SOURCE: BrightScope

BrightScope

September 09, 2014 08:00 ET

BrightScope Announces the Top 15 Austin Area-Based Companies With the Best 401k Plans

Capitol Anesthesiology Association, Advanced Micro Devices and ARM Snag Top Honors on Austin's Inaugural Ranking

SAN DIEGO, CA--(Marketwired - Sep 9, 2014) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the first ranking of Austin area companies with the highest ranked 401k plans containing more than $50 million in assets.

"In BrightScope's inaugural ranking of Austin's best 401k plans, we're thrilled to see many local companies follow the trend of strong retirement offerings that we've seen across Texas' largest cities this year," said Brooks Herman, Head of Data & Research at BrightScope. "The quality of 401k plans offered by Austin's top ranked companies shows that the employers represented are doing a good job to support the successful financial futures of their employees."

Noteworthy findings in the 2014 Top 15 Austin 401k Plans list include:

  • Strong Debut: BrightScope congratulates Capitol Anesthesiology Association for snagging top honors on the list and beating out the No. 2 honoree by nearly four points
  • Average account balance for plans listed is $92,459
  • Average participation rate for plans on the list is 85.18 percent
  • Average company generosity for plans listed is $3,700; the median is $6,409
  • Average salary deferral for plans listed is $6,967; the median is $6,409

Top 15 Austin Area companies with the highest ranked 401k plans containing more than $50 million in assets:

Company - Plan Name - BrightScope Rating

1. Capitol Anesthesiology Association - Capitol Anesthesiology Association 401(k) Profit-Sharing and Savings Plan - 89.09

2. Advanced Micro Devices, Inc. - Advanced Micro Devices, Inc. Retirement Savings Plan - 85.50 

3. ARM, Inc. - ARM, Inc. 401(k) Savings Plan - 85.14

4. Dimensional Investment LLC - Dimensional Fund Advisors Deferred Compensation and Profit Sharing Plan - 85.11 

5. Freescale Semiconductor, Inc. - Freescale Semiconductor, Inc. 401(k) Retirement Savings Plan - 83.73

6. Silicon Laboratories, Inc. - Silicon Laboratories, Inc. 401(k) Plan - 83.19 

7. Austin Radiological Association, P.A. - Austin Radiological Association, P.A. 401(k) Profit Sharing Plan and Trust - 82.67

8. Dell Inc. - DELL INC. 401(K) PLAN - 80.88

9. Gemalto, Inc. - Gemalto Retirement Savings Plan - 80.35

10. Cirrus Logic, Inc. - Cirrus Logic, Inc. 401(k) Profit Sharing Plan - 80.11

11. Toppan Photomasks, Inc. - Toppan Photomasks, Inc. 401(k) Retirement Plan - 79.20

12. Quest Software, Inc. - Quest Software, Inc. 401(k) Profit Sharing Plan - 77.81

13. Tokyo Electron US Holdings, Inc. - Tokyo Electron Retirement Plan Trust - 77.56 

14. National Instruments - National Instruments 401(k) Plan - 76.75

15. Samsung Austin Semiconductor, LLC - Samsung 401(k) Plan - Samsung Austin Semiconductor - 76.38

Note: This data is accurate as of September 2, 2014.

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 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 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.