401(k) · DOL Form 5500 · 2024
Bank of America Corporation 401(k) Plan
Data updated 2026-08-25
- $62.9B
- Total assets Mega-plan scale
- 168,963
- Participants Very large workforce
- 100th
- Percentile by assets National rank
- $372,285
- 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
$62.9B in assets, 168,963 participants
Bank of America Corporation's The Bank of America 401(k) Plan reported $62.9B in total assets and 168,963 participants in its 2024 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.
- #1,133 in Management of Enterprises (1,133 peers)
Coverage in North Carolina
The Bank of America 401(k) Plan covers 168,963 participants in North Carolina, 206x the typical North Carolina plan (state average ~819 per filing). Assets: $62.9B.
- #1,133
- in Management of Enterprises (1,133 peers)
- +14.7%
- assets growth YoY
- 631×
- vs typical plan assets (national mean)
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 2024 · DOL Form 5500
$62,902,405,616 Highest reported value at or above every one of 123,620 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024
The Bank of America 401(k) Plan's mega-plan peer group by participant headcount
Plan-year 2024 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 (168,963 participants), the rightmost band on the breakdown.
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- The Bank of America 401(k) Plan end-of-year assets rose from $54.8B in the plan year 2023 filing to $62.9B in the plan year 2024 filing.
- The Bank of America 401(k) Plan reported net income rose from $7.7B in the plan year 2023 filing to $8.0B in the plan year 2024 filing.
- The Bank of America 401(k) Plan reported participants fell from 173,899 in the plan year 2023 filing to 168,963 in the plan year 2024 filing.
DOL schedule card
Filing strip 560906609 · Bank of America Corporation PY 2024 · 401(k)
The Bank of America 401(k) Plan · $62.9B · 168,963 · 100th
- EBSA $62.9B
- EBSA 168,963
- EBSA 100th
- EBSA 401(k)
- EBSA near IBM 401(k) Plan
- EBSA ind #1133
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) | $54.8B |
|---|---|
| Net Assets (End of Year) | $62.9B |
| Net Income | $8.0B |
| 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 $16.3B · 39,468
- Duke Energy Retirement Savings Plan $11.3B · 27,341
- Nucor Corporation Profit Sharing and Retirement Savings Plan $9.3B · 27,070
- Truist Financial Corporation 401(k) Savings Plan $9.2B · 52,699
- Charter Communications, Inc. 401(k) Savings Plan $8.9B · 102,013
Scale composition for The Bank of America 401(k) Plan
The Bank of America 401(k) Plan reports $62.9B in end-of-year assets across 168,963 participants (0.51% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.18% of 93,925,755 covered participants) - about $372,285 per participant (2.7x the national average assets-per-participant) . Net income for plan year 2024 was $8.0B.
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 | Open filing |
| 2023 | 173,899 | $54.8B | Open filing |
| 2024 · index core | 168,963 | $62.9B | This page |
The same sponsor also keeps 2 other index-core plans on PlainRetire:
- 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 IBM 401(k) Plan in NY ($60.4B); by covered participants it is Insperity 401(k) Plan in TX (177,779 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($62.9B here).
- IBM 401(k) Plan (NY) $60.4B · 52,674
- Microsoft Corporation Savings Plus 401(k) Plan (WA) $65.6B · 118,818
- Rtx Savings Plan (CT) $58.6B · 124,876
- Wells Fargo & Company 401(k) Plan (MN) $57.9B · 179,076
Similar participant headcount
Nearest other-state filings by covered participants (168,963 participants); asset peers above are excluded.
- Insperity 401(k) Plan (TX) 177,779 · 8,816 off
- Kelly Retirement Savings Plan (MI) 180,351 · 11,388 off
- Allegis Group, Inc. Retirement Savings Plan Two (MD) 184,952 · 15,989 off
- Teamsters-National 401(k) Savings Plan (PA) 152,665 · 16,298 off
DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.