Introduction
Bank of America Merrill Lynch
www.benefitplans.baml.comAssets ($MM) by Plan Type | ||||
---|---|---|---|---|
Ranked #7 | $220,504 | |||
401(k) | $164,336 | |||
403(b) | $0 | |||
457 | $0 | |||
NQDC | $10,682 | |||
All Other | $45,486 |
Participants by Plan Size | ||||
---|---|---|---|---|
Ranked #10 | 3,070,747 | |||
<$10MM | 33,605 | |||
$10MM – $50MM | 162,628 | |||
>$50MM – $200MM | 315,757 | |||
>$200MM – $1BMM | 489,537 | |||
>$1B | 2,069,220 |
Service Offerings | |
---|---|
New client restrictions | No 403(b) or 457 plans; no privately held company stock or public fund entities; minimum of 100 participants and $5 million in plan assets; |
Multiple service models | Yes |
Offers corporate trustee services | Yes |
Internal ERISA counsel | 6 |
Will act as §3(16) fiduciary | No |
Participant Services | |
---|---|
Call center hours | Weekdays: 8 a.m. - 7 p.m. ET |
Online chat support | Yes |
Mobile app | Yes |
Managed account options | Proprietary offering |
Retirement Income | |
---|---|
Displays retirement income estimate on statements | Yes |
Offers in-plan guaranteed retirement income products | No |
Offers out-of-plan annuity bidding service | No |
Recordkeeping Platform Proprietary system |
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*Data has been updated/revised since initial publication in PLANSPONSOR magazine. |