SOURCE: BrightScope

BrightScope

May 25, 2010 10:00 ET

BrightScope Reveals the Top 10 Houston-Based Companies With the Best 401k Plans

Notable Companies Include: Exxon Mobil Corporation, Reliant Energy, Inc., Huntsman International LLC and Continental Airlines, Inc

SAN DIEGO, CA--(Marketwire - May 25, 2010) -  BrightScope (www.brightscope.com), the leading independent provider of retirement plan ratings, today announced the Top 10 Houston-based companies 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.

"The 401k has become the most prominent retirement savings vehicle, with the majority of Americans reliant on it for their future. There is a tremendous need for transparency in this traditionally opaque marketplace, but it remains burdened with little visibility into underlying plan construction," said Mike Alfred, CEO and co-founder of BrightScope. "That's why BrightScope created its BrightScope Rating system, the industry standard designed to align participant and decision-maker interests and create clear, objective benchmarks for plan performance."

Top 10 Houston-based companies with the highest ranked 401k plans containing more than $100 million in assets:

Company -- Plan Name -- BrightScope Rating (Rounded to the nearest whole number)

1. Exxon Mobil Corporation -- ExxonMobil Savings Plan -- 86*

2. Dynegy, Inc. -- Dynegy Inc. 401(k) Savings Plan -- 80

3. Baker Botts, LLP -- Baker Botts LLP 401(k) and Savings Plan -- Plan A -- 84

4. CITGO Petroleum Corporation -- CCITGO Petroleum Corporation Employees Retirement And Savings Plan -- 84

5. Reliant Energy, Inc. -- Reliant Energy, Inc. Savings Plan -- 83

6. Anadarko Petroleum Corporation -- Anadarko Employee Savings Plan -- 83

7. Huntsman International LLC -- Huntsman Salary Deferral and Money Purchase Pension Plan -- 83

8. Diamond Offshore Drilling, Inc. -- Diamond Offshore 401(k) Plan -- 82

9. Bracewell & Giuliani, LLP -- Bracewell & Giuliani, LLP 401(k) Plan and Trust -- 82

10. Continental Airlines, Inc. -- Continental Pilots 401(k) Plan -- 81

* represents those companies that made BrightScope 2009 Top 30 401k Plans List

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 more than 45,000 401k plans, spanning more than 30 million workers and over $2 trillion in assets. Industry adoption on 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 committed to helping America's workforce retire in dignity. BrightScope is an independent data analytics firm that quantitatively rates 401k plans and gives employers, employees, and advisors tools to enhance plan performance and maximize retirement outlook. 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 401k plan quality at the company level. BrightScope-published ratings, rating definitions, criteria and methodologies are available on the company's public site, www.brightscope.com.

Contact Information

  • Korina Buhler
    Atomic PR for BrightScope
    415-593-1400
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