SOURCE: BrightScope

BrightScope

August 31, 2010 09:00 ET

BrightScope Features the Top 10 Miami Area-Based Companies With the Best 401k Plans

Law Firm, Insurance Company and Top-Tier Technology Company Lead the Region's List

SAN DIEGO, CA--(Marketwire - August 31, 2010) -  BrightScope (www.brightscope.com), the leading independent provider of retirement plan ratings, today announced the Top 10 Miami area-based companies with the highest ranked 401k plans containing more than $50 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.

"Miami is home to many great companies and we are excited to have them as part of our top 10 list," said Mike Alfred, CEO and co-founder of BrightScope. "The companies on the Miami list are taking the steps needed to provide a strong financial future for their employees."

Top 10 Miami area-based companies with the highest ranked 401k plans containing more than $50 million in assets:

Company -- Plan Name -- BrightScope Rating (Rounded to the nearest whole number)

1. Greenberg Traurig -- Greenberg Traurig, PA 401k Plan -- 80

2. NCCI Holdings Inc. -- NCCI Holdings, Inc. 401k Savings Plan -- 79

3. Citrix Systems Inc. -- Citrix Systems, Inc. 401k Plan -- 76

4. Pediatrix Medical Group Inc. -- Pediatrix Medical Group Thrift and Profit Sharing Plan -- 73

5. JM Family Enterprises Inc. -- JM Family Enterprises, Inc. Associates' 401k Plan -- 68

6. Board of Trustees American Maritime Officers 401k Plan -- American Maritime Officers 401K Plan -- 68

7. Ocean Bank -- Ocean Bank 401k Savings Plan -- 66

8. Seacor Payroll Management LLC -- Seacor Savings Plan -- 65

9. Southern Wine and Spirits of America Inc. -- Southern Wine And Spirits of America Inc. 401k Retirement Plan -- 64

10. HEICO Corporation -- HEICO Corporation Savings and Investment Plan -- 64

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 45,000 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, www.brightscope.com.

Contact Information

  • Meri Morris
    Atomic PR for BrightScope
    415-593-4031
    Email Contact