SOURCE: BrightScope

BrightScope

December 17, 2013 08:00 ET

BrightScope Announces Its Fifth Annual Year-End Top 30 401k Plans List

Newcomer Savings Board of the NFL Player Second Career Savings Plan Takes This Year's Top Spot, Bumping Last Year's Leader Marathon Oil Company All the Way to No. 20

SAN DIEGO, CA--(Marketwired - Dec 17, 2013) - BrightScope (www.brightscope.com), the leading provider of independent retirement plan ratings and investment research, is proud to announce the fifth annual BrightScope Year-End Top 30 Ratings List covering 401k plans with more than $1 billion in assets. BrightScope obtains an increasing amount of its data directly from plan sponsors and recordkeepers, 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 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.

"Each year since our founding, we have released a Year-End Top 30 Ratings list to highlight the very best 401k plans in the country. This year is no different," says Mike Alfred, CEO and co-founder of BrightScope. "The beauty of the BrightScope Rating is that it is entirely quantitative. It is not a survey or political contest. The elite 401k plans on this list only appear there because they are highly likely to deliver their respective plan participants to a secure and dignified retirement."

Key Statistics of BrightScope's 2013 Top 30 List:

  • Target Date Funds make inroads. Last year, 4.9% of Top 30 Plans' assets were in a Target Date Fund; this year 5.4% of plan assets are in target date funds.
  • Index Funds growth continues. Index funds account for 33% of assets in the Top 30 Plans year, up 4 basis points compared to last year.
  • Plans within the 2013 Top 30 list average over $12,500 in salary deferrals per participant, down a bit from $12,700 in 2012.

Noteworthy findings in the 2013 Year-End Top 30 401k Plans List include:

The entire list of the 2013 Top 30 401k Plans with more than $1 billion in assets:

                 
2013 Rank   2012 Rank   Plan Name   U.S. Headquarters   BrightScope Rating™
1   N/A   NFL Player Second Career Savings Plan   Baltimore, MD   91.13
2   2   The Savings Plan of Saudi Arabian Oil Company   Houston, TX   90.73
3   3   Southwest Airlines Pilots' Retirement Savings Plan   Dallas, TX   90.55
4   4   Wellington Retirement and Pension Plan   Boston, MA   90.35
5   N/A   United Airlines Pilot Directed Account Plan   Chicago, IL   89.92
6   5   Amgen Retirement and Savings Plan   Thousand Oaks, CA   89.47
7   N/A   Novartis Corporation Investment Savings Plan   New York, NY   88.59
8   10   Bristol-Myers Squibb Company Savings and Investment Program   New York, NY   88.32
9   9   Southern California Permanente Medical Group Retirement Plan   Pasadena, CA   87.68
10   20   Anadarko Employee Savings Plan   The Woodlands, TX   87.65
11   13   Bayer Corporation Savings and Retirement Plan   Pittsburgh, PA   87.55
12   11   Google Inc. 401k Savings Plan   Mountain View, CA   87.33
13   12   ExxonMobil Savings Plan   Houston, TX   87.24
14   7   Employees Savings and Retirement Plan of Credit Suisse   New York, NY   87.06
15   16   Chevron Employee Savings Investment Plan   San Ramon, CA   87.00
16   14   IBM 401(k) Plus Plan   Armonk, NY   86.97
17   22   BP Employee Savings Plan   Houston, TX   86.89
18   N/A   AstraZeneca Savings and Security Plan   Wilmington, DE   86.88
19   19   Ernst & Young Partnership Retirement Plan   Secaucus, NJ   86.80
20   17   BASF Corporation Retirement Savings Plan   Florham Park, NJ   86.75
21   28   Bechtel Trust & Thrift Plan   San Francisco, CA   86.58
22   N/A   Federal Home Loan Mortgage Corporation Thrift/401(k) Savings Plan   Mclean, VA   86.43
23   23   Shell Provident Fund   Houston, TX   86.29
24   1   Marathon Oil Company Thrift Plan   Houston, TX   86.23
25   N/A   Delta Pilots Defined Contribution Plan   Atlanta, GA   86.23
26   24   UBS Savings and Investment Plan   Stamford, CT   86.23
27   29   GlaxoSmithKline Retirement Savings Plan   Philadelphia, PA   86.01
28   N/A   EFH Thrift Plan   Dallas, TX   85.84
29   21   Cisco Systems, Inc. 401(k) Plan   San Jose, CA   85.84
30   N/A   Caterpillar 401(k) Savings Plan   Peoria, IL   85.73
                 
                 

The company has rated more than 46,000 retirement plans, spanning 30 million workers and $2 trillion in assets, and provided information on more than 770,000 financial advisors. 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. 

For more information please visit www.brightscope.com

About BrightScope

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 more than 46,000 retirement plans as well as rating definitions, criteria and methodologies, and information on more than 770,000 financial advisors and nearly 45,000 advisory firms are available for free at www.brightscope.com.