SAN DIEGO, CA--(Marketwired - Dec 10, 2013) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 companies in the Seattle area with the highest ranked 401k plans containing more than $100 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.
"Cities like Seattle are always interesting to observe over time," said Dan Weeks, Co-Founder of BrightScope. "While the city is home to some heavy-hitting companies, there are always new and exciting companies joining the ranks of businesses committed to providing solid 401k plans for their employees."
Noteworthy findings in the 2013 Top 25 Seattle 401k Plans list include:
- Moss Adams and Alaska Airlines maintain their spots as #1 and #2, respectively, on the list for the second year in a row
- New to the list are NAES (#13), F5 Networks (#15), Avanade Inc. (#19), Polyclinic (#22), and PACCAR (#24)
- Weyerhaeuser Company climbed its way back to list after falling off in 2012, coming in at #25
- Both Intermec (#21) and Proliance Surgeons (#23) fell five spots on the list since last year's ranking
- Average account balance for plans listed is $161,740
- 92.74% is the average participation rate for plans on the list
- Average company generosity for plans listed is $7,284; the median is $5,889
- Average salary deferral for plans listed is $8,459; the median is $8,267
Top 25 Seattle Area companies with the highest ranked 401k plans containing more than $100 million in assets:
Company - Plan Name - BrightScope Rating
1. Moss Adams LLP - Moss Adams LLP Profit Sharing 401(k) Plan - Partners and Principals - 90.16
2. Alaska Airlines, Inc. - Alaska Airlines, Inc. Pilots Investment & Savings Plan - 88.95
3. Group Health Permanente - Group Health Permanente Medical Group Pension Plan - 86.53
4. Davis Wright Tremaine, LLP - Davis Wright Tremaine LLP 401(k) Profit Sharing Plan and Trust - 85.86
5. Russell Investment Group - Russell Retirement Plan - 85.53
6. Lane Powell PC - Lane Powell PC 401(k) Profit Sharing Plan - 85.37
7. Perkins Coie LLP - Perkins Coie Retirement and 401(k) Plan - 84.42
8. Microsoft Corporation - Microsoft Corporation Savings Plus 401(k) Plan - 84.23
9. The Boeing Co. & Consolidated Subsidiaries - The Boeing Company Voluntary Investment Plan - 83.23
10. Milliman, Inc. - Milliman, Inc. Profit Sharing and Retirement Plan - 82.68
11. Group Health Permanente - Group Health Permanente 401(k) Plan - 82.11
12. Marine Resources Group, Inc. - MRG 401(k) Plan - 81.95
13. NAES Corporation - NAES Corporation Retirement & 401(k) Plan - 81.65
14. Puget Energy, Inc. - Investment Plan for Employees of Puget Sound Energy, Inc. - 81.63
15. F5 Networks, Inc. - F5 Networks, Inc. 401(k) Profit Sharing Plan and Trust - 81.60
16. Cray, Inc. - Cray, Inc. 401(k) Savings Plan and Trust - 81.44
17. PEMCO Mutual Insurance Company - PEMCO 401(k) Plan - 80.56
18. Univar USA, Inc. - Univar USA, Inc. Valued Investment Plan - 78.93
19. Avanade Inc. - Avanade 401(k) Retirement Plan - 78.26
20. Plum Creek Timberlands, L.P. - Plum Creek Thrift and Profit Sharing Plan - 78.16
21. Intermec, Inc. - Intermec, Inc. 401(k) Retirement Plan - 77.86
22. The Polyclinic, A P.C. - The Polyclinic, A P.C. 401(k) Profit Sharing Plan - 77.58
23. Proliance Surgeons, Inc., P.S. - Proliance Surgeons, Inc., P.S. 401(k) Profit Sharing Plan and Trust - 77.53
24. PACCAR, Inc. - PACCAR, Inc. Savings Investment Plan - 76.69
25. Weyerhaeuser Company - Weyerhaeuser Salaried and NORPAC 401(k) Plan - 76.28
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 nearly 600,000 financial advisors and nearly 40,000 advisory firms are available for free at www.brightscope.com.