE
- MCCONNELL & JONES LLP — NONE
- SMITH & DOWNEY, P.A. — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $384,986
- Estimated Expense Ratio: 2.915% 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 |
|---|---|---|---|---|---|
| 2023 | $275,421 | — | — | $59,169 | — |
| 2022 | $189,805 | — | — | — | $150,558 |