SOURCE: BrightScope

BrightScope

November 11, 2014 08:00 ET

BrightScope Lists the Top 25 Indianapolis Area-Based Companies With the Best 401k Plans

Ice Miller LLP Takes the Top Spot; Krieg DeVault and Barnes & Thornburg LLP Round Out Top Three

SAN DIEGO, CA--(Marketwired - Nov 11, 2014) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the third ranking of Indianapolis area companies with the highest ranked 401k plans containing more than $50 million in assets.

"The high participation rates seen across Indianapolis' top plans showcases a national trend of workers increasingly prioritizing retirement savings," said Brooks Herman, Head of Data & Research at BrightScope. "BrightScope has seen that enthusiasm being reciprocated by companies which are more frequently improving the quality of their 401k plan in response to employees' demand for better retirement options."

Noteworthy findings in the 2014 Top 25 Indianapolis area 401k Plans list include:

  • Warm Welcome: Indiana University Health Care Associates, Inc. d/b/a Indiana University Health Physicians (No. 5), Agreliant Genetics, LLC (No. 17), Interactive Intelligence Group, Inc. (No. 18), Indianapolis Power & Light Company (No. 20), Board of Trustees, ISC Plasterers & Cement Masons Pension Fund (No. 21), CNO Services, LLC (No. 22), Dorel U.S.A., Inc. (No. 23) and SMC Corporation of America (No. 25) join the list
  • Greatest Leaps: Cummins Inc. moves from No. 12 to No. 7, Countrymark Cooperative Holding Cor from No. 16 to No. 9 and Orthopaedics Indianapolis, P.C. from No. 23 to No. 11
  • Average account balance for plans listed is $117,795
  • Average participation rate for plans on the list is 94 percent
  • Average company generosity for plans listed is $5,672; the median is $4,284
  • Average salary deferral for plans listed is $5,979; the median is $5,824

Top 25 Indianapolis area companies with the highest ranked 401k plans containing more than $50 million in assets:

Company - Plan Name - BrightScope Rating

1. Ice Miller LLP - Ice Miller LLP 401(k) Retirement Savings Plan - 87.81

2. Krieg DeVault LLP - Krieg DeVault Profit Sharing Plan - 85.86 

3. Barnes & Thornburg LLP - Barnes & Thornburg LLP Profit Sharing Plan and Trust - 85.34

4. MISO - MISO Employees' Retirement Savings Plan - 84.07 

5. Indiana University Health Care Associates, Inc. d/b/a Indiana University Health Physicians - Indiana University Health Physicians Retirement Savings Plan - 82.89

6. Allison Transmission, Inc. - Allison Transmission Salaried Employee Retirement Savings Plan - 81.59 

7. Cummins Inc. - Cummins Inc. and Affiliates Retirement and Savings Plan for Salaried and Non-Bargaining Hourly Employees - 81.53

8. Bose McKinney & Evans LLP - Bose McKinney & Evans Retirement Plan - 81.35 

9. Countrymark Cooperative Holding Cor - Countrymark Savings Plan - 78.52

10. Orthopaedics Indianapolis, P.C. - Orthopaedics Indianapolis, P.C. Profit Sharing & 401k Plan - 78.51 

11. Vertellus Specialties Inc. 401(k) Deferred Savings Plan - Vertellus Specialties Inc. 401k Deferred Savings Plan - 78.50 

12. Asphalt Materials, Inc. - Heritage Group Retirement Savings Plan XV - 78.00 

13. Knauf Insulation GmbH - Knauf Revised Thrift Plan - 77.98 

14. Duke Realty Corporation - Duke Realty 401k Plan - 76.17

15. ATH Holding Company, LLC - Wellpoint 401k Retirement Savings Plan - 75.99

16. United Farm Family Life Insurance Company - Indiana Farm Bureau Companies Employees' Savings Plan - 75.97 

17. Agreliant Genetics, LLC - Agreliant Genetics 401k Retirement Plan - 75.09 

18. Interactive Intelligence Group, Inc. - Interactive Intelligence Group, Inc. 401k Savings Plan - 74.74 

19. American United Life Insurance Company - American United Life Insurance Company Progress Sharing Plan and Trust - 74.37 

20. Indianapolis Power & Light Company - Employees' Thrift Plan of Indianapolis Power & Light Company - 74.30 

21. Board of Trustees, ISC Plasterers & Cement Masons Pension Fund - Indiana State Council of Plasterers & Cement Masons Pension Fund - 73.74

22. CNO Services, LLC - CNOSave Plus Plan - 73.07

23. Dorel U.S.A., Inc. - Dorel U.S.A. Salaried 401(k) Retirement Plan - 72.68 

24. Cummins Inc. - Cummins Retirement and Savings Plan for Collectively Bargained Employees - 72.55 

25. SMC Corporation of America - SMC Corporation Retirement Savings Plan - 71.15 

Note: This data is accurate as of October 31, 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 cloud-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.