Institutional Trust | Bank of America Merrill Lynch

Institutional Trust Services

Trustee, custodial, investment and pension payment services you can rely on

The safekeeping of retirement plan assets for the exclusive benefit of participants and their beneficiaries is a critically important responsibility and a core business of Bank of America Merrill Lynch. Through Bank of America, N.A., we provide comprehensive institutional trust services, custody and pension payment services, paired with access to investment services through Merrill Lynch.

Institutional Trust Services

Trust services and administration

Trust/custody accounting and reporting services include:

  • Securities clearance and daily safekeeping of assets
  • Corporate action communication and processing
  • Proxy reporting and class action filing
  • Trade settlement, daily account reconciliation
  • ERISA compliant accounting schedules
  • Daily, monthly and annual reporting
  • Type II Service Auditors' Report (SSAE 18)
  • Revalued cost reports
  • Automatic sweep of cash balances into short-term investment funds
  • Online inquiry and communication
  • Online access to transactions, balances, daily valuations and statements

Investment Services

Because Merrill Lynch financial advisors have a thorough understanding of retirement plans, you can rely on them to help you develop investment strategies that correspond to your investment policy statement and asset allocation guidelines.

Your Merrill Lynch financial advisor team can:

  • Help you develop and monitor your investment strategy
  • Conduct strategic and tactical analysis to determine portfolio rebalancing needs
  • Conduct performance reviews
  • Attend pension committee meetings
  • Provide information and access to our non-proprietary, open-architecture investments

Retiree pension payment services

Getting pension payments to retirees accurately and on time is one of the most important roles a trustee can play. Our pension payment services include:

  • Recurring payments via check or ETF
  • Lump sum payments
  • All tax withholding, remitting, reporting
  • Tax reporting to retirees
  • Medical deductions and remittance
  • Rollovers to an Individual Retirement Rollover Account
  • Semi-annual death audits
  • Online access to retiree data, history and payment status

1. Merrill Lynch Investment Advisory Program (IAP) — is an investment advisory service sponsored by Merrill Lynch. Merrill Lynch offers a broad range of brokerage, investment advisory and other services. There are important differences between brokerage and investment advisory services, including the type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. It is important to understand the differences, particularly when determining which service or services to select. All recommendations must be based on the suitability requirements of the client. For more information, please refer to the Merrill Lynch Investment Advisory Program (IAP) brochure.

2. Bank of America, N.A. will act as a fiduciary in providing investment services and will manage plan assets consistent with the duties and standards established under ERISA, including its oversight of any third-party investment managers. Merrill Lynch and its representatives do not provide investment advice with regard to defined benefit plans where Bank of America, N.A. is a fiduciary.

AR-ARWWR88K-EXP-08/13/2019
See how Retirement & Benefit Plan Services can expand the possibilities of your employee benefit solutions.
Request Contact