2577 employees reported this benefit
Bank of America offers a 401k plan.
This information about the 401K Plan benefit at Bank of America is the result of research by Glassdoor editorial staff, and was not provided directly by a representative of Bank of America. The description here may not reflect the current Bank of America 401K Plan benefit.
Great 401K plans offered. Before you now it, you have a sizable amount saved away with the company's matching program.
What's not to like? I enjoy losing all my savings overnight and worrying about affording my future studio apartment and rationing every basic need when retiring at age 82.
Who doesn't like free money? Everyone should invest at least enough to get 100% of the employer matching funds. You never miss the money you invest yourself, since it's pre-tax.
Perhaps this is due to the huge number of people who are forced to use this company. This amount is, of course, a huge profit for the company
Company match up to four percent
Companies matched 5% and more depends on tenure.
Great match after one year of employment
Matching up to 5% after 1 year working
Affordable and easy to enroll
Matching isn’t very attractive. Takes a few years to vest.