Defined Benefit | Bank of America Merrill Lynch
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Defined Benefit Pension Plans

A flexible approach can ease the burden of managing your pension plan

Defined benefit plans continue to play a viable, if changing, role in today’s retirement plan offerings. Whether your defined benefit plan is an active part of your benefit offering, closed to new participants, or fully frozen, our service model allows you to outsource many tasks to an experienced team so you can focus on what matters to your business.

Explore the strength of our integrated defined benefits services

Bank of America offers a range of potential integrated solutions to help defined benefit pension plan sponsors and their investment committees implement investment strategies. We combine independent investment consulting, implementation, custody, governance, as well as recordkeeping and administration services, to provide a broad array of flexible, cost-effective solutions appropriately tailored to your needs.

From the bigger picture to the finer details

At Bank of America, our goal is to design an approach that helps meet the strategic and administrative needs of your pension plan while providing attentive support to your employees and retirees. Our integrated defined benefits solutions include:

  • Flexible pension solutions across consulting, investment advisory services, investment management, trust, custody, and pension payments.
  • Comprehensive, full outsourced defined benefit plan administrative, recordkeeping and participant services.
  • Customized consulting, investment strategies including Exchange Traded Funds (ETFs), mutual funds and separate account implementation.
  • Both advisory and discretionary management approaches, including tactical and strategic asset allocation.
  • Broad open architecture investment platform with extensive due diligence.
  • Flexible fiduciary structure that allows for client input and customization.
  • Liability-driven investment and de-risking strategies.

Bank of America Structure

Investment consulting

Investment management1

Institutional trust
and custody

Key Services

Risk management

  • Co-fiduciary services1 - investment management services for defined benefit (DB) pension plans.
  • De-risking strategy and customized portfolio structure based on specific liability for DB pension plans.
  • Strategic asset/liability analysis and review.

Targeted investment management

  • Investment policy statement development.
  • Liability driven investment implementation.

Integrated Trust Administration

  • Bank of America custodial platform
  • Customized separate account implementation.
  • Pension payments and tax-reporting 1099-R.

If your needs include other retirement plans, such as 401(k) or non-qualified plans, our ability to provide a one-stop, fully integrated retirement offering not only sets us apart, it is a convenience that enriches the participant experience and helps your employees better understand and fully appreciate their benefits across the spectrum.


1As discretionary trustee of your defined benefit pension plan, Bank of America will act as a co-fiduciary for investment management and will manage plan assets consistently with the duties and standards established under ERISA.

See how Retirement & Benefit Plan Services can expand the possibilities of your employee benefit solutions.
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