SAN DIEGO, CA--(Marketwire - Jul 26, 2012) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced its second annual list of the top Tampa-St. Petersburg area-based companies with the highest ranked 401k plans containing more than $50 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.
"A variety of 401k components, from menu quality to the amount paid in fees, can dramatically impact the financial futures of employees," said Dan Weeks, founder and COO of BrightScope. "That is why we issue these lists -- so other companies, both Florida-based and on the national level, can use these plans as a guide for creating a robust and reliable 401k plan that sets them apart in such a competitive financial environment."
Noteworthy findings in the 2012 Top 25 Tampa-St. Petersburg Area-Based 401k Plans list include:
- Times Publishing Company and Sheridan Healthcorp, Inc. did not make a second appearance on this year's list
- Formerly ranked No. 1, Carlton Fields, P.A. falls to No. 4 on this year's list, replaced by newcomer Holland & Knight LLP
- FCCI Services, Inc. holds its No. 2 spot again this year
- Except for FCCI Services, Inc. all other companies that made a second appearance on this year's list fell at least two spots; TECO Energy, Inc. dropped two spots from No. 3 to No. 5; Anchor Glass Container Corporation fell 15 places from 4th to 19th; Raymond James Financial, Inc. slips 5 ranks from No. 8 to No. 13; The PBSJ Corporation (formerly Post, Buckley, Schuh & Jernigan, Inc.) fell three spots from 6th to 9th; The Watson Clinic LLP fell 11 places from 9th to 20th and Tech Data Corporation dropped 14 ranks from 10th to 24th
- Notable Newcomers on this year's list include Syniverse Technologies, Inc.; PricewaterhouseCoopers, LLP; GE Security, Inc.; Informa Support Services, Inc. and CGI Technologies and Solutions, Inc., among others
Company - Plan Name - BrightScope Rating
1. Holland & Knight LLP - Holland & Knight Profit Sharing Plan and Trust - 80.48
2. FCCI Services, Inc. - FCCI Services, Inc. 401(k) Profit Sharing Plan - 79.80
3. Syniverse Technologies, Inc. - Syniverse Technologies Savings Plan - 79.01
4. Carlton Fields, P.A. - Profit Sharing Plan for Employees of Carlton Fields, P.A. - 76.97
5. TECO Energy, Inc. - TECO Energy Group Retirement Savings Plan - 76.89
6. PricewaterhouseCoopers LLP - Savings Plan for Employees and Partners of PricewaterhouseCoopers, LLP - 76.83
7. Florida Progress Corporation - Savings Plan for Employees of Florida Progress Corporation - 75.89
8. Gerdau Ameristeel US, Inc. - Gerdau Ameristeel US 401(k) Retirement Plan - 75.02
9. The PBSJ Corporation - The PBSJ Corporation Employee Profit Sharing Plan - 74.98
10. GE Security, Inc. - GES Retirement Plan - 73.94
11. Sun Hydraulics Corporation - Sun Hydraulics Corporation 401(k) and ESOP Retirement Plan - 73.16
12. Catalina Marketing Corporation - Catalina Marketing Corporation 401(k) Savings and Retirement Plan - 73.16
13. Raymond James Financial, Inc. - Raymond James Financial, Inc. 401(k) Plan - 73.09
14. Masonite Corporation - Masonite Savings Plan - 72.84
15. Roper Industries, Inc. - Roper Industries, Inc. Employees' Retirement Savings 003 Plan - 72.67
16. CAE USA, Inc. - CAE USA, Inc. Savings, Investment and Employee Benefit Plan Number 1 - 72.56
17. Roper Industries, Inc. - Roper Industries, Inc. Employees' Retirement Savings 004 Plan - 71.93
18. Informa Support Services, Inc. - Institute for International Research Group 401(k) Plan - 71.57
19. Anchor Glass Container Corporation - Anchor Glass Container Corporation Salaried Employees' Savings Plan and Trust - 71.52
20. The Watson Clinic LLP - Watson Clinic LLP Profit Sharing Plan - 68.97
21. Florida Medical Clinic, P.A. - Florida Medical Clinic, P.A. 401(k) Plan and Trust - 68.65
22. CGI Technologies and Solutions, Inc. - CGI Technologies and Solutions, Inc. 401(k) Savings Plan - 68.31
23. Jabil Circuit, Inc. - Jabil 401(k) Retirement Plan - 67.73
24. Tech Data Corporation - Tech Data Corporation 401(k) Savings Plan - 66.81
25. Gerdau Ameristeel US, Inc. - Gerdau Ameristeel US Savings Plan - 66.81
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.
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 nearly 50,000 advisory firms are available for free at www.brightscope.com.