Top ranked in employee statement communications

Bank of America’s defined contribution statement ranked #1 for the 11th year in a row in DALBAR’s 24th Annual Trends & Best Practices in Investor Statements. This DALBAR recognition acknowledges how we are succeeding in delivering personalized, user-friendly statements to help employees.

 

Defined contribution statement

  • 1st place out of 31 providers — 11th year in a row.
  • Scored 90.90 points — 22.90 points above the benchmark.
  • Rated “Excellent” overall for 16 consecutive years.
  • Rated “Excellent” designation in the categories of calculated to be understood, content, and design and format.
  • Ranked #1 in the categories of calculated to be understood and statement content.

 

Total retirement statement

  • Ranked #1 overall — 3rd year in a row.
  • Scored 88.05 points — 12.83 points above the industry average.
  • Ranked #1 in the categories of content, and design and format.
Dalbar seal for 2022 Communication Excellence

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For the year ending 2021, DALBAR, Inc. examined defined contribution (DC) statements from 31 financial service providers, and total retirement (TR) statements from 5 financial service providers. Statements are scored on a 100-point scale in criteria grouped into four broad categories: Calculated to be Understood (Statement Clarity), Primary Content and Secondary Content (Statement Content), and Design and Statement Formats (Statement Design). Statements that earn 80-100 points are designated “excellent.” Statements that earn 70-79 points are designated “very good.” The DC statement earned a score of 90.90, the highest awarded in its category. The TR statement earned a score of 88.05, the highest awarded in its category. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.