At Bank of America, our work is defined by an unmatched commitment to our customers and our associates. We are proud of the excellence we achieve and the associates who make it possible. That's why we think it is important to provide premier benefits including health, life management, and retirement benefits that work together to support associates now and for the future.
Performance-based compensation
In addition to strong base compensation, bonuses and incentive programs are important parts of our overall compensation package.
- We offer a choice of medical, dental and vision plans that will provide you and your family (including domestic partners) with high-quality healthcare. We pay a majority of the cost for associate medical coverage.
- Our range of insurance plans provides income replacement in the event of serious injury or death.
- We offer flexible spending accounts for healthcare and dependent care, as well as bank-funded healthcare accounts for eligible associates.
Our comprehensive Life Management programs are designed to assist associates with many of life's challenges and opportunities by providing benefits such as:
- Programs to help with locating and paying for dependent care
- Adoption reimbursement
- Flexible work arrangements
- Tuition reimbursement
- Support through our LifeCare® and Employee Assistance Programs
- Auto & Home insurance
We offer a 401(k) retirement savings plan with a company match after one year of service for contributions up to 5% of plan-eligible compensation, a company-funded pension plan, and our Rewarding Success Program, which rewards eligible associates for their contributions to the company's success.
Bank of America also provides a dedicated Associate Banking & Investments team, assistance with associate home ownership, and multiple programs to support our associates' commitment to volunteerism, charitable giving and education.
Not all associates are eligible to participate in all benefit programs. The terms and conditions of the benefits described above may be governed by written benefit plans and/or other documents. The above stated description of benefits is intended as a summary and for informational purposes only; this document does not create a contract between the company and any associate or potential associate. All programs and benefits are subject to change at any time.