SOURCE: BrightScope

April 21, 2010 09:00 ET

BrightScope Identifies Top 10 New York-Based Companies With the Best 401k Plans

Company to Issue Additional Top 10 401k Ratings Lists Nationwide

SAN DIEGO, CA--(Marketwire - April 21, 2010) -  BrightScope (www.brightscope.com), the leading independent provider of retirement plan ratings, today announced the Top 10 New York-based companies with the highest ranked 401k plans containing more than $100 million in assets. 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 important for the masses to understand how their 401k plan is performing, and that's why BrightScope is going to start rolling out top 10 lists in all the major markets across the United States," said Mike Alfred, CEO and co-founder of BrightScope. "BrightScope wanted to recognize these New York City based companies as they are focused on providing the best of the best when it comes to their 401k plan."

Top 10 New York-based companies with the highest ranked 401k plans containing more than $100 million in assets:

Company Plan Name Rating
  1. Board of Trustees I.U.O.E Local 14-14B Annuity Fund I.U.O.E Local 14-14B Annuity Fund 86
  2. OppenheimerFunds, Inc. OppenheimerFunds, Inc. Capital Accumulation Plan 84
  3. Skadden, Arps, Slate, Meagher & Flom LLP Skadden, Arps, Slate, Meagher & Flom Retirement Plan 84
  4. Securities Industry Automation Corporation Securities Industry Automation Corporation Employee Savings Plan 84
  5. BlackRock, Inc. BlackRock Retirement Savings Plan 83
  6. AllianceBernstein L.P. Profit Sharing Plan for Employees of AllianceBernstein L.P. 83
  7. Debevoise & Plimpton LLP Retirement Plan for Lawyers of Debevoise & Plimpton LLP 82
  8. Moody's Corporation Profit Participation Plan of Moody's Corporation 82
  9. Keefe, Bruyette & Woods, Inc. Keefe, Bruyette & Woods, Inc. Profit Sharing and Retirement Plan 82
  10. The McGraw-Hill Companies, Inc.
*Ranked No. 19 on BrightScope's Top 30 of 2009
The 401(k) Savings and PSP of The McGraw-Hill, Inc. and its Subsidiaries 82

BrightScope's 401k plan Rating was developed by BrightScope, Inc. with the help of leading academics and independent 401k fiduciaries. Analyzing more than 200 individual data points, the BrightScope Rating algorithm can calculate a single numerical score for each 401k plan in the country. The data points examined cover broad categories such as total plan cost, company generosity and investment menu quality.

BrightScope has rated more than 45,000 401k plans, spanning more than 30 million workers and over $2 trillion in assets. Industry adoption on 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. 

About BrightScope
BrightScope is committed to helping America's workforce retire in dignity. BrightScope is an independent data analytics firm that quantitatively rates 401k plans and gives employers, employees, and brokers tools to enhance plan performance and maximize retirement outlook. 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 401k plan quality at the company level. BrightScope-published ratings, rating definitions, criteria and methodologies are available on the company's public site, www.brightscope.com.

Contact Information

  • Korina Buhler
    Atomic PR for BrightScope
    415-593-1400
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