SAN DIEGO, CA--(Marketwired - Mar 31, 2014) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 companies in the Atlanta area 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.
"Many companies reappearing on the list of Atlanta's Top 401k Plans have increased plan ratings over the past year, showing a trend of higher plan quality in the area." said Mike Alfred, CEO and co-founder of BrightScope. "Offering top-notch plans is a sign that these companies truly appreciate their employees and indicates that they continually strive to improve the financial future for workers."
Noteworthy findings in the 2014 Top 25 Atlanta 401k Plans list include:
- Strong and Steady: AXIS Specialty U.S. Services maintains the top spot for the third year in a row, while IVZ, Inc. and Oglethorpe Power Corporation maintain the second and third spots, respectively, for the second year running
- Warm Welcome: MCG U.S. Holdings and Leica Geosystems make debuts at No. 14 and No. 25, respectively
- Greatest Leap: CedarCrestone, Inc. jumped 19 spots from No. 23 to No. 4
- Average account balance for plans listed is $169,654
- Average participation rate for plans on the list is 94.87%
- Average company generosity for plans listed is $10,991; the median is $11,486
- Average salary deferral for plans listed is $8,983; the median is $9,215
Top 25 Atlanta Area companies with the highest ranked 401k plans containing more than $50 million in assets:
Company - Plan Name - BrightScope Rating
1. AXIS Specialty U.S. Services, Inc. - AXIS Specialty U.S. Services, Inc. 401(k) Plan - 88.44
2. IVZ, Inc. - Invesco 401(k) Plan - 87.48
3. Oglethorpe Power Corporation - Oglethorpe Power Corporation Retirement Plan - 87.31
4. CedarCrestone, Inc. - CedarCrestone 401(k) Plan - 87.19
5. RSUI Indemnity Company - RSUI 401(k)/Retirement Savings Plan - 87.12
6. Arnall Golden Gregory LLP - Arnall Golden Gregory LLP Self Employed Persons Retirement Plan - 86.78
7. Georgia Transmission Corporation - Georgia Transmission Corporation Retirement Plan - 86.51
8. Northside Anesthesiology Consultants, LLC - Northside Anesthesiology Consultants, LLC 401(k) Profit Sharing Plan - 86.28
9. Delta Air Lines, Inc. - Delta Pilots Defined Contribution Plan - 86.23
10. The North Highland Company - The North Highland Company Employee Stock Ownership and 401(k) Plan - 85.95
11. Delta Air Lines, Inc. - Delta Pilot Savings Plan - 85.68
12. Alston & Bird, LLP - A&B Retirement Plan - 85.66
13. Sony Ericsson Mobile Communications USA, Inc. - Sony Ericsson 401(k) and Savings Plan - 85.58
14. MCG U.S. Holdings, Inc. - MCG U.S. Holdings, Inc. 401(k) Plan - 85.58
15. Smith, Gambrell & Russell, LLP - The Smith, Gambrell & Russell Partner-Staff 401(k) Profit Sharing Plan - 85.42
16. UCB Holdings, Inc. - UCB, Inc. 401(k) Retirement Plan - 85.35
17. IntercontinentalExchange, Inc. - IntercontinentalExchange, Inc. 401(k) and Profit Sharing Plan - 84.98
18. Troutman Sanders LLP - Troutman Sanders LLP Cash or Deferred Profit Sharing Plan - 84.75
19. Morris, Manning & Martin, LLP - MMM Partner/Staff Plan - 84.56
20. King & Spalding LLP - King & Spalding LLP Profit Sharing - 401(k) Plan - 83.97
21. Institute of Nuclear Power Operations - Institute of Nuclear Power Operations 401(k) Retirement Savings Plan - 83.70
22. ING Life Insurance and Annuity Co. - ING 401(k) Plan for ILIAC Agents - 83.43
23. Fisher and Phillips LLP - Fisher and Phillips LLP Savings and Profit Sharing Plan - 83.38
24. Travelport Inc. - Travelport Employee Savings Plan - 83.02
25. Leica Geosystems, Inc. - Leica Geosystems Inc. 401(k) Savings Plan - 82.82
On April 24, Mr. Alfred will be speaking at the Plan Sponsor Consultants Breakfast with Benefits, at the Ritz-Carlton, Buckhead in Atlanta where he discuss a variety of topics relating to America's 401k program, including BrightScope's fifth annual Atlanta's Top 25 401k Plans List. This event is the 22nd in a series of Breakfast with Benefits sponsored by Plan Sponsor Consultants. For more information and to register for the event, please go to plansponsorconsultants.com/events or email firstname.lastname@example.org.
Plan Sponsor Consultants is a nationally recognized, award winning, independent firm focused on retirement plan consulting. They offer insight and expertise in key areas of retirement plan management for a wide range of plan sizes. They have offices in Atlanta, Mobile, Birmingham, and Marquette and service plans throughout the country. "We are excited to team up with BrightScope and Mike Alfred to bring awareness to the Atlanta market again in 2014," says Founder and Managing Director, Mike Kane.
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.
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 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.