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Helping make financial lives better

At Bank of America, we are devoted to a single mission: Helping make financial lives better.

We address people wherever they are, so financial benefits are personal and financial wellness actionable.

With the power of every connection we make, our goal is
to help people achieve more towards their financial goals today, and into retirement. We’ll bring that single and unrelenting focus to you and your employees.

Financial benefits designed to be people benefits

When your employees can live their best financial lives,
it shows in the workplace.

We know your employees don’t leave their worries and concerns about money at the door. That’s why we take a holistic approach to employee benefits, understanding that money is a personal topic for everyone and encompasses more than workplace programs.

The value of integration

Whether your organization needs a retirement plan, equity, executive benefits or health savings accounts, you can find
it here. We can serve as your one provider to help unify your employee programs in a single, convenient experience.
No matter your employees’ financial goals, our solutions can help reduce financial stress and help your employees take action as they manage their holistic financial lives in one place, with guidance and resources that factor in all of their financial priorities.

The magic here is understanding what our clients are going through, what their fears are, what gets them excited.

- Lorna Sabbia,
Head of Retirement and
Personal Wealth Solutions

2954589-EXP-03/04/2021

Our employee benefits programs are designed to help people do and achieve more toward their financial goals.

1 The J.D. Power Certified Contact Center ProgramSM focuses on critical areas of customer satisfaction by rewarding best practices that are aligned with customer needs. To become certified for live phone interactions, a contact center operation must successfully pass a detailed audit and also perform within the top 20 percent of customer service scores, which are based on benchmarks established in J.D. Power’s cross-industry customer satisfaction research. The evaluation criteria include the customer service representative’s courtesy, knowledge and concern for the customer; promptness in speaking to a person; and timely resolution of the problem or request. Additionally, the experience with the automated phone system is evaluated based on the clarity of the information provided, the ease of navigating the phone menu prompts and the ease of understanding the phone menu instructions. J.D. Power 2019 Certified Customer Service Program recognition is based on successful completion of an evaluation and exceeding a customer satisfaction benchmark through a survey of recent servicing interactions. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome. For more information, visit https://www.jdpower.com/ccc. Participation in this survey was paid for by Bank of America. 
2 Ratings were based on results from 2,698 plan sponsors that replied to the 2019 PLANSPONSOR Defined Contribution (DC) Survey questionnaire. 23 defined contribution plan recordkeepers obtained the minimum required survey responses to be considered for awards. “Best in Class” awards are given to the three highest scoring providers and all providers who scored higher than the required benchmark within each plan asset size: Micro (under $5 million), Small A ($5 million–$25 million), Small B (>$25 million–$50 million), Mid (>$50 million–$200 million), Large (>$200 million–$1 billion), and Mega (over $1 billion). PLANSPONSOR magazine, an Institutional Shareholder Services Inc. business, is a leading authority on retirement issues and benefits programs. For additional details, please refer to the December–January 2020 issue of PLANSPONSOR Magazine or visit www.plansponsor.com. Bank of America is not affiliated with the website provided and does not monitor, maintain or specifically approve any of the information available on the website. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.
3 For the year ending 2019, DALBAR, Inc. examined defined contribution (DC) statements from 26 financial service providers, and total retirement (TR) statements from five financial service providers. Statements are scored on a 100-point scale in criteria grouped into four broad categories: Calculated to be Understood (Statement Clarity), Primary Content and Secondary Content (Statement Content), and Design and Statement Formats (Statement Design). Statements that earn 80-100 points are designated “Excellent.” Statements that earn 70-79 points are designated “Very Good.” The DC statement earned a score of 90.80, the highest awarded in its category. The TR statement earned a score of 83.95, the highest awarded in its category. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.
4 For first quarter 2020, DALBAR's WebMonitor program examined participant websites offered by 30 Defined Contribution service providers. Websites are awarded a score from 0–100. Websites that earn 80–100 points are designated “excellent.” Websites that earn 70–79 points are designated “very good.” Merrill earned a score of 82.57, the seventh highest awarded in the Retirement (Defined Contribution) category. Since Q3-2008, Merrill’s Benefits OnLine® site has been awarded a DALBAR Designation of “Excellent.” The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.
5 DALBAR’S Mobile InSIGHT analyzes financial services firms’ offerings and recognizes those who create a meaningful user experience fit for mobile consumption. From January–June 2019, DALBAR, Inc. examined mobile websites offered by 22 Defined Contribution service providers. Mobile sites are awarded a score from 0–100. Mobile sites that earn 80–100 points are designated “excellent.” Mobile sites that earn 70–79 points are designated “very good.” Merrill earned a score of 82.93 and an “excellent” rating. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.
6 Findings from an independent study from the National Association of Retirement Plan Participants (NARPP). NARPP’s 7th annual Participant Trust and Engagement Study are based on interviews conducted in May 2020 by an online panel and include the responses of 4,500 randomly selected active retirement plan participants representing 16 recordkeepers. Five categories were measured in this survey including: trust, confidence, education, participant knowledge and overall satisfaction. Bank of America scored highest in all categories. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.
7 For months July-December 2019, DALBAR, Inc. examined 45 mobile applications from financial services firms. 18 of the 45 mobile applications were defined contribution (DC) experiences reviewed on 2 types of devices. Criteria consisted of 10 distinct evaluation categories and each mobile app earned a rating between 1 and 5 stars, both overall and within individual evaluation categories. Benefits Online earned an exceptional rating in multiple evaluation categories including: design, navigation, security, personalization and ease of use. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.
3189130-EXP-09/15/2021
See how Retirement & Benefit Plan Services can expand the possibilities of your employee benefit solutions.
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