November 13, 2025 at 8:00 AM Eastern
B of A Launches four oh one k Pay: Comprehensive Solution Simplifies Retirement Income Management
New Digital Capabilities Modernize Retirement Planning and Payments for Plan Participants
NEW YORK, New York – Bank of America is launching four oh one k Pay, a unique new solution designed to simplify and conveniently convert four oh one k account assets into a retirement income. Available Novemberseventeenth at no incremental charge to the company’s corporate plan sponsor or plan participant clients, the new digital solution provides four oh one k recordkeeping, flexible deposit options and advice in a single centralized hub. This enables plan participants to easily set, deposit and track their income throughout retirement.
"four oh one k Pay was developed hand-in-hand with our corporate clients who wanted to offer their employees a retirement income solution," said Lorna Sabbia, Head of Workplace Benefits at Bank of America. "Including retirement income resources like four oh one k Pay as part of their workplace benefits offerings provides employers with the opportunity to improve financial outcomes for their employees and can help drive real business results – including helping to improve productivity, employee job satisfaction and retention.”
Available to Bank of America clients enrolled in the company’s employer-sponsored Personal Retirement Strategy program, four oh one k Pay fully integrates the necessary components of retirement income management, including:
Building upon the success of the company’s Personal Retirement Strategy program, four oh one k Pay is the next evolution in retirement planning, developed to address the concerns of both employees and employers. The recent twenty twenty five Bank of America Workplace Benefits Report (PDF) shows two key areas where employees say they need financial wellness resources are retirement education and planning (thirty six percent) and learning how to generate income in retirement (thirty three percent). [1]
"Retirement readiness and the ability to plan for income in retirement are top concerns among plan participants," said Tom Matarazzo, Managing Director, Institutional Retirement Advisory Programs & Financial Wellness Solutions. “four oh one k Pay is designed to help directly address participant concerns – from planning how much four oh one k income is needed in retirement to drawing on those funds appropriately – with a digital solution that is a leader in the marketplace."
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million consumer and small business clients with approximately 3,600 retail financial centers, approximately 15,000 A T Ms (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (N Y S E B A C) is listed on the New York Stock Exchange.
Don Vecchiarello, Bank of America
Phone: one nine eight zero three eight seven four eight nine nine
don.vecchiarello@bofa.com
MAP #8568812
[1]Bank of America twenty twenty five Workplace Benefits Report
Workplace Benefits is the institutional retirement and benefits business of Bank of America Corporation (“B of A Corp”) operating under the name “Bank of America.” Investment advisory and brokerage services are provided by wholly owned non-bank affiliates of B of A Corp, including Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "M L P F and S" or "Merrill"), a dually registered broker-dealer and investment adviser and Member S I P C. Banking activities may be performed by wholly owned banking affiliates of B of A Corp, including Bank of America, N.A., Member F D I C.
Personal Retirement Strategy is an online investment advisory program sponsored by Merrill Lynch, Pierce, Fenner & Smith Incorporated (“M L P F and S” or “Merrill”) that uses a probabilistic approach to determine the likelihood that participants in the program will accumulate sufficient total assets to achieve their annual retirement income goal. The recommendations provided by Personal Retirement Strategy may include a higher level of investment risk than a participant may be personally comfortable with. Participants are strongly advised to consider their personal goals, overall risk tolerance and retirement horizon before accepting any recommendations made by Personal Retirement Strategy. Participants should carefully review the explanation of the methodology used, including key assumptions and limitations, as well as a description of services and related fees, which is provided in the Personal Retirement Strategy Brochure (ADV Part 2A). It can be obtained through Benefits OnLine® or through the Retirement Benefits Contact Center.
Merrill offers a broad range of brokerage, investment advisory and other services. There are important differences between brokerage and investment advisory services, including the type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. It is important to understand the differences, particularly when determining which service or services to select.
IMPORTANT: The projections or other information shown in the Personal Retirement Strategy program regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Results may vary with each use and over time.
four oh one k Pay is a feature of P R S that uses a probabilistic approach to determine the likelihood participants can achieve a retirement income amount.
Investment products
| Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
November 13, 2025 at 8:00 AM Eastern
B of A Launches four oh one k Pay: Comprehensive Solution Simplifies Retirement Income Management
New Digital Capabilities Modernize Retirement Planning and Payments for Plan Participants
NEW YORK, New York – Bank of America is launching four oh one k Pay, a unique new solution designed to simplify and conveniently convert four oh one k account assets into a retirement income. Available Novemberseventeenth at no incremental charge to the company’s corporate plan sponsor or plan participant clients, the new digital solution provides four oh one k recordkeeping, flexible deposit options and advice in a single centralized hub. This enables plan participants to easily set, deposit and track their income throughout retirement.
"four oh one k Pay was developed hand-in-hand with our corporate clients who wanted to offer their employees a retirement income solution," said Lorna Sabbia, Head of Workplace Benefits at Bank of America. "Including retirement income resources like four oh one k Pay as part of their workplace benefits offerings provides employers with the opportunity to improve financial outcomes for their employees and can help drive real business results – including helping to improve productivity, employee job satisfaction and retention.”
Available to Bank of America clients enrolled in the company’s employer-sponsored Personal Retirement Strategy program, four oh one k Pay fully integrates the necessary components of retirement income management, including:
Building upon the success of the company’s Personal Retirement Strategy program, four oh one k Pay is the next evolution in retirement planning, developed to address the concerns of both employees and employers. The recent twenty twenty five Bank of America Workplace Benefits Report (PDF) shows two key areas where employees say they need financial wellness resources are retirement education and planning (thirty six percent) and learning how to generate income in retirement (thirty three percent). [1]
"Retirement readiness and the ability to plan for income in retirement are top concerns among plan participants," said Tom Matarazzo, Managing Director, Institutional Retirement Advisory Programs & Financial Wellness Solutions. “four oh one k Pay is designed to help directly address participant concerns – from planning how much four oh one k income is needed in retirement to drawing on those funds appropriately – with a digital solution that is a leader in the marketplace."
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million consumer and small business clients with approximately 3,600 retail financial centers, approximately 15,000 A T Ms (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (N Y S E B A C) is listed on the New York Stock Exchange.
Don Vecchiarello, Bank of America
Phone: one nine eight zero three eight seven four eight nine nine
don.vecchiarello@bofa.com
MAP #8568812
[1]Bank of America twenty twenty five Workplace Benefits Report
Workplace Benefits is the institutional retirement and benefits business of Bank of America Corporation (“B of A Corp”) operating under the name “Bank of America.” Investment advisory and brokerage services are provided by wholly owned non-bank affiliates of B of A Corp, including Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "M L P F and S" or "Merrill"), a dually registered broker-dealer and investment adviser and Member S I P C. Banking activities may be performed by wholly owned banking affiliates of B of A Corp, including Bank of America, N.A., Member F D I C.
Personal Retirement Strategy is an online investment advisory program sponsored by Merrill Lynch, Pierce, Fenner & Smith Incorporated (“M L P F and S” or “Merrill”) that uses a probabilistic approach to determine the likelihood that participants in the program will accumulate sufficient total assets to achieve their annual retirement income goal. The recommendations provided by Personal Retirement Strategy may include a higher level of investment risk than a participant may be personally comfortable with. Participants are strongly advised to consider their personal goals, overall risk tolerance and retirement horizon before accepting any recommendations made by Personal Retirement Strategy. Participants should carefully review the explanation of the methodology used, including key assumptions and limitations, as well as a description of services and related fees, which is provided in the Personal Retirement Strategy Brochure (ADV Part 2A). It can be obtained through Benefits OnLine® or through the Retirement Benefits Contact Center.
Merrill offers a broad range of brokerage, investment advisory and other services. There are important differences between brokerage and investment advisory services, including the type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. It is important to understand the differences, particularly when determining which service or services to select.
IMPORTANT: The projections or other information shown in the Personal Retirement Strategy program regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Results may vary with each use and over time.
four oh one k Pay is a feature of P R S that uses a probabilistic approach to determine the likelihood participants can achieve a retirement income amount.
Investment products
| Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
.jpg/_jcr_content/renditions/original){kind=logo}
