SOURCE: BrightScope

BrightScope

July 12, 2012 09:00 ET

BrightScope Announces the Top 25 Detroit Area-Based Companies With the Best 401k Plans

Dickinson Wright PLLC Comes in at No. 1, Pushing Former List Leader Honigman Miller Schwartz and Cohn LLP to No. 2

SAN DIEGO, CA--(Marketwire - Jul 12, 2012) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced its second annual list of the top Detroit area-based companies with the highest ranked 401k plans containing more than $100 million in assets. This year BrightScope has extended the list to include the top 25 companies.

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.

"By using the BrightScope Rating to create these lists we bring additional value and insight to companies that are looking to enhance their 401k offerings in the competitive retirement plan market," said Dan Weeks, founder and COO of BrightScope. "It is apparent that the Detroit companies on this year's list have dedicated the time to create 401k plans that offer the essential components needed to ensure a successful retirement for the employees that help their companies prosper."

Noteworthy findings in the 2012 Top 25 Detroit Area-Based 401k Plans list include:

  • All plans from the previous list appeared again in this year's rankings except the Pulte Homes, Inc. 401(k) Plan whose rating fell to 67.70
  • The nine plans that made a second appearance this year each dropped down at least one spot; TRW Automotive Holdings Corp. fell nine places from 6th to 15th, Blue Cross Blue Shield of Michigan dropped 10 spots from No. 8 to No. 18 and Compuware Corporation fell 14 spots from No. 9 to No. 23
  • Dickinson Wright PLLC took the No. 1 spot this year, pushing down former 1st place holder Honigman Miller Schwartz and Cohn LLP to 2nd
  • Newcomers Miller, Canfield, Paddock and Stone, P.L.C. (No. 3), Dykema Gossett PLLC (No. 7), Delphi Corporations (No. 8) and DTE Energy Corporate Services, LLC (No. 10) rounded out this year's top 10
  • Other new arrivals include Barton Malow Company, Valeo, Inc., MAG Industrial Automation Systems, LLC and Holcim (US) Inc., among others

Company - Plan Name - BrightScope Rating

1. Dickinson Wright PLLC - Dickinson Wright PLLC Retirement and 401(k) Savings Plan - 85.89
2. Honigman Miller Schwartz and Cohn LLP - Honigman Miller Schwartz and Cohn LLP Income Deferral and Profit Sharing Plan - 85.68
3. Miller, Canfield, Paddock and Stone, P.L.C. - Miller, Canfield, Paddock and Stone, P.L.C. Capital Accumulation Plan - 85.51
4. International Union, UAW - U.A.W. Staff Pension (Severance) Plan - 83.73
5. General Motors LLC - General Motors Savings-Stock Purchase Program for Salaried Employees in the United States - 83.72
6. Lear Corporation - Lear Corporation Salaried Retirement Program - 83.16
7. Dykema Gossett PLLC - Dykema Gossett PLLC Savings & Investment Plan - 83.08
8. Delphi Corporation - Delphi Salaried Retirement Savings Program - 82.57
9. Visteon Corporation - Visteon Investment Plan - 82.52
10. DTE Energy Corporate Services, LLC - DTE Energy Company Savings and Stock Ownership Plan - 80.12
11. Ford Motor Company - Ford Motor Company Savings and Stock Investment Plan for Salaried Employees - 79.57
12. The Taubman Company, LLC - The Taubman Company and Related Entities Employee Retirement Savings Plan - 79.28
13. BorgWarner, Inc. - BorgWarner, Inc. Retirement Savings Plan - 78.97
14. Fanuc Robotics America, Inc. - Fanuc Robotics America, Inc. Savings Plan - 78.90
15. TRW Automotive Holdings Corp. - TRW Automotive Retirement Savings Plan for Salaried Employees - 78.23
16. Valeo, Inc. - Valeo, Inc. Retirement Savings Plan - 77.65
17. Barton Malow Company - Barton Malow Profit Sharing and Savings Plan - 77.35
18. Blue Cross Blue Shield of Michigan - Blue Cross Blue Shield of Michigan Employees' Savings Plan - 77.12
19. Ally Financial Inc. - Ally Financial Inc. Retirement Savings Plan - 77.10
20. The George P. Johnson Company - The George P. Johnson Company Employee Stock Ownership Plan - 76.30
21. Yazaki North America, Inc. - Yazaki Employee Savings and Retirement Plan - 76.17
22. MAG Industrial Automation Systems, LLC - MAG Industrial Automation Systems Retirement Savings Plan - 75.87
23. Compuware Corporation - Compuware Corporation ESOP/401(k) Plan - 75.84
24. Holcim (US) Inc. - Holcim (US) Inc. Retirement Savings Plan for Salaried Employees - 75.77
25. ZF Group North American Operations - ZF Group North American Operation & Affiliated Companies 401(k) and Retirement Plan Trust - 75.07

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 nearly 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 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 45,000 advisory firms are available for free at www.brightscope.com.

Contact Information

  • Katie Carlson
    Atomic PR for BrightScope
    415-593-1400
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