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Retirement Benefits
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Bank of America offers multiple plans designed to help you reach your future financial goals and plan for retirement. 401(k) PlanA tax-deferred retirement savings plan, including 100% vested matching contributions from the company up to 5% of your plan-eligible compensation after completing 12 months of vesting service. Pension PlanProvides a benefit through an account that is credited with company-paid compensation credits and interest credits. Rewarding Success Program®Rewards eligible associates for their contributions to the company's success. If the company meets or exceeds an annual financial target, associates receive an award which will be automatically deferred to the 401(k) plan, subject to IRS limits, unless they elect to receive some of or the entire award in cash. 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. Other Programs: Your Finances, Community Commitments, and Education |
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