SOURCE: BrightScope

BrightScope

June 15, 2010 12:00 ET

BrightScope Names the Top 10 San Diego Area-Based Companies With the Highest Rated 401k Plans

Medical, Energy and Technology Companies in the Region Dominate the List, Including: Scripps Clinic Medial Group, Sempra Energy and Qualcomm Incorporated

SAN DIEGO, CA--(Marketwire - June 15, 2010) - BrightScope (www.brightscope.com), the leading independent provider of retirement plan ratings, today announced the Top 10 San Diego area-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.

"As a native of San Diego, I would like to extend my gratitude to companies on BrightScope's Top 10 List for offering the very best benefits to their local employees," said Mike Alfred, the CEO of BrightScope. "There is room for tremendous growth in the county as we currently have more than $50 million of available salaried jobs in the software industry alone. There is a great need of talented software developers and engineers such as the folks behind BrightScope, which has established itself as the industry standard 401k quality rating and a leader in San Diego's growing analytics cluster."

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

Company -- Plan Name -- BrightScope Rating (Rounded to the nearest whole number)

1. Anesthesia Service Medical Group, Inc. -- Anesthesia Service Medical Group, Inc. 401(k) Profit Sharing Plan -- 91

2. Scripps Clinic Medical Group, Inc. -- Scripps Clinic Medical Group, Inc. Retirement Savings Plan -- 88

3. Sempra Energy -- Sempra Energy Savings Plan -- 82

4. Qualcomm Incorporated -- Qualcomm Incorporated Employee Savings and Retirement Plan -- 81

5. San Diego Gas & Electric Company -- San Diego Gas & Electric Company Savings Plan -- 79

6. Cubic Corporation -- Cubic Corporation Employees' Profit Sharing Plan -- 77

7. Callaway Golf Company -- Callaway Golf Company 401(k) Retirement Investment Plan -- 74

8. Life Technologies Corporation -- Invitrogen 401(k) Savings and Investment Plan -- 74

9. Southern California Gas Company -- Southern California Gas Company Retirement Savings Plan -- 73

10. General Atomics -- General Atomics 401(k) Retirement Savings Plan -- 72

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 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. 

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 advisors 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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