SOURCE: BrightScope

BrightScope

May 18, 2010 09:00 ET

BrightScope Reveals the Top 10 Washington, D.C.-Based Companies With the Best 401K Plans

Notable Companies Include: Lockheed Martin Corporation, Federal Home Loan Mortgage Corporation and Financial Industry Regulatory Authority, Inc.

SAN DIEGO, CA--(Marketwire - May 18, 2010) -  BrightScope (www.brightscope.com), the leading independent provider of retirement plan ratings, today announced the Top 10 Washington, D.C.-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.

"It's important for us to highlight and praise those companies that are going above and beyond when it comes to their 401k plan," said Mike Alfred, CEO and co-founder of BrightScope. "We're pleased to recognize these well-known D.C.-based companies and the notable mentions like AARP and Capital One." 

Top 10 Washington, D.C.-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. The AES Corporation - The AES Corporation Retirement Savings Plan - 85

2. Arnold & Porter LLP - Arnold & Porter LLP Profit Sharing and 401k Plan & Trust - 84

3. Finnegan, Henderson, Farabow, Garrett & Dunner, L.L.P. - Finnegan, Henderson, Farabow, Garrett & Dunner, LLP Profit Sharing Plan - 84

4. Patton Boggs LLP - Patton Boggs LLP Retirement Plan - 84

5. Scitor Corporation - Scitor Corporation Salary Savings and Profit Sharing Plan - 84

6. Financial Industry Regulatory Authority, Inc. - FINRA, Inc. Savings Plus Plan (formerly NASD, Inc. Savings Plus Plan) - 84

7. Federal Home Loan Mortgage Corporation - Federal Home Loan Mortgage Corporation Thrift/ 401k Plan - 83

8. Covington & Burling LLP - Covington & Burling Retirement Savings Plan - 83

9. Arent Fox PLLC - Arent Fox LLP Profit-Sharing Plan No. 1 - 82

10. Lockheed Martin Corporation - Lockheed Martin Corporation Salaried Savings Plan - 81

Notable companies that did not make the list are the Federal National Mortgage Association (#11), General Dynamics (#13), Capital One (#14), and AARP (#19).

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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