SOURCE: BrightScope

BrightScope

June 22, 2010 12:00 ET

BrightScope Recognizes the Top 10 Phoenix Area-Based Companies With the Highest Rated 401k Plans

US Airways, Inc., Avnet, Inc., RSC Equipment Rental, Inc. and Banner Health Are Just Some of the Companies Topping the List

SAN DIEGO, CA--(Marketwire - June 22, 2010) -  BrightScope (www.brightscope.com), the leading independent provider of retirement plan ratings, today announced the Top 10 Phoenix 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.

"We continue to announce the Top 10 companies in various markets because we are committed to help employers and employees from large to small businesses establish and maintain a healthy retirement plan," said Mike Alfred, CEO and co-founder of BrightScope. "Whether you are 55 or 25 it's never too late to focus on the big picture of retirement." 

Top 10 Phoenix 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. ON Semiconductor Corporation -- ON Semiconductor 401(k) Plan -- 82

2. US Airways, Inc. -- Retirement Savings Plan for Pilots of US Airways, Inc. -- 80

3. Snell & Wilmer L.L.P. -- Snell & Wilmer Profit Sharing and Savings Plan -- 78

4. Pinnacle West Capital Corporation -- The Pinnacle West Capital Corporation Savings Plan -- 77

5. Salt River Valley Water Users Association -- The Salt River Project Employees 401(k) Plan -- 76

6. Freeport-McMoran Corporation -- Phelps Dodge Employee Savings Plan -- 74

7. Avnet, Inc. -- Avnet 401(k) Plan -- 68

8. Services Group of America, Inc. -- Services Group of America Retirement Plan -- 68

9. RSC Equipment Rental, Inc. -- RSC 401(k) Savings Plan -- 67

10. Banner Health -- Banner Health System 401(k) Plan -- 67

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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