This year, the use of digital channels and tools has been as important as ever in helping employees make the most of their benefits and keep their financial goals on track. And, with the introduction of even more powerful and personalized digital solutions, we are working to help make it easier for employers and employees to make informed decisions and take action. You’ve asked for them—employees will benefit from them—and, new digital enhancements are here, with more on the way. Here are a few highlights:
Benefits OnLine® (BOL) reflects a new design offering expanded capabilities and more personalized experience.
This contemporary and streamlined BOL helps make it easy for employees to manage their workplace benefit accounts. It leverages smart functionality to offer personalized insights and visuals. Expanded planning and guidance tools help employees identify steps to consider as part of their short-, mid- and long-term plans.
And for equity awards specifically, the redesigned BOL experience offers new transactional capabilities to help employees conveniently manage their awards end to end. Modeling capabilities, reminders and alerts, and on-the-go access help participants optimize their equity awards.
Read the flyer to learn more about the new equity features on BOL.
My Financial Picture—all accounts in one place.
My Financial Picture is a free service that allows participants the ability to consolidate virtually all of their financial information in one secure online location on BOL. In addition to Merrill and Bank of America accounts, participants can link account information from other financial institutions to help get a more complete picture of their financial status, plan a budget and understand their net worth.
For illustrative purposes only.
Education Center takes on a new look.
Informed by user feedback, the Education Center will be redesigned to streamline and simplify the experience, helping employees quickly identify relevant information. Content is organized into five key financial categories, aligned to financial wellness pillars: Budgeting and debt management, planning for the unexpected, retirement and investing, life events, as well as company stock education. Each page is grouped into sections where employees can find articles, seminars, videos and tools. Featured articles and content are prioritized by readership metrics, trends and what’s new, with the ability to expand to show all content.
New flexible and dynamic reporting platform for 401(k) plan sponsors.
Designed to help 401(k) plan sponsors more easily manage their plans, a new dynamic dashboard offers customizable, flexible and filterable reports with a drag-and-drop capability. It includes drill-down reports on key performance indicators, trends and multiple analytical views, all within an intuitive interface with predictive search functions. The reporting dashboard also offers access to historical data and “as-of” reports, and integrates with financial wellness reporting. Capabilities will continue to expand, and until the library is fully built, you can access the report you need via “classic” reports.
Enhanced online library of ready-to-go employee communications.
Access to an expanded online library of ready-to-go employee communications can help you build a robust benefits and financial wellness education program. From html emails and brochures to videos and posters, the new Employee Communications Center features resources on all workplace benefit products and is designed to help employees learn, plan and take action.
Talk with your Bank of America representative for more detail and to schedule a demo.
Promote digital adoption with your employees to help them maximize the convenience of all they can do online.
Screen shots are provided for illustrative purposes only. Any new products, services, enhancements and release dates are subject to change based solely on Bank of America decision, including not proceeding with a planned offering.