SAN DIEGO, CA--(Marketwired - Jun 11, 2013) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced its third annual list of the top Washington D.C. 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.
"It is gratifying to observe the positive changes these Washington D.C. companies have made to their plans year over year," said Dan Weeks, Co-Founder of BrightScope. "By tracking progress with the BrightScope 401k Ratings, we can see just how companies are focusing on the components that make up their plans in an effort to maximize their employees' chance of a successful retirement."
Noteworthy findings in the 2013 Top 25 Washington D.C. 401k Plans list include:
- Triumphant Return: Scitor Corporation, absent since 2010's list (No. 5), has launched back onto this year's list at the No. 2 spot
- Continued Improvement: From eighth place in 2010 to fifth in 2012, Covington & Burlington LLP continues to climb the list with a fourth place finish this year
- Average account balance for plans listed is $158,263
- 95.33% is the average participation rate for plans on the list
- Average company generosity for plans listed is $10,288; the median is $9,943
- Average salary deferral for plans listed is $10,220; the median is $10,255
Company - Plan Name - BrightScope Rating
1. Zeta Associates - Zeta Associates Incorporated Savings Plan - 91.90
2. Scitor Corporation - Scitor Corporation Salary Savings and Profit Sharing Plan - 89.82
3. Advanced Technology Holding, LLC - ATH Retirement Plan and Trust - 89.80
4. Covington & Burling LLP - Covington & Burling Retirement Savings Plan - 87.54
5. TASC, Inc. - TASC, Inc. Savings Plan - 87.50
6. Arnold & Porter LLP - Arnold & Porter LLP Profit-Sharing and 401(k) Plan and Trust - 86.65
7. Finnegan, Henderson, Farabow, Garrett & Dunner, L.L.P. - Finnegan, Henderson, Farabow, Garrett & Dunner, L.L.P. Profit Sharing Plan - 86.46
8. Hogan Lovells US LLP - Hogan Lovells US LLP Retirement Savings Plan - 86.22
9. Venable LLP - Venable LLP Retirement Plan - 85.86
10. Federal National Mortgage Association - Federal National Mortgage Association Retirement Savings Plan for Employees - 85.60
11. The AES Corporation - The AES Corporation Retirement Savings Plan - 85.50
12. Federal Home Loan Mortgage Corporation - Federal Home Loan Mortgage Corporation Thrift/401(k) Savings Plan - 85.40
13. Patton Boggs LLP - Patton Boggs LLP Retirement Plan - 85.35
14. Mid-Atlantic Permanente Medical Group, P.C. - Mid-Atlantic Permanente Medical Group, P.C. 401(k) Plan - 85.23
15. Sutherland Asbill & Brennan LLP - Sutherland Asbill & Brennan LLP Retirement Plan A - 85.04
16. Intelsat Corporation - The Intelsat Retirement Savings Plan - 84.96
17. The NASDAQ OMX Group, Inc. - The NASDAQ OMX Group, Inc. 401(k) Savings Plan - 84.91
18. National Education Association of the United States - The National Education Association 401(k) Retirement Savings Plan - 84.62
19. DLA Piper LLP (US) - DLA Piper LLP (US) Profit Sharing and 401(k) Savings Plan - 84.55
20. FINRA - FINRA Savings Plus Plan - 84.48
21. MedImmune, LLC - MedImmune, LLC 401(k) Plan - 83.90
22. Wiley Rein LLP - Wiley Rein LLP Retirement Plan - 83.73
23. Northrop Grumman Corporation - Northrop Grumman Savings Plan - 83.60
24. Savings Board of the NFL Player Second Career Savings Plan - NFL Player Second Career Savings Plan - 83.36
25. Thales USA, Inc. - Thales Incentive 401(k) Savings Plan - 83.34
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.
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 nearly 600,000 financial advisors and nearly 40,000 advisory firms are available for free at www.brightscope.com.