SAN DIEGO, CA -- (Marketwired) -- 04/30/13 -- BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 companies in the technology industry with the highest ranked 401k plans containing more than $100 million in assets. This is the fourth list in a new series where BrightScope highlights 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.
"The technology industry is extremely competitive, which means it is vital for companies and employees to know the quality of their 401k plan as well as what fellow tech leaders are offering to see how they stack up," said Brooks Herman, Head of Research for BrightScope. "A competitive landscape is good for everyone as long as it fosters strong financial futures, which is where tools like BrightScope and these ranked lists help -- giving people easy access to the information needed to make smart financial decisions."
Key statistics found on the list of technology companies with the best 401k plans:
•Average account balance for plans listed is $111,063 •92.73% is the average participation rate for plans on the list •Average company generosity for plans listed is $5,708; the median is $5,435 •Average salary deferral for plans listed is $11,087; the median is $11,596
Top 25 technology companies with the highest ranked 401k plan containing more than $100 million in assets:
Company - Plan Name - BrightScope Rating
1. Google Inc. - Google Inc. 401(k) Savings Plan - 86.99
2. IBM (International Business Machines) - IBM 401(k) Plus Plan - 86.71
3. Thales-Raytheon Systems Co., LLC - Thales-Raytheon Systems Savings and Investment Plan - 86.59
4. Lawrence Livermore National Security LLC - LLNS 401(k) Retirement Plan - 86.50
5. SPARTA, Inc. - SPARTA, Inc. Profit Sharing Plan - 85.71
6. Yahoo! Inc. - Yahoo! Inc. 401(k) Plan - 85.54
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