SAN DIEGO, CA--(Marketwired - Aug 27, 2013) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 companies in the Chicago 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.
"Chicago's highest-scoring plans continue to be among the country's highest ranked, showing strong plans over a range of industries," said Dan Weeks, Co-Founder of BrightScope. "The employees of these 'Windy City' companies can feel confident in their financial futures, knowing their employers continue to offer what's needed to help prepare for a comfortable retirement."
Noteworthy findings in the 2013 Top 25 Chicago 401k Plans list include:
- First Appearances: Citadel LLC (# 9), SSAB Enterprises, LLC (# 14), SSI (U.S.), Inc. d/b/a Spencer Stuart (# 16), Baker & McKenzie LLP (# 20), and Griffith Laboratories, Inc. (# 24) enter the rankings this year
- Greatest Leap: Tellabs, Inc. jumps 7 spots from #12 up to #5 this year
- Largest Drop: Takeda Pharmaceuticals North America, Inc. slid 11 spots from #6 to #17
- Average account balance for plans listed is $165,128
- 94.67% is the average participation rate for plans on the list
- Average company generosity for plans listed is $10,609; the median is $10,337
- Average salary deferral for plans listed is $9,416; the median is $9,366
Top 25 Chicago-area companies with the highest ranked 401k plans containing more than $100 million in assets:
Company - Plan Name - BrightScope Rating
1. United Air Lines, Inc. - United Airlines Pilot Directed Account Plan - 89.17
2. CC Industries, Inc. - CC Industries and Affiliates Retirement Savings Plan for Salaried Employees - 87.67
3. William Blair & Company, LLC - William Blair & Company Deferred Profit Sharing Plan - 87.32
4. Astellas US LLC - Astellas US Retirement and Savings Plan - 87.09
5. Tellabs, Inc. - Tellabs 401(k) Plan - 86.48
6. Kirkland & Ellis, LLP - Kirkland & Ellis LLP 401(k) Savings Plan - 86.44
7. The HAVI Group Limited Partnership - The HAVI Group Limited Partnership Profit Sharing and Savings Plan - 86.41
8. Jenner & Block - Jenner & Block Profit Sharing Plan - #201 - 86.30
9. Citadel LLC - Citadel LLC Retirement Savings Plan - 86.17
10. Katten Muchin Rosenman LLP - Katten Muchin Rosenman LLP Defined Contribution Plan - 86.01
11. SNR Denton US LLP. - SNR Denton US LLP Profit Sharing Plan - 85.89
12. Bain & Company, Inc. - Bain & Company, Inc. 401(k) Savings Plan - 85.80
13. Nalco Company - Nalco Company Profit Sharing and Savings Plan - 85.67
14. SSAB Enterprises, LLC - SSAB Enterprises, LLC Retirement Savings and Profit Sharing Plan - 85.61
15. McDermott, Will & Emery, LLP - MW&E Savings and Retirement Plan - 85.60
16. SSI (U.S.), Inc. d/b/a Spencer Stuart - Spencer Stuart Retirement Benefits Plan - 85.48
17. Takeda Pharmaceuticals North America, Inc. - Takeda Pharmaceuticals North America, Inc. Savings and Retirement Plan - 85.23
18. Mead Johnson & Company, LLC - Mead Johnson & Company Retirement Savings Plan - 85.18
19. Heidrick & Struggles, Inc. - Heidrick & Struggles, Inc. 401(k) Profit Sharing and Retirement Plan - 84.56
20. Baker & McKenzie LLP - Baker & McKenzie (Illinois) Profit Sharing and 401(k) Plan - 84.41
21. A.T. Kearney, Inc. - A.T. Kearney, Inc. 401(k) and Profit Sharing Retirement Plan - 84.31
22. Vedder Price, P.C. - Vedder Price, P.C. Profit Sharing and Retirement Plan - 84.28
23. Mayer Brown LLP - Mayer Brown LLP U.S.A. Savings Plan - 84.05
24. Griffith Laboratories, Inc. - Griffith Supplemental Retirement and Savings Plan - 83.90
25. Winston & Strawn LLP - Winston & Strawn LLP Retirement Plan - 83.87
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.