SOURCE: BrightScope

BrightScope

September 28, 2010 09:00 ET

BrightScope Reveals the Top 10 Baltimore Area-Based Companies With the Best 401K Plans

Lockheed Martin Corporation Comes in at No. 3 Revealing That the $16 Billion in Net Assets the Plan Contains Are Well Managed

SAN DIEGO, CA--(Marketwire - September 28, 2010) -  BrightScope (www.brightscope.com), the leading independent provider of retirement plan ratings, today announced the Top 10 Baltimore area-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.

"By interpreting the common and often overlooked components that make up 401k plans, such as company generosity, investment menu quality and fees paid, BrightScope allows participants to better understand the factors that drive a successful retirement," said Mike Alfred, CEO and co-founder of BrightScope. "All of the plans on Baltimore's Top 10 List have an above average rating -- something we have rarely seen in our analysis of plans across the country -- and that bodes well for the region's economic future."

Top 10 Baltimore area-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. Savings Board of The NFL Player Second Career Savings Plan -- NFL Player Second Career Savings Plan -- 89

2. Mid-Atlantic Permanente Medical Group, P.C. -- Mid-Atlantic Permanente Medical Group, P.C. 401k Plan -- 86

3. Lockheed Martin Corporation -- Lockheed Martin Corporation Salaried Savings Plan -- 82

4. MedImmune, Inc. -- MedImmune, Inc. 401k Plan -- 81

5. ARINC Incorporated -- ARINC, Inc. Tax Deferred Savings Plan -- 81

6. Legg Mason, Inc. -- The Legg Mason Profit Sharing and 401k Plan and Trust -- 80

7. Venable LLP -- Venable LLP Retirement Plan -- 79

8. T. Rowe Price Group -- T. Rowe Price US Retirement Program -- 79

9. USEC Inc. -- USEC Savings Program -- 75

10. Westat, Inc. -- Westat, Inc. Savings Plan -- 75

Notable mentions not included in Baltimore's Top 10 List include: Black & Decker (U.S.) Inc. (No. 12), Coventry Health Care, Inc. (No. 13), CareFirst, Inc. (No. 14), Sprinkler Industry Supplemental Pen Fund Joint Board Of Trustees (No. 17) and W.R. Grace & Co. (No. 18).

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 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 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

  • Meri Morris
    Atomic PR for BrightScope
    415-593-4031
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