Workplace Insights | Bank of America Merrill Lynch
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At Bank of America Merrill Lynch, we recognize the important role and responsibility you have as a plan fiduciary in helping participants invest for retirement and plan for their financial futures. The job of a plan fiduciary can be demanding, but you don't have to manage it all on your own. Through our Defined Contribution Investment Consulting (DCIC) program,1 we can act as an ERISA 3(21) fiduciary2 for your plan and help you construct and maintain an appropriate investment menu.

Merrill Lynch DCIC Program1

Investment Policy Statement and Menu Design

  • Dialogue with your advisor to explore plan objectives and investment options.
  • Investment policy statement (IPS)* and investment menu design based on your plan goals and participant needs.
  • Merrill Lynch accepts ERISA 3(21) fiduciary responsibility for investment advice and recommendations.

Investment Due Dilligence

  • Comprehensive due diligence processes to identify appropriate investment options.
  • Confidence knowing that due diligence is conducted by the Chief Investment Office (CIO) or other strategic partners.

Investment Performance Reporting

  • Reporting to assist you in documenting a sound fiduciary process.
  • Provides market trends, fund analysis and outcomes of due diligence in an easy-to-understand format.
  • Recommended replacement options for funds not meeting due diligence standards.
* The plan sponsor is responsible for the approval and final adoption of the IPS.

Our knowledgeable and experienced advisors are:

Qualified: All of the advisors selected to provide our fiduciary services must meet stringent requirements and demonstrate deep knowledge of defined contribution plans and fiduciary requirements.

Consultative: Through personal interaction and the regular exchange of information and ideas, your Merrill Lynch Designated Advisor learns about your organization, your employees and their needs so they can make appropriate recommendations and share their knowledge of investments with you.

Proactive: Your advisor will notify you of any investments that no longer meet our criteria, share insights on investments and recommend options. They will also provide investment performance reporting to help you with your monitoring responsibilities.

1DCIC is an investment advisory program sponsored by Merrill Lynch. It is only available to defined contribution plans, typically with greater than $10 million in assets, for which an external provider serves as recordkeeper (plans with recordkeeping services provided by Merrill Lynch or our Advisor Alliance providers are not eligible for DCIC), and subject to certain requirements. Please refer to the Merrill Lynch Defined Contribution Investment Consulting Brochure for information on the program including a description of the services and related fees. For more information on plan eligibility speak to your Merrill Lynch Designated Advisor.
2The DCIC agreement and disclosure documents include detailed information about Merrill Lynch's fiduciary responsibility pursuant to ERISA section 3(21). Final selection of all investments to be included in the plan menu will be that of the client. Bank of America Merrill Lynch will not advise upon any employer securities, including any employer stock fund, or with respect to any self-directed brokerage option, participant loan balances, in-plan retirement income options, custom funds or Bank of America or Merrill Lynch affiliated mutual funds or other affiliated products (including, without limitation, deposit products including Retirement Bank Account).

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