SOURCE: BrightScope

BrightScope

December 15, 2015 09:00 ET

BrightScope Announces Its Seventh Annual Top 30 401k Plans List

NFL Player Second Career Savings Plan Scores Top Spot for Third Year in a Row; BrightScope Welcomes Nine New Companies

SAN DIEGO, CA--(Marketwired - Dec 15, 2015) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, is proud to announce the seventh BrightScope year-end ranking of the Top 30 401k Plans List to recognize companies with the best 401k plans containing more than $1 billion in assets.

"This is our seventh year compiling the Year-End Top 30 Ratings list, and yet again we see companies offer increasingly outstanding plans," said Mike Alfred, CEO & co-founder of BrightScope. "It's encouraging to see the average plan rating continue to improve, demonstrating employers recognize the importance a high quality 401k plan plays in helping employees retire with dignity."

Key Statistics of BrightScope's 2015 Top 30 List:

  • Plan quality has steadily increased: the average BrightScope rating of plans on the list is up to 88.47 compared to an average rating of 87.1 for plans on the 2011 list
  • Target Date Fund growth spikes: TDFs represent 12.42 percent of assets, up from 5.54 percent compared to the 2014 Top 30 List
  • Index Funds stay stable: for the second year in a row, index funds account for 35 percent of assets across plans on the list
  • Participation rates slow to 96 percent, down nearly one percent year-over-year*
  • Salary deferrals per participant average over $13,781, growing from $13,572
  • Average account balances represented have decreased by nearly $10,000 since the Top 30 List of 2014*
    *this does not refer to drops or decrease in participation

Noteworthy findings since BrightScope's last release of this list in December 2014:

The entire list of the 2015 Top 30 401k Plans with more than $1 billion in assets:

         
2015
Rank
2014
Rank

Plan Name

U.S. Headquarters
BrightScope
Rating™
1 1 NFL Player Second Career Savings Plan Baltimore, MD 91.13
2 3 The Savings Plan of Saudi Arabian Oil Company Houston, TX 90.79
3 6 Amgen Retirement and Savings Plan Thousand Oaks, CA 90.78
4 2 Southwest Airlines Pilots Retirement Savings Plan Dallas, TX 90.63
5 4 Wellington Retirement and Pension Plan Boston, MA 90.48
6 22 Astrazeneca Savings and Security Plan Wilmington, DE 89.39
7 7 UPS/IPA Defined Contribution Money Purchase Pension Plan Louisville, KY 89.10
8 8 ConocoPhillips Savings Plan Houston, TX  88.75
9 N/A Chevron Employee Savings Investment Plan San Ramon, CA 88.68
10 11 BP Employee Savings Plan Houston, TX 88.31
11 28 Anadarko Employee Savings Plan The Woodlands, TX 88.30
12 N/A Agilent Technologies, Inc. 401(k) Plan Santa Clara, CA 88.26
13 16 Bechtel Trust & Thrift Plan San Francisco, CA 88.22
14 13 Southern California Permanente Medical Group Retirement Plan Pasadena, CA 88.21
15 10 ExxonMobil Savings Plan Houston, TX 88.20
16 N/A Pfizer Savings Plan Peapack, NJ 88.12
17 14 Merrill Lynch & Co., Inc. 401(K) Savings &Investment Plan Charlotte, NC 88.11
18 12 Google Inc. 401(K) Savings Plan Mountain View, CA 88.07
19 9 Bayer Corporation Savings and Retirement Plan Pittsburgh, PA 87.89
20 30 Novartis Corporation Investment Savings Plan New York, NY 87.88
21 15 Phillips 66 Savings Plan Houston, TX 87.68
22 26 Shell Provident Fund Houston, TX 87.59
23 17 Latham & Watkins 401(k) Savings and Profit Sharing Plan Los Angeles, CA 87.56
24 N/A BASF Corporation Retirement Savings Plan Florham Park, NJ 87.56
25 N/A Takeda Pharmaceuticals U.S.A., Inc. Savings and Retirement Plan Deerfield, IL 87.53
26 N/A Sanofi U.S. Group Savings Plan Bridgewater, NJ 87.46
27 N/A Bristol-Myers Squibb Company Savings and Investment Program New York, NY 87.44
28 N/A The 401(k) Savings and Profit Sharing Plan of McGraw-Hill Financial, Inc. and its Subsidiaries New York, NY 87.31
29 27 Federal National Mortgage Association Retirement Savings Plan for Employees Washington, DC 87.26
30 N/A Allergan, Inc. Savings and Investment Plan Irvine, CA 87.18
         

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.

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.

BrightScope has rated nearly 50,000 401k and 403b plans, spanning more than 57 million workers and over $3 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 a financial information company that brings transparency to opaque markets through independent research and analysis. Delivered through cloud-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 nearly 50,000 retirement plans as well as rating definitions, criteria and methodologies, and information on more than 680,000 financial advisors and nearly 33,000 active advisory firms are available for free at www.brightscope.com.