SAN DIEGO, CA -- (Marketwired) -- 05/29/13 -- BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 companies in the airline industry with the highest ranked 401k plans containing more than $100 million in assets. This is the fifth 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.
"In an industry with such a large number of employees, it is exponentially more important for workers and plan sponsors to be aware of their 401k plan quality," said Brooks Herman, Head of Research for BrightScope. "By offering tools like BrightScope's 401k Ratings tool and industry rankings, we insure both sides have a benchmark with which they can compare -- and potentially improve -- the very plans that impact the financial futures of so many."
Key statistics found on the list of airlines with the best 401k plans:
•Average account balance for plans listed is $188,664 •94.57% is the average participation rate for plans on the list •Average company generosity for plans listed is $9,430; the median is $8,173 •Average salary deferral for plans listed is $7,571; the median is $8,972
Top 25 airlines with the highest ranked 401k plan containing more than $100 million in assets:
Company - Plan Name - BrightScope Rating
1. Southwest Airlines Co. - Southwest Airlines Pilots' Retirement Savings Plan - 90.82
2. United Air Lines, Inc. - United Airlines Pilot Directed Account Plan - 89.17
3. Alaska Airlines, Inc. - Alaska Airlines, Inc. Pilots Investment & Savings Plan - 88.95
4. United Parcel Service Company - UPS/IPA Defined Contribution Money Purchase Pension Plan - 88.34
5. AirTran Airways, Inc. - AirTran Airways Pilot Retirement Savings and Investment Plan - 86.04
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