[PDF] Annual Report 2020 Mar 1 2021 and investing

Who is eligible to retire from Bank of America?

Eligibility: U.S.-based full-time or part-time employees actively employed by Bank of America Corporation or its subsidiaries. Retirees with at least 10 years of vesting service, 1 and their age plus years of vesting service 1 equal to at least 60 (with no minimum age requirement)

What is the rule of 60?

Support for employees who meet the rule of 60 and are leaving the company within 60 calendar days Support for employees and retirees who experience the death of a dependent, or for family members of an employee or retiree who passes away

Who is considered a full-time employee of Bank of America?

U.S.-based full-time or part-time employees actively employed by Bank of America Corporation or its subsidiaries. Retirees with at least 10 years of vesting service, 1 and their age plus years of vesting service 1 equal to at least 60 (with no minimum age requirement)

How long can a retirement plan be delayed?

For administrative reasons, your participation may be delayed up to 6 months after you meet these age and service criteria, or until the start of the next plan year, whichever is sooner. The plan year is the calendar year, or an alternative 12-month period, that a retirement plan uses for plan administration.