401(k) · DOL Form 5500 · 2022
Bank of America Corporation 401(k) Plan
Data updated 2026-08-25
- $47.1B
- Total assets Mega-plan scale
- 169,036
- Participants Very large workforce
- 100th
- Percentile by assets National rank
- $278,840
- Avg per participant High balance/head
Official DOL plan name: The Bank of America 401(k) Plan · Sponsored by Bank of America Corporation · North Carolina · Management of Enterprises
$47.1B in assets, 169,036 participants
Bank of America Corporation's The Bank of America 401(k) Plan reported $47.1B in total assets and 169,036 participants in its 2022 DOL Form 5500 filing, ranking in the 100th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.
- #1,193 in Management of Enterprises (1,193 peers)
Coverage in North Carolina
The Bank of America 401(k) Plan covers 169,036 participants in North Carolina, 206x the typical North Carolina plan (state average ~819 per filing). Assets: $47.1B.
- #1,193
- in Management of Enterprises (1,193 peers)
- -18.6%
- assets change YoY
- 473×
- vs typical plan assets (national mean)
The plan reported a net loss of $10.7B for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
The Bank of America 401(k) Plan's outsized position by total assets
The Bank of America 401(k) Plan vs every filed plan by assets
End-of-year total assets · plan year 2022 · DOL Form 5500
$47,134,026,012 Highest reported value at or above every one of 139,123 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2022
The Bank of America 401(k) Plan's mega-plan peer group by participant headcount
Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. The Bank of America 401(k) Plan is a mega filing (169,036 participants), the rightmost band on the breakdown.
Form 5500 schedule snapshot
Filing strip 560906609 · Bank of America Corporation PY 2022 · 401(k)
The Bank of America 401(k) Plan · $47.1B · 169,036 · 100th
- 5500 $47.1B
- 5500 169,036
- 5500 100th
- 5500 401(k)
- 5500 near Wells Fargo & Company 401(k) Plan
- 5500 ind #1193
Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Management of Enterprises retirement plans → · Plans in North Carolina →
The Bank of America 401(k) Plan in the asset neighbourhood
North Carolina filing particulars
| Total Assets (Beginning of Year) | $57.9B |
|---|---|
| Net Assets (End of Year) | $47.1B |
| Net Income | -$10.7B |
| Employer EIN | 560906609 |
| Plan Effective Date | 1983-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Bank of America Corporation)
Sponsor-wide plan assets over time
All Bank of America Corporation plans reported in each filing year
- Latest sponsor-wide plan assets
- $83.1B 24.020709082622414% vs 2022
- 2024 filing year
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 3 | 233,999 | $67.0B |
| 2023 | 3 | 235,065 | $75.1B |
| 2024 | 3 | 227,092 | $83.1B |
Nearby 401(k) Plans in North Carolina
Peer 401(k) plans, same state, same plan type, ranked by total assets.
- Honeywell 401(k) Plan $14.6B · 39,007
- Duke Energy Retirement Savings Plan $9.4B · 27,731
- Truist Financial Corporation 401(k) Savings Plan $9.0B · 51,871
- Lowes 401(k) Plan $7.4B · 284,864
- Nucor Corporation Profit Sharing and Retirement Savings Plan $6.9B · 21,030
Scale composition for The Bank of America 401(k) Plan
The Bank of America 401(k) Plan reports $47.1B in end-of-year assets across 169,036 participants (0.38% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.18% of 93,925,755 covered participants) - about $278,840 per participant (2.0x the national average assets-per-participant) . Net income for plan year 2022 was -$10.7B.
This plan identity (EIN 560906609, plan #003) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $47.1B to $62.9B (+33.5%) while covered participants moved from 169,036 to 168,963 . Single-year sparse filers cannot show that trail.
| Plan year | Participants | EOY assets | Filing |
|---|---|---|---|
| 2022 | 169,036 | $47.1B | This page |
| 2023 | 173,899 | $54.8B | Open filing |
| 2024 · index core | 168,963 | $62.9B | Open filing |
The same sponsor also keeps 3 other index-core plans on PlainRetire:
- The Bank of America 401(k) Plan (401(k), $62.9B, 168,963 participants)
- The Bank of America Pension Plan (Defined Benefit (Pension), $19.0B, 53,831 participants)
- The Bank of America Transferred Savings Account Plan (ESOP, $1.1B, 4,298 participants)
The Bank of America 401(k) Plan's out-of-state 401(k) peers by assets and headcount
Outside North Carolina, the nearest 401(k) by assets is Wells Fargo & Company 401(k) Plan in CA ($45.8B); by covered participants it is Allegis Group, Inc. Retirement Savings Plan Two in MD (174,956 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($47.1B here).
- Wells Fargo & Company 401(k) Plan (CA) $45.8B · 205,865
- United Technologies Corporation Employee Savings Plan (CT) $48.9B · 55,762
- Lockheed Martin Corporation Salaried Savings Plan (MD) $43.6B · 87,666
- IBM 401 (K) Plus Plan (NY) $53.4B · 56,376
Similar participant headcount
Nearest other-state filings by covered participants (169,036 participants); asset peers above are excluded.
- Allegis Group, Inc. Retirement Savings Plan Two (MD) 174,956 · 5,920 off
- Teamsters-National 401(k) Savings Plan (PA) 162,104 · 6,932 off
- Darden Savings Plan (FL) 176,132 · 7,096 off
- Publix Super Markets, Inc. 401(k) Smart Plan (FL) 176,752 · 7,716 off
DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.