SAN DIEGO, CA -- (Marketwire) -- 02/26/13 -- BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 companies with the highest ranked 401k plans containing more than $100 million in assets in the finance and insurance sector. This is the second list in a new series that BrightScope will regularly issue to highlight the strongest plans within leading industries across the nation.
BrightScope obtains an increasing amount of its data directly from plan sponsors and record keepers, and augments these primary sources with data from publicly available sources such as the Department of Labor and the Securities and Exchange Commission. By analyzing and interpreting this data, BrightScope provides unprecedented transparency into the 401k industry.
"Financial services companies play a critical role in providing the investment and insurance products that deliver retirement outcomes for millions of ordinary Americans," said Mike Alfred, CEO and co-founder of BrightScope. "By offering robust 401k plans, these companies demonstrate their knowledge first-hand by promoting a promising financial future for their own employees."
Key statistics found on the list of finance and insurance companies with the best 401k plan:
•Average account balance for plans listed is $188,218 •96.85% is the average participation rate for plans on the list •Average company generosity for plans listed is $13,704; the median is $12,066 •Average salary deferral for plans listed is $10,514; the median is $10,081 •Thirteen of the plans on this list have immediate vesting, eight have graded vesting and the remaining four have cliff vesting
Top 25 finance and insurance companies with the highest ranked 401k plan containing more than $100 million in assets:
Company - Plan Name - BrightScope Rating
1.Wellington Management Company, LLP - Wellington Retirement and Pension Plan - 90.20
2. American Century Services, LLC - American Century Retirement Plan - 89.75
3. General Re Corporation - Employee Savings & Stock Ownership Plan of General Re Corporation and Its Domestic Subsidiaries - 89.39
4. Assured Guaranty Corp. - Assured Guaranty Corp. Employee Retirement Plan - 89.37
5. Dodge & Cox - Dodge & Cox Profit Sharing Plan & Trust - 89.24
6. Credit Suisse Securities USA LLC - Employees Savings and Retirement Plan of Credit Suisse - 88.31
7. IVZ, Inc. - Invesco 401(k) Plan - 87.44
8. TD Securities USA LLC - The TD Wholesale Banking USA 401(k) Plan - 87.39
9. William Blair & Company, LLC - William Blair & Company Deferred Profit Sharing Plan - 87.31
10. Davenport & Company, LLC - Davenport & Company, LLC Profit Sharing Plan - 87.28
11. D.E. Shaw & Company, L.P. - D.E. Shaw & Co., L.P. 401(k) Plan - 87.22
12. SVB Financial Group - SVB Financial Group 401(k) and Employee Stock Ownership Plan - 87.03
13. Jennison Associates, LLC - Jennison Associates Savings Plan - 86.67
14. Swiss Re America Holding Corporation - Swiss Re Group US Employees' Savings Plan - 86.65
15. Bessemer Trust Company - Bessemer Trust Company 401(k) and Profit Sharing Plan - 86.63
16. Allianz Global Investors of America L.P. - Allianz Global Investors of America L.P. 401(k) Savings and Retirement Plan - 86.59
17. Keefe, Bruyette & Woods, Inc. - Keefe, Bruyette & Woods, Inc. Profit Sharing & Retirement Plan- 86.32
18. OppenheimerFunds, Inc. - OppenheimerFunds, Inc. Capital Accumulation Plan - 86.18
19. Citadel LLC- Citadel LLC Retirement Savings Plan - 86.17
20. Arch Capital Group U.S., Inc. - Arch Capital Group U.S., Inc. Employee Retirement Plan - 86.11
21. Loomis, Sayles & Company, L.P. - Loomis, Sayles & Company, L.P. Employees' Profit Sharing Retirement Plan- 85.97
22. Natixis Global Asset Management, L.P. - 401(k) Savings and Retirement Plan sponsored by Natixis Global Asset Management, L.P. - 85.88
23. UBS AG - UBS Savings and Investment Plan - 85.85
24. X.L. America, Inc. - X.L. America, Inc. Employee Savings Plan - 85.84
25. Lord Abbett & Co. LLC - Lord Abbett 401(k) Retirement Plan - 85.79
The BrightScope Rating was developed by BrightScope, Inc. with the help of leading academics and independent 401k fiduciaries. By analyzing more than 200 individual data points, the BrightScope Rating algorithm calculates a single numerical value for each 401k plan. The data points examined cover broad categories such as total plan cost, company generosity and investment menu quality.
BrightScope has rated nearly 50,000 401k plans, spanning more than 30 million workers and over $2 trillion in assets. Industry adoption of the BrightScope Rating will lead to more cost-effective plans, increased participation rates, higher employee satisfaction and better outcomes for the 60 million employees who depend on their 401k plan for retirement.
BrightScope is a financial information company that brings transparency to opaque markets through independent research and analysis. Delivered through web-based software, BrightScope data drives better decision-making for individual investors, corporate plan sponsors, asset managers, broker-dealers, and financial advisors. The BrightScope Rating, developed in partnership with leading independent 401k fiduciaries, reviews more than 200 unique data inputs per plan and calculates a single numerical score which defines plan quality at the company level. In April 2011, the company launched BrightScope Advisor Pages, the first comprehensive and publicly available directory of financial advisors designed to help consumers discover information and conduct due diligence on wealth management professionals. BrightScope also markets a suite of data analytics software products to Fortune 1000 companies, asset managers, broker-dealers, financial advisors, and other market participants. Public ratings for more than 46,000 retirement plans as well as rating definitions, criteria and methodologies, and information on nearly 600,000 financial advisors and nearly 40,000 advisory firms are available for free at www.brightscope.com.
Atomic PR for BrightScope
Most Popular Stories
- Study: Recessions Can Postpone Motherhood Forever
- Hispanic Entrepreneurs Short-changed in Texas
- Hispanics Carry Big Clout: Census
- Washington's 'The Equalizer' Debuts With $35 Million
- Effort to Oust Assad Put on Hold
- Qantas Puts World's Largest Plane on Longest Route
- Los Angeles Set to Host Small Business Summit
- Chicago Flight Delays: Questions Answered
- White House Intruder Got Farther Than Reported
- Jeb Bush: GOP Senate Would 'Fix a Few Things'