Defined Benefit (Pension) · DOL Form 5500 · 2024
Bank of America Corporation Pension Plan
Data updated 2026-07-24
- $19.0B
- Total assets
- 53,831
- Participants
- 100th
- Percentile by assets
- $353,722
- Avg per participant
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.
- 100th percentile by assets (of 116,472 plans)
Coverage in Rhode Island
The Bank of America Pension Plan covers 53,831 participants in Rhode Island, 36x the typical Rhode Island plan (state average ~1,486 per filing). Assets: $19.0B.
- $19.0B
- total plan assets (2024 EOY)
- 53,831
- covered participants
- 100th
- percentile by assets (of 116,472 plans)
- $353,722
- avg assets per participant
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.
Participants vs Rhode Island filers
In Rhode Island, the average filing covers about 1,486 participants across 402 plans. The Bank of America Pension Plan reports 53,831 participants - 36x that state average ($19.0B EOY assets).
Rhode Island filing particulars
| Total Assets (Beginning of Year) | $19.2B |
|---|---|
| Net Assets (End of Year) | $17.6B |
| Net Income | $3M |
| 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 $5.5B · 6,888
- Factory Mutual Insurance Company Pension Plan $3.0B · 3,656
- Bell Helicopter Textron Master Retirement Plan $2.3B · 2,671
- Amica Pension Fund $1.7B · 2,172
- Cfg Pension Plan $1.2B · 2,962
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.
- GE Aerospace Pension Plan (OH) $19.0B · 9,637
- Northrop Grumman Pension Plan (VA) $18.8B · 12,678
- Lockheed Martin Corporation Salaried Employee Retirement Program (MD) $18.3B · 18,014
- IBM Personal Pension Plan (NY) $17.9B · 48,014
Frequently Asked Questions
How did The Bank of America Pension Plan assets move in 2024? ▼
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
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.