The Bank of America relationship advantage.
You and your employees deserve the best retirement planning products and
services available. Bank of America and its affiliates take dedication to service one step
further by a commitment to building relationships.
By focusing on client needs, Bank of America:
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Has become the largest small-business lender in the United States
Has become the national leader in corporate banking relationships and
lending volume
Has become a choice of 95% of Fortune 500 companies for their corporate finances
Has established relationships with more than two million business clients
Has more than $450 billion in investment assets managed by its affiliates
Proven recordkeeping and implementation services
Bank of America wants you and your employees to receive high-quality plan
services. With hundreds of financial service organizations to choose from, selecting
one for your 401(k) plan can be a challenge. With the Bank of America 401(k), you will
get the plan implementation and recordkeeping services of ADP, Inc. (ADP).
With over 50 years of experience in the data processing industry, ADP is a well
known provider of essential employer services to some of the most well-known names
in American business. Today, ADP services over 31,000 401(k) plans and more than 1.1
million participant accounts.
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Support services
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Plan installation coordinated by a national team of 401(k) specialists
Toll-free access to a 401(k) client team for plan administrators
Toll-free participant voice-response system available in English and Spanish
Easier-to-read, easier-to-understand employee education material
Onsite enrollment meeting conducted by professional enroller
Quarterly, graphical participant statements mailed directly to
participant’s home
Participant account access via the Internet
Online prospectuses, retirement and investment education
Quality investment choices
Mutual funds covering a wide range of investment objectives and styles, managed
by experienced money managers
Investment funds representing all major asset classes
Specialized plan services
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Safekeeping of plan assets
Fidelity bond coverage for plan service providers
Investment of plan assets according to participants’ directions
Distribution of loans and withdrawals to participants
Preparation and submission of IRS Form 1099-R to participants and the IRS
Preparation of Schedule P for IRS Form 5500 reporting
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Data as of December 31, 2003.
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Data as of June 30, 2003.
Convenience and flexibility.
With the Bank of America 401(k), you can receive a wide range of services that may
represent the qualities that may matter most: convenience, flexibility and cost
effectiveness — all in one comprehensive solution. The Bank of America 401(k) is a
seamless package that offers the ability to establish a new plan or convert an existing one.
Plan design
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Prototype plan documents, preapproved by the IRS
Flexible eligibility requirements and vesting schedules
Compliance testing and reporting
Safe Harbor alternative available
Advanced recordkeeping
Daily account valuation
Daily investment transfers
Monthly executive summary of plan activity
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Services provided by ADP, Inc.,
which is not affiliated with
Bank of America or its
subsidiaries.
Payroll data
collection expertise
The Bank of America
401(k) provides complete
payroll integration if you
have ADP payroll services
— or flexible data collection
software if you use another
payroll provider.
The Bank of America
401(k) conversion
advantage
A dedicated conversion
team helps ease the switch to
the Bank of America 401(k).
The team will help you and
your prior recordkeeper
through the step-by-step
conversion process to aid in
a smooth transition.
Your choice of diverse funds.
The Bank of America 401(k) offers a wide range of mutual funds, from conservative
to aggressive, to meet a variety of financial needs. To help in simplifying the decision
of which funds to include in your plan, the Bank of America 401(k) offers a number of
investment styles. Each investment style can allow participants to help in fulfilling
their diverse investment objectives. Please consult the portfolio sheets accompanying
this brochure.
A DIVERSE ME NU O F CH OICES
Fund choices representing all major asset classes
Asset Allocation Fund — a number of blended choices covering the spectrum of investing from
conservative to moderate to aggressive
Additional choices including sector, income and international funds,
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offering the potential for
increased diversification
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