SOURCE: BrightScope

BrightScope

June 10, 2014 08:00 ET

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

Valley Anesthesiology Consultants, LTD Rockets to the No. 1 Spot Their First Year on the List, Followed by Fellow Newcomer Lewis and Roca LLP

SAN DIEGO, CA--(Marketwired - Jun 10, 2014) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 companies in the Phoenix area with the highest ranked 401k plans containing more than $100 million in assets.

"It is exciting to see newcomers to the Phoenix Top 25 401k list�,� like Valley Anesthesiology Consultants. � ��Retirement plan�s in Phoenix mirror a nationwide trend, with substantial 401k plan asset� �growth over the past few years," said Brooks Herman, Head of Data & Research at BrightScope. "It is great to see new plans on this list that are dedicated to helping their employees attain more secure financial futures, � while� �setting a high bar for other Phoenix companies of all sizes."

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

  • Strong Debut: Valley Anesthesiology Consultants, LTD grabs the top spot in their first time on the list, alongside Lewis and Roca LLP (No. 2), District Medical Group, Inc. (No. 6), Fennemore Craig, P.C. (No. 11) and Insight Enterprises, Inc. (No. 24)

  • Keeping Steady: ON Semiconductor Corporation (No. 5), Snell & Wilmer L.L.P. (No. 8), Pinnacle Capital West Corporation (No. 9), Avnet, Inc. (No. 22) and Services Group of America, Inc. (No. 23) have appeared on all three rankings released since 2010

  • Welcome Back: Banner Health re-joins the list at No. 25, having fallen off in 2012

  • Average account balance for plans listed is $110,474

  • Average participation rate for plans on the list is 87.08 percent

  • Average company generosity for plans listed is $4,884; the median is $3,600

  • Average salary deferral for plans listed is $6,757; the median is $6,569

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

Company - Plan Name - BrightScope Rating

1. Valley Anesthesiology Consultants, LTD - Valley Anesthesiology Consultants, LTD Profit Sharing Plan - 90.02

2. Lewis and Roca LLP - Lewis and Roca LLP Retirement Plan - 87.42

3. JDA Software, Inc. - JDA Software, Inc. 401(k) Profit Sharing Plan - 82.70

4. Henkel of America, Inc. - Henkel of America Investment Plan - 82.64

5. ON Semiconductor Corporation - ON Semiconductor 401(k) Plan - 81.64

6. District Medical Group, Inc. - District Medical Group, Inc. Profit Sharing and 401(k) Plan - 81.33 

7. ASML US, Inc. - ASML US Employees' Savings and Retirement Plan - 80.59

8. Snell & Wilmer L.L.P. - Snell & Wilmer Profit Sharing and Savings Plan - 79.62

9. Pinnacle West Capital Corporation - Pinnacle West Capital Corporation Savings Plan - 79.61 

10. Ports America - The Savings and Growth Plan for Ports America Group and Affiliates - 78.83

11. Fennemore Craig, P.C. - Retirement Plan and Trust of Fennemore Craig, P.C. - 78.78

12. Salt River Valley Water Users Association - The Salt River Project Employees' 401(k) Plan - 77.43

13. Freeport-McMoRan Copper & Gold, Inc. - Freeport-McMoRan Copper & Gold, Inc. Employee Capital Accumulation Program - 77.11 

14. APL Limited - APL Smart Plan - 76.43

15. Blue Cross and Blue Shield of Arizona, Inc. - Blue Cross and Blue Shield of Arizona, Inc. 401(k) Savings Plan - 76.02

16. Stantec Consulting, Inc. - Stantec 401(k) Profit Sharing Plan - 75.13

17. Karsten Manufacturing Corporation - Karsten Manufacturing Corporation and Subsidiaries 401(k) Plan - 71.16

18. Phoenix Children's Hospital - Phoenix Children's Hospital 401(k) Investment Plan - 70.98

19. Microchip Technology, Inc. - Microchip Technology, Inc. Savings Plan - 70.91

20. Viad Corp Capital Accumulation Plan - Viad Corp Capital Accumulation Plan - 69.85

21. Empire Southwest LLC - Empire Retirement Savings Plan - 68.55

22. Avnet, Inc. - Avnet 401(k) Plan - 67.59

23. Services Group of America, Inc. - Services Group of America Retirement Plan - 67.56

24. Insight Enterprises, Inc. - Insight Enterprises, Inc. 401(k) Plan - 67.22

25. Banner Health - Banner Health Employees 401(k) Plan - 66.33 

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.