2023 Form 5500 filing — Bank Of America Group Benefits Program
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240926145428NAL0000937777001) for Bank Of America Group Benefits Program, reported by Bank Of America Corporation under EIN 56-0906609 and plan number 501. It reports 177,189 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240926145428NAL0000937777001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Bank Of America Corporation
- EIN
- 56-0906609
- Plan number
- 501
- Location
- Riverside, RI
- Participants
- 177,189
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $429,484,427
- Total liabilities (EOY)
- $297,955,176
- Net assets (EOY)
- $131,529,251
- Employer contributions
- $2,160,259,946
- Participant contributions
- $995,991,987
- Total income / additions
- $3,169,723,659
- Benefits paid
- $3,045,200,786
- Administrative expenses
- $153,562,651
- Total expenses
- $3,198,763,437
- Net increase / (decrease)
- -$29,039,778
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Blue Cross Blue Shield Of Georgia | NONE | $47,172,590 | not reported in the loaded dataset |
| Well Dot, Inc. | NONE | $25,605,239 | not reported in the loaded dataset |
| United Healthcare Insurance Co. | NONE | $22,847,688 | not reported in the loaded dataset |
| Aetna Life Insurance Company | NONE | $19,084,883 | not reported in the loaded dataset |
| Alight Solutions LLC | NONE | $12,225,630 | not reported in the loaded dataset |
| Sedgwick Claims Management Services | NONE | $9,124,922 | not reported in the loaded dataset |
| Cvs Pharmacy, Inc. | NONE | $6,225,087 | not reported in the loaded dataset |
| Virgin Pulse, Inc | NONE | $3,983,226 | not reported in the loaded dataset |
| Maven Clinic Co. | NONE | $3,326,300 | not reported in the loaded dataset |
| Quest Diagnostics | NONE | $2,368,794 | not reported in the loaded dataset |
| Merative Us L.P. | NONE | $863,981 | not reported in the loaded dataset |
| Mercer Hr Consulting | NONE | $169,412 | not reported in the loaded dataset |
| Health Strategy, LLC | NONE | $158,100 | not reported in the loaded dataset |
| Silverscript Insurance Company | NONE | $106,215 | not reported in the loaded dataset |
| Mcconnell & Jones Llp | NONE | $90,380 | not reported in the loaded dataset |
| Bank Of America Retirement Services | INTERNAL BANK DEPT. | $85,258 | not reported in the loaded dataset |
| Willis Towers Watson | NONE | $70,500 | not reported in the loaded dataset |
| Bank Of America Personnel Center | INTERNAL BANK DEPT. | $21,911 | not reported in the loaded dataset |
| Sun Life Assurance Co Of Canada | NONE | $11,154 | not reported in the loaded dataset |
| Pricewaterhousecoopers Llp | NONE | $9,000 | not reported in the loaded dataset |