SAN DIEGO, CA--(Marketwire - Oct 11, 2012) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced its second round list of the top Indianapolis area-based companies with the highest ranked 401k plans containing more than $50 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.
"Millions of Americans rely on their 401k for a stable financial future, yet many do not have a comprehensive understanding of their plans' benefits," said Dan Weeks, founder and COO of BrightScope. "The BrightScope Rating provides employees and companies with easily understandable and accessible information that can help them create stronger and more robust plans -- much like the Indianapolis companies on this list have already done."
Noteworthy findings in the 2012 Top 25 Indianapolis 401k Plans list include:
- Newcomers Krieg DeVault LLP bumped former No. 1, Barnes & Thornburg LLP, into this year's No. 2 spot
- 6 of the 10 companies from the previous list made a second appearance on this year's list
- Drop in rank: All 6 of the previous 10 companies included on last year's list dropped at least one spot in this year's list, most notably -- Barnes & Thornburg LLP dropped 1 place from 1st to 2nd, Ice Miller LLP fell 2 ranks from No. 3 to No. 5, Bose McKinney & Evans LLP dropped 7 spots from No. 4 to No. 11, and Baker & Daniels LLP slipped 8 spots from 5th to 13th
- Notable Newcomers: Krieg DeVault LLP (No. 1), Bingham McHale LLP (No. 3), Midwest Independent Transmission System Operator (No. 6), Allison Transmission, Inc. (No. 8), and Eli Lilly and Company (No. 9), among others.
Company - Plan Name - BrightScope Rating
1. Krieg DeVault LLP - Krieg DeVault Profit Sharing Plan - 87.80
2. Barnes & Thornburg LLP - Barnes & Thornburg LLP Profit Sharing Plan and Trust - 87.73
3. Bingham McHale LLP - Bingham McHale LLP 401(k) Plan - 87.10
4. Ice Miller LLP - Ice Miller LLP Retirement Plan - 87.01
5. Ice Miller LLP - Ice Miller LLP 401(k) Retirement Savings Plan - 84.10
6. Midwest Independent Transmission System Operator - Midwest ISO Employees' Retirement Savings Plan - 83.96
7. Baker & Daniels LLP - Baker & Daniels H.R. 10 Retirement Plan - 81.57
8. Allison Transmission, Inc. - Allison Transmission Salaried Employee Retirement Savings Plan - 81.02
9. Eli Lilly and Company - The Lilly Employee 401(k) Plan - 79.18
10. Calumet GP, LLC - Calumet GP, LLC Retirement Savings Plan - 79.06
11. Bose McKinney & Evans LLP - Bose McKinney & Evans Retirement Plan - 78.77
12. Cummins, Inc. - Cummins, Inc. and Affiliates Retirement and Savings Plan for Salaried and Non-Bargaining Hourly Employees - 78.58
13. Baker & Daniels LLP - Baker & Daniels LLP Retirement Savings Plan - 78.30
14. Vertellus Specialties Inc. - Vertellus Specialties Inc. 401(k) Deferred Savings Plan - 76.89
15. ATH Holding Company, LLC - WellPoint 401(k) Retirement Savings Plan - 76.42
16. CountryMark Cooperative, LLP - CountryMark Cooperative, LLP Savings Plan - 75.67
17. United Farm Family Life Insurance Company - Indiana Farm Bureau Companies Employees' Savings Plan - 75.00
18. Knauf Insulation GmbH - Knauf Revised Thrift Plan - 74.89
19. University Of Indianapolis - University Of Indianapolis Defined Contribution Retirement Plan - 74.64
20. American United Life Insurance Company - American United Life Insurance Company Progress Sharing Plan and Trust - 74.02
21. Duke Realty Corporation - Duke 401(k) Plan - 73.91
22. The AES Corporation - Employees' Thrift Plan of Indianapolis Power & Light Company - 73.32
23. Orthopaedics Indianapolis, P.C. - Orthopaedics Indianapolis, P.C. Profit Sharing & 401(k) Plan - 72.84
24. Cook Group Incorporated - Cook Group, Inc. Profit Sharing Plan - 70.91
25. Irving Materials, Inc. - Irving Materials, Inc. Employee Savings 401(k) Plan - 70.43
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.
The company has rated more than 46,000 retirement plans, spanning 30 million workers and $2 trillion in assets, and provided information on more than 770,000 financial advisors. 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.
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 nearly 45,000 advisory firms are available for free at www.brightscope.com.