SOURCE: BrightScope

BrightScope

February 10, 2015 08:00 ET

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

Sullivan & Cromwell, LLP Scores the Top Spot Again; New Honorees 21st Century Fox America and Cravath, Swaine & Moore, LLP Debut in the Top Five

SAN DIEGO, CA--(Marketwired - Feb 10, 2015) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the fourth list of New York area companies with the highest ranked 401k plans containing more than $100 million in assets.

"One of our longest-standing rankings, it's great to see New York-based companies continue to improve ratings since this launching this list in 2010," said Brooks Herman, Head of Data & Research at BrightScope. "New York is leading the way in company generosity, and local companies are clearly working hard to improve the quality of retirement offerings to better help employees prepare for their financial futures."

Noteworthy findings in the 2015 Top 25 New York Area 401k Plans list include:

  • After debuting at No. 1 in 2013, Sullivan & Cromwell, LLP continues its reign at the top spot on the list with a rating of 92.77

  • BrightScope welcomes 21st Century Fox America, Inc. (No. 3), Cravath, Swaine & Moore (No. 5), Cleary Gottlieb Steen & Hamilton, LLP (No. 7), Cerberus Capital Management, L.P. (No. 8), UniCredit Bank AG (No. 9), Kenyon & Kenyon, LLP (No. 18), Partner Reinsurance Company of the U.S. (No. 19), Ofi Global Asset Management, Inc. (No. 23), Arch Capital Group U.S., Inc. (No. 24) to this year's list

  • Average account balance for plans listed is $468,191

  • Average participation rate for plans on the list is 96.22 percent

  • Average company generosity for plans listed is $20,259; the median is $17,891

  • Average salary deferral for plans listed is $13,496; the median is $11,244

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

Company - Plan Name - BrightScope Rating

1. Sullivan & Cromwell, LLP - Retirement Plan of Sullivan & Cromwell, LLP - 92.77

2. Stroock & Stroock & Lavan, LLP - Stroock & Stroock & Lavan, LLP Retirement Plan and Trust for Partners - 92.22

3. 21st Century Fox America, Inc. - News America Consolidated Savings Plan - 92.21

4. National Basketball Association - Nba-Nbpa 401k Savings Plan - 92.02

5. Cravath, Swaine & Moore, LLP - Retirement Plan of Cravath, Swaine & Moore, LLP - 90.67

6. Simpson, Thacher & Bartlett, LLP - Simpson, Thacher & Bartlett, LLP Supplemental Profit Sharing Plan for Partners - 90.55

7. Cleary Gottlieb Steen & Hamilton, LLP - Cleary Gottlieb Steen & Hamilton, LLP Tax Opportunity Plan for Savings (Plan A) - 90.41 

8. Cerberus Capital Management, L.P. - Cerberus Capital Management, L.P. Profit Sharing 401k Plan - 90.08

9. UniCredit Bank AG - UniCredit Bank AG, New York Branch Employees' Deferred Savings Plan - 89.86 

10. Assured Guaranty Corp. - Assured Guaranty Corp. Employee Retirement Plan - 89.75 

11. General Re Corp. - Employee Savings & Stock Ownership Plan Of General Re Corp. - 89.65

12. Shearman & Sterling, LLP - Shearman & Sterling, LLP Partners' Retirement Plan - 89.60

13. National Exchange Carrier Association, Inc. - National Exchange Carrier Association Retirement Savings Plan - 89.45

14. Renaissance Technologies, LLC - Renaissance Technologies, LLC IRA Plan - 89.06

15. North American Partners in Anesthesia, LLP - North American Partners in Anesthesia, LLP Profit Sharing Plan - 89.02

16. BNP Paribas S.A. - BNP Paribas 401k Savings Plan - 88.32

17. Jennison Associates, LLC - Jennison Associates Savings Plan - 88.03

18. Kenyon & Kenyon, LLP - Kenyon & Kenyon, LLP Savings Plan and Trust for Partners and Employees - 87.92

19. Partner Reinsurance Company of the U.S. - Partner Reinsurance Company of the U.S. 401k Plan - 87.75

20. PMI Global Services, Inc. - Philip Morris International Deferred Profit-Sharing Plan - 87.70

21. Pfizer, Inc. - Pfizer Savings Plan - 87.70

22. TD Securities USA, LLC - The TD Wholesale Banking USA 401k Plan - 87.69

23. Ofi Global Asset Management, Inc. - Ofi Global Retirement Savings Plan - 87.29

24. Arch Capital Group U.S., Inc. - Arch Capital Group (U.S.), Inc. Employee Retirement Plan - 87.20

25. SES Americom, Inc. - SES Americom Retirement and Savings Plan - 87.13

Note: This data is accurate as of January 30, 2015.

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.