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
7. The MathWorks, Inc. - The MathWorks, Inc. 401(k) Retirement Plan - 84.84
8. SAS Institute Inc. - SAS Retirement Plan - 84.80
9. Los Alamos National Security, LLC - LANS 401(k) Retirement Plan - 84.65
10. BMC Software, Inc. - BMC Software, Inc. Savings and Investment Plan - 83.82
11. Microsoft Corporation - Microsoft Corporation Savings Plus 401(k) Plan - 83.42
12. Brocade Communications Systems, Inc. - Brocade Communications Systems, Inc. 401(k) Plan - 83.31
13. Ariba, Inc. - Ariba, Inc. Employees' 401(k) Savings Plan - 83.19
14. Synopsys, Inc. - Synopsys 401(k) Plan - 83.11
15. Oracle Corporation - Oracle Corporation 401(k) Savings and Investment Plan - 82.91
16. CA Technologies, Inc. - CA Savings Harvest Plan - 82.81
17. Adobe Systems Incorporated - Adobe Systems Incorporated 401(k) Retirement Savings Plan - 82.58
18. Software AG USA, Inc. - Software AG USA, Inc. Profit Sharing Plan - 82.53
19. CedarCrestone, Inc. - CedarCrestone 401(k) Plan - 82.44
20. Kronos Inc. - Kronos Incorporated Retirement Savings Plan - 82.39
21. MSC Software Corporation - MSC Software Corporation Retirement Plan - 82.36
22. Tenaska Inc. - Tenaska Retirement Plan - 82.19
23. Bull HN Information Systems, Inc. - Bull HN Information Systems, Inc. Investment Plus Plan - 82.09
24. Wind River Systems, Inc. - Wind River Systems, Inc. 401(k) Plan - 82.00
25. Elekta Holdings U.S., Inc. - Elekta Holdings U.S., Inc. 401(k) Savings Plan - 81.71
The companies on this list were categorized in the "technology industry" based on self-reported NAICS codes that include: 5419, 5112, 5415, 5191.
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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