SAN DIEGO, CA -- (Marketwired) -- 06/25/13 -- BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 15 organizations in the sports industry with the highest ranked 401k plans containing more than $25 million in assets. This is the sixth 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.
"It's easy to see our favorite athletes and sports teams on television and not relate to them as employees of their respective organizations with retirement plans, just like you and me," said Brooks Herman, Head of Data and Research for BrightScope. "However, saving for the future is still very important even for members of public and popular organizations like these. We recognize these high quality plans to inspire other companies to put more effort into improving the quality of their plans in order to provide a winning financial future to employees."
Key statistics found on the list of sports organizations with the best 401k plans:
•Average account balance for plans listed is $91,933 •88.89% is the average participation rate for plans on the list •Average company generosity for plans listed is $8,343; the median is $1,910 •Average salary deferral for plans listed is $6,784; the median is $5,467
Top 15 sports organizations with the highest ranked 401k plan containing more than $25 million in assets:
Company - Plan Name - BrightScope Rating
1. National Basketball Association - NBA-NBPA 401K Savings Plan - 91.91
2. United States Member Clubs of the National Hockey League - National Hockey League Pension Plan for Players of United States Member Clubs - 90.46
3. Pension Committee of MLB Players Benefit Plan - Major League Baseball Players Investment Plan - 90.00
4. Board of Trustees of the National Hockey League Players' Pension Plan - National Hockey League Players' Pension Plan - 87.25
5. Savings Board of the NFL Player Second Career Savings Plan - NFL Player Second Career Savings Plan - 83.36
6. National Basketball Association - NBA Retirement Plan - 81.52
7. Major League Baseball Office of the Commissioner - Major League Baseball 401(k) Plan and Trust - 80.91
8. National Football League - NFL Pension Plan - 76.48
9. National Hockey League - National Hockey League Savings Plan for National Hockey League/NHL Enterprises Employees - 76.47
10. National Football League - The National Football League Capital Accumulation Plan - 71.75
11. Joe Gibbs Racing, Inc. - Joe Gibbs Racing 401(k) Savings Plan - 69.60
12. Speedway Motorsports, Inc. - Speedway Motorsports, Inc. 401(k) Plan and Trust - 64.55
13. Penske Racing South, Inc. - Performance Group 401(k) Retirement Savings Plan - 63.59
14. Anschutz Entertainment Group, Inc. - Anschutz Entertainment Group, Inc. 401(k) Plan - 61.91
15. New York Racing Association, Inc. - The 401(k) Plan of the New York Racing Association, Inc. - 59.72
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 and 403b plans, spanning more than 57 million workers and over $3 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 nearly 50,000 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
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