Walmart is sticking with Bank of America's Merrill Lynch unit to run its $18 billion 401(k) program. Earlier this year, the Bentonville, AR-based retailer put its retirement plan — the largest private plan in the U.S., with 1.2 million participants — up for review.
The average Walmart employee has about $18,000 in their retirement account, according to BrightScope. While that's much smaller than the U.S. average of about $84,000 as of the end of 3Q 2013, the size of Walmart's plan makes it one of the most coveted clients in the retirement industry.
