SOURCE: BrightScope

BrightScope

August 19, 2014 08:00 ET

BrightScope Ranks the Top 25 Houston Area-Based Companies With the Best 401k Plans

Saudi Arabian Oil Company Reclaims No. 1 Spot and BrightScope Welcomes Six Newcomers to This Year's List

SAN DIEGO, CA--(Marketwired - Aug 19, 2014) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 companies in the Houston area with the highest ranked 401k plans containing more than $100 million in assets.

"Houston's top companies continually offer high quality plans to employees in an effort to help them secure a prosperous financial future," said Brooks Herman, Head of Data & Research at BrightScope. "Over the years, it's been great to see new companies join and recurring contenders improve their rating while Houston area companies as a whole rank among the most generous we've seen nationwide this year."

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

  • Back on top: After scoring the No. 1 spot in 2012, Saudi Arabian Oil Company is on top once again after falling to No. 2 last year
  • First Appearances: This year's list features six newcomers: ConocoPhillips Company (No. 2), Phillips 66 Company (No. 7), IPR-GDF SUEZ Energy North America, Inc. (No. 15), United Airlines, Inc. (No. 17), Cabot Oil & Gas Corporation (No. 20) and EOG Resources, Inc. (No. 23)
  • Average account balance for plans listed is $251,009
  • Average participation rate for plans on the list is 93.18 percent
  • Average company generosity for plans listed is $10,631; the median is $10,107
  • Average salary deferral for plans listed is $10,658; the median is $10,200

Top 25 Houston area companies with the highest ranked 401k plans containing more than $100 million in assets:

Company - Plan Name - BrightScope Rating

1. Saudi Arabian Oil Company - The Savings Plan of Saudi Arabian Oil Company - 90.73

2. ConocoPhillips Company - ConocoPhillips Savings Plan - 90.47

3. BHP Holdings International, Inc. - BHP USA Retirement Savings Plan - 88.51

4. Plains Exploration and Production Company - Plains Exploration and Production Company 401(k) Plan - 88.42 

5. Diamond Offshore Management Company - Diamond Offshore 401(k) Plan - 88.16

6. Greater Houston Anesthesiology, P.A. - Greater Houston Anesthesiology, P.A. 401(k) Profit Sharing Plan - 87.97 

7. Phillips 66 Company - Phillips 66 Savings Plan - 87.69

8. Anadarko Petroleum Corporation - Anadarko Employee Savings Plan - 87.65

9. Exxon Mobil Corporation - ExxonMobil Savings Plan - 87.25

10. BP Corporation North America, Inc. - BP Employee Savings Plan - 86.89

11. Baker Botts, LLP - Baker Botts LLP 401(k) and Savings Plan - Plan B - 86.60

12. Marathon Oil Company - Marathon Oil Company Thrift Plan - 86.24

13. CITGO Petroleum Corporation - CITGO Petroleum Corporation Employees Retirement and Savings Plan - 86.19 

14. Baker Botts, LLP - Baker Botts L.L.P. 401(k) and Savings Plan - Plan A - 85.49

15. IPR-GDF SUEZ Energy North America, Inc. - IPR-GDF SUEZ Energy North America, Inc. 401(k) Plan - 85.18

16. Chevron Phillips Chemical Company LP - Chevron Phillips Chemical Company LP 401(k) Savings and Profit Sharing Plan - 85.13 

17. United Airlines, Inc. - Continental Pilots Defined Contribution Plan (B-Plan) - 85.04

18. Fayez Sarofim & Co. - Fayez Sarofim & Co. Profit Sharing Plan - 84.78 

19. Shell Oil Company - Shell Provident Fund - 84.75

20. Cabot Oil & Gas Corporation - Cabot Oil & Gas Corporation Savings Investment Plan - 84.73

21. Noble Energy, Inc. - Noble Energy, Inc. Thrift and Profit Sharing Plan - 84.70

22. BP Corporation North America, Inc. - BP Capital Accumulation Plan - 84.58 

23. EOG Resources, Inc. - EOG Resources, Inc. Savings Plan - 84.57

24. Solvay America, Inc. - Solvay America Companies' Savings Plan - 84.40

25. BMC Software, Inc. - BMC Software, Inc. Savings and Investment Plan - 84.25

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 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.