ESOP · DOL Form 5500 · 2023
Bank of America Corporation ESOP
Data updated 2026-08-11
- $1.1B
- Total assets
- 4,647
- Participants
- 99th
- Percentile by assets
- $230,414
- Avg per participant
Official DOL plan name: The Bank of America Transferred Savings Account Plan · Sponsored by Bank of America Corporation · Rhode Island · Management of Enterprises
$1.1B in assets, 4,647 participants
Bank of America Corporation's The Bank of America Transferred Savings Account Plan reported $1.1B in total assets and 4,647 participants in its 2023 DOL Form 5500 filing, ranking in the 99th 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.
- 99th percentile by assets (of 127,072 plans)
- #1,084 in Management of Enterprises (1,137 peers)
Coverage in Rhode Island
The Bank of America Transferred Savings Account Plan covers 4,647 participants in Rhode Island, 3.2x the typical Rhode Island plan (state average ~1,449 per filing). Assets: $1.1B.
- $1.1B
- total plan assets (2023 EOY)
- 4,647
- covered participants
- 99th
- percentile by assets (of 127,072 plans)
- $230,414
- avg assets per participant
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- The Bank of America Transferred Savings Account Plan reported net income rose from -$358M in the plan year 2022 filing to $64M in the plan year 2023 filing.
- The Bank of America Transferred Savings Account Plan reported participants fell from 5,057 in the plan year 2022 filing to 4,647 in the plan year 2023 filing.
- The Bank of America Transferred Savings Account Plan end-of-year assets rose from $1.0B in the plan year 2022 filing to $1.1B in the plan year 2023 filing.
Participants vs Rhode Island filers
In Rhode Island, the average filing covers about 1,449 participants across 434 plans. The Bank of America Transferred Savings Account Plan reports 4,647 participants - 3.2x that state average ($1.1B EOY assets).
Rhode Island filing particulars
| Total Assets (Beginning of Year) | $1.0B |
|---|---|
| Net Assets (End of Year) | $1.1B |
| Net Income | $64M |
| Employer EIN | 560906609 |
| Plan Effective Date | 2009-04-15 |
| 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 ESOP Plans in Rhode Island
Peer ESOP plans, same state, same plan type, ranked by total assets.
The Bank of America Transferred Savings Account Plan vs. nearby ESOP plans in Rhode Island, assets vs. participants
- Century Drywall, Inc. Employee Stock Ownership Plan $75M · 43
- Thielsch Engineering, Inc. Employee Stock Ownership Plan $65M · 477
- Newport Harbor Corporation Employee Stock Ownership Plan $64M · 1,078
- Beta Group, Inc. Employee Stock Ownership Plan $23M · 162
- Marine Acoustics, Inc. Employee Stock Ownership Plan $6M · 51
Similar-Sized ESOP Plans Nationally
ESOP plans in other states closest to The Bank of America Transferred Savings Account Plan by total assets, not by location.
- The Sundt Companies Employee Stock Ownership Plan (AZ) $1.1B · 2,392
- Hypertherm Associate Stock Ownership Plan (NH) $1.0B · 1,417
- Evapco, Inc. Employee Stock Ownership Plan (MD) $1.1B · 1,617
- Rosendin Electric, Inc. Employee Stock Ownership Plan (CA) $1.1B · 1,700
Frequently Asked Questions
How did The Bank of America Transferred Savings Account Plan assets move in 2023? ▼
How have Bank of America Corporation plan assets changed over time? ▼
Where does The Bank of America Transferred Savings Account Plan rank by assets among Form 5500 filers? ▼
Which ESOP plans are similar in size to The Bank of America Transferred Savings Account Plan? ▼
Next read for The Bank of America Transferred Savings …
Filing takeaways
Ways to act on The Bank of America Transferred Savings Account Plan's numbers.
- By total assets, The Bank of America Transferred Savings Account Plan ranks among the largest 1% of all filed plans. See the largest plans
- Compare it side-by-side against 3 similar ESOP 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