Bank of America announced that its Personal Retirement Strategy program has surpassed $100 billion in total assets, with more than $10 billion of that total held in assets under management by Merrill Managed, the discretionary managed account solution within the program. The workplace retirement offering, launched in 2021, is designed for employees participating in institutional 401(k) plans and combines personalized planning, guidance and professional investment management. John Quinn, Managing Director of Workplace Benefits at Bank of America, said the milestones reflect the value employees place on personalized retirement guidance and the trust employers place in workplace benefits supporting financial wellness. Stacy Bucchere, also a Managing Director of Workplace Benefits, said surpassing $10 billion in managed account assets in just five years demonstrates growing demand for solutions that pair personalized advice with professional investment management. Bank of America also noted that its 2026 Workplace Benefits Report found 70% of respondents identified saving for retirement as their primary financial goal, and that it introduced 401k Pay last year as a retirement income solution within PRS.
Bank of America CorpBank of America's Personal Retirement Strategy surpassed $100 billion in assets, with over $10 billion in managed account assets, reflecting growing demand for its retirement solutions.
