Defined Benefit (Pension) · DOL Form 5500 · 2024

Bank of America Corporation Pension Plan

Data updated 2026-08-25

$19.0B
Total assets Mega-plan scale
53,831
Participants Very large workforce
100th
Percentile by assets National rank
$353,722
Avg per participant High balance/head
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Official DOL plan name: The Bank of America Pension Plan · Sponsored by Bank of America Corporation · Rhode Island · Management of Enterprises

$19.0B in assets, 53,831 participants

Bank of America Corporation's The Bank of America Pension Plan reported $19.0B in total assets and 53,831 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.

  • #1,130 in Management of Enterprises (1,133 peers)

Coverage in Rhode Island

The Bank of America Pension Plan covers 53,831 participants in Rhode Island, 37x the typical Rhode Island plan (state average ~1,449 per filing). Assets: $19.0B.

#1,130
in Management of Enterprises (1,133 peers)
-0.8%
assets change YoY
191×
vs typical plan assets (national mean)

The Bank of America Pension Plan's outsized position by total assets

The Bank of America Pension Plan vs every filed plan by assets

End-of-year total assets · plan year 2024 · DOL Form 5500

$19,041,232,839 Highest reported value at or above every one of 123,620 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

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 Pension 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 Pension Plan is a mega filing (53,831 participants), the rightmost band on the breakdown.

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • The Bank of America Pension Plan reported net income fell from $403M in the plan year 2023 filing to $3M in the plan year 2024 filing.
  • The Bank of America Pension Plan reported participants fell from 56,519 in the plan year 2023 filing to 53,831 in the plan year 2024 filing.
  • The Bank of America Pension Plan end-of-year assets fell from $19.2B in the plan year 2023 filing to $19.0B in the plan year 2024 filing.

See the national 2023→2024 release diff →

EBSA filing schedule strip

Filing strip 560906609 · Bank of America Corporation PY 2024 · Defined Benefit (Pension)

The Bank of America Pension Plan · $19.0B · 53,831 · 100th

  • PHOTO $19.0B
  • IND 53,831
  • EOY 100th
  • 5500 Defined Benefit (Pension)
  • ASSETS near GE Aerospace Pension Plan
  • PCT ind #1130

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 Rhode Island →

The Bank of America Pension Plan in the asset neighbourhood

The Bank of America Pension PlanThe Bank of America Pension …$19.0BGE Aerospace Pension Plan$19.0BNorthrop Grumman Pension Plan$18.8BLockheed Martin Corporation Salaried Employee Retirement ProgramLockheed Martin Corporation …$18.3BIBM Personal Pension Plan$17.9B
End-of-year total assets ($B) among The Bank of America Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2024.

Rhode Island filing particulars

Total Assets (Beginning of Year)$19.2B
Net Assets (End of Year)$17.6B
Net Income$3M
Employer EIN560906609
Plan Effective Date1973-01-01
Filing StatusFILING 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
$65B$70B$75B$80B$85B 202220232024 $67B $83.1B ▲ +24.0%
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 Scatter plot of 6 data points. -200000200004000060000 05101520 Total assets ($B) Participants The Bank of America Pension Plan, Total assets ($B): 19.041232839 · Participants: 53831The Bank of America Pension PlanTextron Master Retirement Plan, Total assets ($B): 5.458240388 · Participants: 6888Textron Master Retirement PlanFactory Mutual Insurance Company Pension Plan, Total assets ($B): 3.028187818 · Participants: 3656Factory Mutual Insurance Company Pension PlanBell Helicopter Textron Master Retirement Plan, Total assets ($B): 2.329548169 · Participants: 2671Bell Helicopter Textron Master Retirement PlanAmica Pension Fund, Total assets ($B): 1.66403358 · Participants: 2172Amica Pension FundCfg Pension Plan, Total assets ($B): 1.200889518 · Participants: 2962Cfg Pension Plan
The Bank of America Pension Plan vs. nearby Defined Benefit (Pension) plans in Rhode Island, assets vs. participants
Compare The Bank of America Pension Plan side-by-side with 3 peers →

Scale composition for The Bank of America Pension Plan

The Bank of America Pension Plan reports $19.0B in end-of-year assets across 53,831 participants (0.15% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.057% of 93,925,755 covered participants) - about $353,722 per participant (2.6x the national average assets-per-participant) . Net income for plan year 2024 was $3M.

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 Open filing
2023 56,519 $19.2B Open filing
2024 · index core 53,831 $19.0B This page

The same sponsor also keeps 2 other index-core plans on PlainRetire:

The Bank of America Pension Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Rhode Island, the nearest Defined Benefit (Pension) by assets is GE Aerospace Pension Plan in OH ($19.0B); by covered participants it is Building Service 32bj Pension Fund in NY (53,357 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($19.0B here).

Similar participant headcount

Nearest other-state filings by covered participants (53,831 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did The Bank of America Pension Plan assets move in 2024? ▼
The Bank of America Pension Plan held essentially flat - down 0.8% during 2024, from $19.2B to $19.0B. Reported net income was $3M.
How have Bank of America Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Bank of America Corporation's sponsor-wide assets grew 24.0%, from $67.0B to $83.1B.
Where does The Bank of America Pension Plan rank by assets among Form 5500 filers? ▼
The Bank of America Pension Plan ranks in the 100th percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (among the largest 1% of all filed plans).
Which Defined Benefit (Pension) plans are similar in size to The Bank of America Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is GE Aerospace Pension Plan in OH ($19.0B, 9,637 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to The Bank of America Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Building Service 32bj Pension Fund in NY (53,357 participants, $4.6B in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 560906609.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.