bank of america skyscraper and bank of america logo Bank of America headquarters inCharlotte, North Carolina. (Photo: AP)

Retirement savers in 401(k) plans administered by Bank ofAmerica will have access to a new suite of banking and investmentbenefits.

The U.S.'s second largest bank by assets, according to S&PGlobal Market Intelligence, also administers 30,000 retirementplans. The 5.6 million participants in the mostly large and mega planswill have access to retail banking options and reduced fees onmortgages if their employers opt to offer the benefits.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.