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Over 10 Million BofA Clients Use Life Plan to Pursue Financial Goals Through Personalized Digital Experience

Available within the mobile app and online, Life Plan users add more than $55 Billion to BofA accounts in two years CHARLOTTE, N.C., March 29, 2023 /PRNewswire/ -- Bank of America today announced that more than 10 million clients have used Life Plan&re...
United States Billionto Bof Randy Aldridge David Tyrie America Corporation America Institute

Automatic Retirement Savings—Paving the Path to Personal Financial Security

Savings plans offered by employers are a good way to save for retirement, and most Americans enroll in them at some point. But unless enrollment is automatic, that point is often too late in the workerโ€™s life to build up a sum large enough for a comfortable retirement. Currently, about a quarter of all employees end up with a retirement income so low that they are completely dependent on Social Security. Studies show that workers who are automatically enrolled in 401(k) or similar plans start ...
United States Employee Benefit Research Institute Social Security Enrollment Helps Workers Escalation Ensures Workers Save

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