Financial Life Benefits®

Life can be complex, with constantly changing priorities. Employees have a wide range of financial needs. We can help. 

 

Financial Life Benefits® is a holistic solution paired with individualized guidance that goes beyond traditional benefits to provide more of what employees need to manage their day-to-day finances and prepare for the future — whether it’s creating a budget, saving for health care or planning for a steady stream of income in retirement. 

 

What makes Financial Life Benefits especially powerful is its unique high-tech, high-touch approach that seamlessly connects employees to individualized experiences and the extensive resources of our entire organization to help them take next steps toward their goals. 

 

Whether you participate in one or more of our integrated benefits, both you and your employees can get the full value of Financial Life Benefits with access to insights and resources from across our organization that support diverse and broad financial needs. 

 

Watch our digital innovation video to see what’s next for employee benefit experiences

Retirement plans

Employer-sponsored retirement plans, like 401(k)s, have taken on a primary role in how employees are investing for their future. Creating a plan that works for them can be a big responsibility, and we’ll guide you every step of the way. For those managing pension plans, our flexible approach helps ensure that you have a program aligned to the goals of your company and your employees. And with our guidance on nonqualified deferred compensation plans, you’ll have the tools you need to help you attract and retain highly compensated employees.

 

Explore the range of retirement benefits plans and solutions that we have to offer and let us put our experience to work for you and your employees.

 

  • Defined contribution
  • Defined benefit
  • Institutional trust and custody
  • Nonqualified deferred compensation

 

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Health benefit solutions

With health benefit solutions from Bank of America, employers have a single provider of account-based benefits, allowing clients more time to manage and grow their business, while spending less time on administration. We can help enable your employees to take charge of their healthcare costs. With our holistic view of benefit plans and an artificial intelligence platform that delivers insights and education, we make it easy for employees to stay engaged.

 

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Equity compensation plans

Offering an equity compensation plan can help to attract and retain employees and we can help them understand and appreciate the value of their awards.

 

We have the experience, technology and personal service to:

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Provide personalized education and guidance

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Help to simplify and streamline complex recordkeeping

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Help manage compliance and mitigate risk

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Employee banking and investing

The Employee Banking1 and Investing2 Program is designed especially for our most important corporate clients and their employees, with banking solutions from Bank of America and investing solutions from Merrill. When you participate in the Employee Banking and Investing program, your employees get a special bundle of no-fee banking services by setting up a company payroll direct deposit into an existing or new eligible personal Bank of America® checking or savings account.

 

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Executive services

Specialized advisors can help the executives within your company navigate their complex wealth planning needs. We offer tailored wealth management solutions, from more sophisticated banking and investing solutions to trust and estate planning services, with a flexible, customized approach. For publicly-traded companies, we can help your executives manage the complexity associated with equity compensation.

 

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Financial wellness for employees

We help employees at all levels maximize their benefits, and pursue their financial goals with the education, resources and guidance that fits their needs. Backed by insights into what matters to employees, our high-tech and high-touch solutions make financial wellness personal and actionable, at every life stage and as needs change and evolve.

 

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Explore more

Financial Life Benefits® is a holistic solution paired with personalized guidance that goes beyond traditional benefits to provide more of what employees need to manage their day-to-day finances and prepare for the future — whether it’s creating a budget, preparing for emergencies, saving for health care or planning for a steady stream of income in retirement.

Holistic focus

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Groundbreaking research on menopause reflecting the voices of women employees, as well as the perspective of HR benefit managers, both men and women.

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Connect with a team member today.

See how we can help elevate your benefits program and empower your employees' financial lives.

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1The bundle of no-fee banking services is available on qualified checking or savings accounts. A qualified account is an existing or new eligible personal Bank of America checking or savings account receiving a participating Company payroll direct deposit. These banking benefits will be applied within 60 days following Bank of America’s identification of your Company payroll direct deposit into your eligible account.

2Investment products are offered through Merrill Lynch, Pierce, Fenner & Smith Incorporated.