Defined Benefit (Pension) · DOL Form 5500 · 2022
Bank of America Corporation Pension Plan
Data updated 2026-08-11
- $18.8B
- Total assets
- 59,906
- Participants
- 100th
- Percentile by assets
- $314,414
- Avg per participant
Official DOL plan name: The Bank of America Pension Plan · Sponsored by Bank of America Corporation · Rhode Island · Management of Enterprises
$18.8B in assets, 59,906 participants
Bank of America Corporation's The Bank of America Pension Plan reported $18.8B in total assets and 59,906 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.
- 100th percentile by assets (of 139,126 plans)
- #1,190 in Management of Enterprises (1,193 peers)
Coverage in Rhode Island
The Bank of America Pension Plan covers 59,906 participants in Rhode Island, 41x the typical Rhode Island plan (state average ~1,449 per filing). Assets: $18.8B.
- $18.8B
- total plan assets (2022 EOY)
- 59,906
- covered participants
- 100th
- percentile by assets (of 139,126 plans)
- $314,414
- avg assets per participant
The plan reported a net loss of $4.9B for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
Participants vs Rhode Island filers
In Rhode Island, the average filing covers about 1,449 participants across 434 plans. The Bank of America Pension Plan reports 59,906 participants - 41x that state average ($18.8B EOY assets).
Rhode Island filing particulars
| Total Assets (Beginning of Year) | $23.7B |
|---|---|
| Net Assets (End of Year) | $17.2B |
| Net Income | -$4.9B |
| Employer EIN | 560906609 |
| Plan Effective Date | 1973-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Bank of America Corporation)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 3 | 233,999 | $67.0B |
| 2023 | 3 | 235,065 | $75.1B |
| 2024 | 3 | 227,092 | $83.1B |
Nearby Defined Benefit (Pension) Plans in Rhode Island
Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.
The Bank of America Pension Plan vs. nearby Defined Benefit (Pension) plans in Rhode Island, assets vs. participants
- Textron Master Retirement Plan $5.0B · 7,702
- Factory Mutual Insurance Company Pension Plan $2.7B · 3,598
- Bell Helicopter Textron Master Retirement Plan $2.1B · 2,995
- Amica Pension Fund $1.7B · 2,750
- Cfg Pension Plan $1.1B · 3,600
Scale composition for The Bank of America Pension Plan
The Bank of America Pension Plan reports $18.8B in end-of-year assets across 59,906 participants (0.15% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.064% of 93,925,755 covered participants) - about $314,414 per participant (2.3x the national average assets-per-participant) . Net income for plan year 2022 was -$4.9B.
This plan identity (EIN 560906609, plan #001) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $18.8B to $19.0B (+1.1%) while covered participants moved from 59,906 to 53,831 . Single-year sparse filers cannot show that trail.
| Plan year | Participants | EOY assets | Filing |
|---|---|---|---|
| 2022 | 59,906 | $18.8B | This page |
| 2023 | 56,519 | $19.2B | Open filing |
| 2024 · index core | 53,831 | $19.0B | 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)
Similar-Sized Defined Benefit (Pension) Plans Nationally
Defined Benefit (Pension) plans in other states closest to The Bank of America Pension Plan by total assets, not by location.
- Lockheed Martin Corporation Salaried Employee Retirement Program (MD) $18.8B · 21,647
- Ford Motor Company UAW Retirement Plan (MI) $19.3B · 27,567
- Northrop Grumman Pension Plan (VA) $18.3B · 14,867
- Retirement Plan of Johnson and Johnson (NJ) $19.8B · 38,100
Frequently Asked Questions
How did The Bank of America Pension Plan assets move in 2022? ▼
How have Bank of America Corporation plan assets changed over time? ▼
Where does The Bank of America Pension Plan rank by assets among Form 5500 filers? ▼
Which Defined Benefit (Pension) plans are similar in size to The Bank of America Pension Plan? ▼
Next read for The Bank of America Pension Plan
Filing takeaways
Ways to act on The Bank of America Pension Plan's numbers.
- By total assets, The Bank of America Pension Plan ranks among the largest 1% of all filed plans. See the largest plans
- Compare it side-by-side against 3 similar Defined Benefit (Pension) plans in Rhode Island. Compare plans
- Bank of America Corporation's sponsor-wide assets have grown 24.0% since 2022 across 3 plan years on file. More Management of Enterprises plans