SOURCE: BrightScope


October 05, 2010 09:00 ET

BrightScope Announces the Top 10 Pittsburgh Area-Based Companies With the Best 401K Plans

Bayer Corporation, PPG Industries, Alcoa Inc. and CONSOL Energy Inc. Have Plans With the Most Participants

SAN DIEGO, CA--(Marketwire - October 5, 2010) -  BrightScope (, the leading independent provider of retirement plan ratings, today announced the Top 10 Pittsburgh 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.

"Retirement plans are complex. The majority of Americans who rely on the 401k for retirement savings do not have a clear idea of how their plan is performing," said Mike Alfred, CEO and co-founder of BrightScope. "We give plan sponsors and participants insight into the factors that will directly affect their return on investment, such as company generosity, investment menu quality and fees paid."

Top 10 Pittsburgh 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. Bayer Corporation -- Bayer Corporation Savings and Retirement Plan -- 86

2. Reed Smith LLP -- Reed Smith LLP Deferred Profit Sharing Plan -- 84

3. Allegheny Technologies Incorporated -- Allegheny Technologies Retirement Savings Plan -- 82

4. H.J. Heinz Company -- H.J. Heinz Company Employees Retirement and Savings Plan -- 79

5. CONSOL Energy Inc. -- CONSOL Energy Inc. Investment Plan for Salaried Employees -- 79

6. United States Steel Corporation and Affiliated Cos. -- United States Steel Corporation Savings Fund Plan For Salaried Employees -- 78

7. MEDRAD, Inc. -- MEDRAD, Inc. 401k Profit Sharing Plan -- 78

8. Alcoa Inc. -- Alcoa Savings Plan for Non-Bargaining Employees -- 77

9. K&L Gates LLP -- K&L Gates 401k Retirement Plan -- 76

10. PPG Industries -- PPG Industries Employee Savings Plan -- 74

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 50,000 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,

Contact Information

  • Meri Morris
    Atomic PR for BrightScope
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