SAN DIEGO, CA--(Marketwire - Nov 15, 2012) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced its second round list of the top Virginia Beach area-based companies with the highest ranked 401k plans containing more than $10 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.
"We are pleased to share this list of the top Virginia Beach companies and the robust plans they offer," said Dan Weeks, Co-Founder and Chief Evangelist of BrightScope. "One of the many reasons we created the BrightScope Rating was to share these lists and show other companies and employees the specific benefits and components required to make a reliable 401k plan and ensure a dignified retirement."
Noteworthy findings in the 2012 Top 25 Virginia Beach 401k Plans list include:
- Newcomers Emergency Physicians of Tidewater, P.L.C. and Children's Specialty Group, PLLC take the top two spots
- Six of the 10 companies from the previous list made an appearance this year
- Jump in rank: Gastrointestinal & Liver Specialists of Tidewater, PLLC moved up four spots from No. 8 to No. 4
- Drop in rank: Five of the previous 10 companies included on last year's list dropped at least one spot, most notably -- Willcox & Savage, P.C. dropped four places from 4th to 8th, Kaufman & Canoles, A Professional Corporation fell six ranks from No. 3 to No. 9, Vandeventer Black, LLP slipped eight spots from 2nd to 10th, and Tidewater Physicians Multispecialty Group, P.C. descended eleven places from No. 5 to No. 16
- Notable Newcomers: Newcomers dominated this year's list, with Emergency Physicians of Tidewater, P.L.C. taking the top spot; Children's Specialty Group, PLLC (No. 2), Cardiology Consultants, Ltd. (No. 3), Atlantic Anesthesia, Inc. (No. 5), and American Maritime Holdings, Inc. (No. 6), among others.
Company - Plan Name - BrightScope Rating
1. Emergency Physicians of Tidewater, P.L.C. - Emergency Physicians of Tidewater, PLC 401(k) & Profit Sharing Plan - 89.80
2. Children's Specialty Group, PLLC - Children's Specialty Group, PLLC 401(k) Profit Sharing Plan - 85.59
3. Cardiology Consultants, Ltd. - Cardiology Consultants, Ltd. Profit Sharing Plan - 81.98
4. Gastrointestinal & Liver Specialists of Tidewater, PLLC - Gastrointestinal and Liver Specialists of Tidewater, PLLC 401(k) Profit Sharing Plan - 81.32
5. Atlantic Anesthesia, Inc. - Atlantic Anesthesia, Inc. Profit Sharing Plan - 81.22
6. American Maritime Holdings, Inc. - American Maritime Holdings, Inc. Employee Stock Ownership Plan - 81.15
7. Atlantic Anesthesia, Inc. - Atlantic Anesthesia, Inc. 401(K) Plan - 80.25
8. Willcox & Savage, P.C. - Willcox & Savage, P.C. Profit Sharing Retirement Plan - 80.08
9. Kaufman & Canoles, A Professional Corporation - Kaufman & Canoles 401(k) Profit Sharing Plan - 79.54
10. Vandeventer Black, LLP - Vandeventer Black, LLP 401(k) Profit Sharing Plan - 79.14
11. Cardiovascular Associates, Ltd. - Cardiovascular Associates, Ltd. Profit Sharing Plan - 79.04
12. Anheuser-Busch, Inc. - Retirement Plan & Trust for Employees of Anheuser-Busch, Inc. Teamsters Local 95 - 78.22
13. Virginia Oncology Associates, P.C. - Virginia Oncology Associates, P.C. 401(k) Plan - 78.19
14. Norfolk Southern Corporation - Thrift and Investment Plan of Norfolk Southern Corporation and Participating Subsidiary Companies - 77.36
15. W. M. Jordan Company, Inc. - W. M. Jordan Company, Inc. Profit Sharing/401(k) Plan - 77.26
16. Tidewater Physicians Multispecialty Group, P.C. - Tidewater Physicians Multispecialty Group, P.C. 401(k) Plan - 77.17
17. TowneBank - TowneBank 401(k) Retirement Savings Plan - 76.49
18. Dixon Hughes PLLC - Dixon Hughes Goodman 401(k) Retirement Plan (#002) - 75.94
19. Damuth Services, Inc. - Damuth Services, Inc. Profit Sharing 401(k) Plan - 75.66
20. Zel Technologies, LLC - Zel Technologies, LLC Profit Sharing & 401(k) Plan - 75.28
21. Plasser American Corporation - Plasser American Corporation 401(k) Savings Plan - 74.83
22. Lakeview Medical Center, Inc. - Lakeview Medical Center, Inc. Retirement Plan - 74.62
23. Liebherr Mining & Construction Equipment, Inc. - Liebherr-America, Inc. Pension Plan - 73.96
24. Children's Medical Group, Inc. - Children's Medical Group 401(k) Plan - 71.84
25. CMA CGM America, LLC - CMA CGM (America), LLC 401(k) Plan - 71.84
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.