Bank of America Corp. former Chief Executive Ken Lewis retired at the end of last year with a total of $83.6 million in compensation and benefits, according to a regulatory filing.
The bulk of Lewis’ takeaway — about $57 million — is a pension plan funded during his tenure at the Charlotte, NC, bank. Lewis also takes with him another $13.6 million in stock awards, along with a $10.3 million life-insurance benefit that is payable after the deaths of both Lewis and his wife.
Scott Silvestri, a spokesman for the bank, said Lewis was unavailable to comment.
Lewis’s tenure ended in 2009 after he faced scrutiny from shareholders, regulators and lawmakers over his handling of Bank of America’s 2009 purchase of Merrill Lynch & Co. Kenneth Feinberg, the US Treasury’s special master for compensation, demanded last year that Lewis forgo a salary because Feinberg was concerned about the size of Lewis’ retirement benefits and other stock awards.