Who Sponsors the Top 401(k) Plans?

BrightScope rates the plans with $1 billion or more in assets.

This news item original appear on WealthManagerWeb.com on 12/8.

While many Americans must rely on themselves to save and invest for retirement in defined-contribution plans, some companies excel in supporting their employees with great 401(k) programs. Which companies do the best job? The answer to that question may be right here: BrightScope has announced its inaugural Year-End Top 30 Ratings List of the best 401(k) plans with $1 billion or more in assets.

The investment research and data analytics software firm has created the The BrightScope Rating, a quantitative rating system that analyzes 200-plus data points gathered from 401k record keepers and plan sponsors as well as public data from the Department of Labor and SEC. BrightScope developed the rating method in collaboration with "leading academics and independent 401(k) fiduciaries," and rates "each 401(k) plan in the country." BrightScope's rating metrics include "total plan cost, company generosity and investment menu quality," according to the December 8th announcement.

"These top 30 401(k) plans demonstrate the best of the best when it comes to fee structures, company generosity, participation rates, salary deferrals, and other quantitative factors," Mike Alfred, CEO and co-founder of BrightScope, stated in the release.

BrightScope's Top 30 401(k) Plans with more than $1 billion in assets:

Plan Name

Rating

Location

  1. The Savings Plan of Saudi Arabian Oil Company

92.89

Houston, TX

  1. United Airlines Pilot Directed Account Plan

90.59

Chicago, IL

  1. Wellington Retirement and Pension Plan

88.66

Boston, MA

  1. Southwest Airlines Pilots Retirement Savings Plan

86.68

Dallas, TX

  1. SchwabPlan Retirement Savings and Investment Plan

86.15

San Francisco, CA

Plan Name

Rating

Location

  1. ConocoPhillips Savings Plan

86.13

Bartlesville, OK

  1. Chevron Employee Savings Investment Plan

86.04

San Ramon, CA

  1. ExxonMobil Savings Plan

85.84

Houston, TX

  1. Employees' Savings and Retirement Plan of Credit Suisse Securities (USA), LLC

85.83

New York, NY

  1. Amgen Retirement and Savings Plan

85.69

Thousand Oaks, CA

  1. Nucor Corporation Profit Sharing and Retirement Savings Plan

85.61

Charlotte, NC

  1. BP Employee Savings Plan

85.43

Houston, TX

  1. Pharmacia Savings Plan - Pfizer Inc.

85.01

Peakpack, NJ

  1. PACCAR Inc Savings Investment Plan

84.77

Bellevue, WA

  1. The Cargill Partnership Plan

83.58

Minneapolis, MN

  1. Textron Savings Plan

83.57

Providence, RD

  1. Valero Energy Corporation Thrift Plan

83.53

San Antonio, TX

  1. Freescale 401(k) Retirement Savings Plan

82.68

Austin, TX

  1. The 401(k) Savings and PSP of The McGraw-Hill, Inc. and its Subsidiaries

82.56

New York, NY

  1. Bayer Corporation Savings and Retirement Plan

82.52

Pittsburgh, PA

  1. UBS Savings and Investment Plan

82.49

Stamford, CT

  1. Schering-Plough Employees' Savings Plan

82.42

Kenilworth, NJ

  1. GlaxoSmithKline Retirement Savings Plan

82.21

Philadelphia, PA

  1. Motorola, Inc. 401(k) Plan

82.16

Schaumburg, IL

  1. Avaya Inc. Savings Plan for Salaried Employees

82.13

Basking Ridge, NJ

  1. Nortel Networks Long-Term Investment Plan

81.57

Nashville, TN

  1. Federal Express Corporation Pilots' Retirement Savings Plan

81.34

Memphis, TN

  1. IBM Savings Plan

81.29

Armonk, NY

  1. Lockheed Martin Corporation Salaried Savings Plan

81.26

Bethesda, MD

  1. General Dynamics Corporation Savings and Stock Investment Plan (Plan 4.5)

81.05

Falls Church, VA

Comments? Please send them to kmcbride@wealthmanagerweb.com. Kate McBride is editor in chief of Wealth Manager and a member of The Committee for the Fiduciary Standard.

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