SOURCE: BrightScope

BrightScope

June 28, 2012 10:00 ET

BrightScope Releases the Top 25 Minneapolis Area-Based Companies With the Best 401k Plans

Fish & Richardson, PC and Briggs and Morgan, Professional Association Take the No. 1 and No. 2 Spots on This Year's List as First Time Participants

SAN DIEGO, CA--(Marketwire - Jun 28, 2012) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced its second annual list of the top Minneapolis area-based companies with the highest ranked 401k plans containing more than $100 million in assets. This year BrightScope has extended the list to include the top 25 companies.

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.

"It is apparent that the companies on this list have created high quality and effective 401k plans for their employees, making each of them a standard in which all other companies in the Minneapolis area should strive to imitate," said Dan Weeks, founder and COO of BrightScope. "Our hope with these lists is to inform companies and employees of the components necessary for a successful 401k plan so they know what to request when asking for a better plan."

Noteworthy findings in the 2012 Top 25 Minneapolis area-based 401k Plans list include:

  • Fish & Richardson, PC, Briggs and Morgan, Professional Association and Leonard Street and Deinard Professional Association make their first appearances on this year's list, taking the top three rankings
  • All companies formerly ranked in the top ten have dropped in ranking and formerly ranked No. 4, St. Jude Medical, Inc., fell off the list completely this year: For example, The Mosaic Company dropped 3 spots from No. 1 to No. 4; Fair Isaac Corporation fell 9 places from 2nd to 11th; Imation Corp. slipped from No. 3. to No. 14
  • Newcomers Lindquist & Vennum PLLP (5), M.A. Mortenson Company (6), Piper Jaffray Companies (7), The Valspar Corporation (8) and American Medical Systems, Inc. (10) round out the top ten in this year's list

Company - Plan Name - BrightScope Rating

1. Fish & Richardson, PC - Fish & Richardson Profit Sharing 401(k) Plan - 87.38
2. Briggs and Morgan, Professional Association - Briggs and Morgan, Professional Association Profit Sharing Plan - 87.27
3. Leonard Street and Deinard Professional Association - Leonard Street and Deinard Retirement Plan and Trust - 86.74
4. The Mosaic Company - Mosaic Investment Plan - 85.77
5. Lindquist & Vennum PLLP - Lindquist & Vennum PLLP Profit Sharing Retirement Plan - 85.34
6. M. A. Mortenson Company - M. A. Mortenson Company Profit Sharing and Retirement Savings Plan and Trust - 85.17
7. Piper Jaffray Companies - Piper Jaffray Companies Retirement Plan - 84.41
8. The Valspar Corporation - Valspar Savings and Retirement Plan - 83.81
9. Dorsey & Whitney, LLP - Dorsey & Whitney 401(k) Retirement and Savings Plan - 83.03
10. American Medical Systems, Inc. - AMS Savings & Investment - 82.82
11. Fair Isaac Corporation - Fair Isaac Corporation 401(k) Plan - 82.18
12. MTS Systems Corporation - MTS Retirement Savings Plan - 82.07
13. Great River Energy - Great River Energy 401(k) Savings Plan - 81.86
14. Imation Corp. - Imation Retirement Investment Plan - 81.28
15. Medtronic, Inc. - Medtronic, Inc. Savings and Investment Plan - 80.98
16. Faegre & Benson, LLP - Faegre & Benson Basic Retirement Plan - 80.70
17. Robins, Kaplan, Miller & Ciresi LLP - Robins, Kaplan, Miller & Ciresi L.L.P. Profit Sharing and Savings Plan - 80.22
18. DataCard Corporation - DataCard Corporation Employee Investment Plan - 79.93
19. Xcel Energy, Inc. - Xcel Energy 401(k) Savings Plan - 79.81
20. H.B. Fuller Company - H.B. Fuller Company Thrift Plan - 78.76
21. Ameriprise Financial, Inc. - Ameriprise Financial 401(k) Plan - 78.19
22. C.H. Robinson Worldwide, Inc. - Robinson Companies Retirement Plan - 78.14
23. RBC USA Holding Corporation - RBC-U.S.A. Retirement and Savings Plan - 78.06
24. Tennant Company - Tennant Company Profit Sharing and ESOP Plan - 77.87
25. University of Minnesota Physicians - University of Minnesota Physicians Retirement Savings & 401(k) Plan - 77.81

BrightScope's 401k plan Rating was developed by BrightScope, Inc. with the help of leading academics and independent 401k fiduciaries. Analyzing more than 200 individual data points, the BrightScope Rating algorithm can calculate a single numerical score for each 401k plan in the country. 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 plans, spanning more than 30 million workers and over $2 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 more than 46,000 retirement plans as well as rating definitions, criteria and methodologies, and information on more than 770,000 financial advisors and 45,000 advisory firms are available for free at www.brightscope.com.

Contact Information

  • Katie Carlson
    Atomic PR for BrightScope
    415-593-1400
    Email Contact