SOURCE: BrightScope

BrightScope

December 14, 2010 05:00 ET

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

Southwest Airlines Co., Amgen Inc., Credit Suisse Securities USA LLC, Bayer Corporation, BP Corporation North America Inc., Avaya, Inc., UBS AG, IBM and Federal Express Corporation Improve Rank Since 2009

SAN DIEGO, CA--(Marketwire - December 14, 2010) - BrightScope (www.brightscope.com), the leading provider of independent retirement plan ratings and investment research, is proud to announce the second 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. Analyzing more than 200 individual data points, the BrightScope Rating algorithm calculates 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.

"The average BrightScope Rating on 2010's Top 30 401k Plans List has increased by nearly two points over last year's list as equity markets recover and increasingly sophisticated plan sponsors gain access to better tools and information with which to make more targeted improvements to their plans," said Mike Alfred, CEO and co‐founder of BrightScope. "These Top 30 Plans set a standard of excellence that all companies can follow to secure the financial future of their employees."

The Savings Plan of Saudi Arabian Oil Company is No. 1 with the top rated plan for the second year in a row. Making its first appearance on the BrightScope Year-End Top 30 401k Plans List, Southern California Permanente Medical Group Retirement Plan comes in at No. 2. And the Southwest Airlines Pilots' Retirement Savings Plan is up one spot from its 2009 rank, to No. 3 on the year's list.

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

2010 2009     BrightScope
Rank Rank Plan Name  U.S. Headquarters  Rating™
1 1 The Savings Plan of Saudi Arabian Oil Company Houston, TX 93.17
2 N/A Southern California Permanente Medical Group Retirement Plan San Diego, CA 89.96
3 4 Southwest Airlines Pilots' Retirement Savings Plan Dallas, TX 89.04
4 10 Amgen Retirement and Savings Plan Thousand Oaks, CA 88.40
5 2 United Airlines Pilots' Directed Account Plan Chicago, IL 88.30
6 9 Employees Savings and Retirement Plan of Credit Suisse New York, NY 87.35
7 20 Bayer Corporation Savings and Retirement Plan Pittsburgh, PA 87.26
8 12 BP Employee Savings Plan Houston, TX 86.99
9 N/A Nucor Corporation Profit Sharing and Retirement Savings Plan Charlotte, NC 86.97
10 25 Avaya, Inc. Savings Plan for Salaried Employees Basking Ridge, NJ 86.88
11 21 UBS Savings and Investment Plan New York, NY 86.73
12 28 IBM 401k Plus Plan* Armonk, NY 86.66
13 8 ExxonMobil Savings Plan Irving, TX 86.45
14 N/A sanofi-aventis US Savings Plan Bridgewater, NJ 86.42
15 N/A Anadarko Employee Savings Plan The Woodlands, TX 86.35
16 N/A Novartis Pharmaceuticals Corporation Investment Savings Plan East Hanover, NJ 86.26
17 N/A Bechtel Trust & Thrift Plan San Francisco, CA 86.17
18 7 Chevron Employee Savings Investment Plan San Ramon, CA 85.95
19 N/A Genentech, Inc. Tax Reduction Investment Plan South San Francisco, CA 85.59
20 N/A Altria Deferred Profit-Sharing Plan for Salaried Employees Richmond, VA 85.35
21 6 ConocoPhillips Savings Plan Houston, TX 85.22
22 N/A American Airlines, Inc. Pilot Retirement Benefit Program Variable Income Plan Fort Worth, TX 85.11
23 27 Federal Express Corporation Pilots' Retirement Savings Plan Memphis, TN 85.10
24 N/A Shell Provident Fund Houston, TX 84.80
25 N/A Sun Microsystems, Inc. Tax Deferred Retirement Savings Plan Santa Clara, CA 84.72
26 23 GlaxoSmithKline Retirement Savings Plan Philadelphia, PA 84.68
27 N/A Cisco Systems, Inc. 401k Plan San Jose, CA 84.66
28 N/A Goldman Sachs 401k Plan New York, NY 84.56
29 N/A AstraZeneca Savings and Security Plan Wilmington, DE 84.53
30 13 Pfizer Savings Plan New York, NY 84.52

* denotes a change in plan name since 2009

BrightScope has rated more than 55,000 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. 

For more information please visit www.brightscope.com.

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.

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