30 Best Large 401(k) Plans in 2016: BrightScope

BrightScope announced seven new names on the top 30 list

BrightScope released on Tuesday its ranking of the 30 best 401(k) plans for 2016, with seven new entrants, including the NFL Player Annuity Program.

BrightScope ranked plans with over $1 billion in assets, using publicly available data from the Department of Labor and Securities and Exchange Commission. However, it noted in a statement that it gets “an increasing amount of its data directly from plan sponsors and recordkeepers.”

(Related: 30 Best Big 401(k) Plans in 2015: BrightScope)

“This is our eighth year compiling the year-end Top 30 ratings list, and yet again we see companies offering higher quality plans,” Brooks Herman, head of data and research at BrightScope, said in the statement.

Herman noted that average plan ratings have improved each year that BrightScope has published the list. “This demonstrates that America’s employees and employers recognize how critical a high-quality 401(k) plan is to maintaining an acceptable standard of living in retirement,” he said.

The plans in the top 30 have an average participation rate over 96%, according to BrightScope, and participants are deferring an average $14,500. Employers contributed an average $13,000 per participant.

About 41% of assets held in the top 30 401(k) plans are in index funds, BrightScope found, up 6% from last year. Target-date funds represent 10% of assets.

The BrightScope rating is a proprietary algorithm based on more than 200 data points within broader categories, such as plan costs, company generosity and investment menu quality. This year's top-ranked plans are:

IBM (Photo: AP)

30. IBM 401(k) Plus Plan

  • 2016 Rating: 87.38
  • 2015 Rank: N/A
  • Net Assets: $46.81 billion

29. Delphi Salaried Retirement Savings Program

  • 2016 Rating: 87.39
  • 2015 Rank: N/A
  • Net Assets: $1.7 billion

28. Federal Express (FedEx) Corp. Pilots’ Retirement Savings Plan

  • 2016 Rating: 87.44
  • 2015 Rank: N/A
  • Net Assets: $1.55 billion

27. ExxonMobil Savings Plan

  • 2016 Rating: 87.75
  • 2015 Rank: 15
  • Net Assets: $19.76 billion

26. Sanofi U.S. Group Savings Plan

  • 2016 Rating: 87.76
  • 2015 Rank: 26
  • Net Assets: $4.96 billion

Shell Gas Station (Photo: AP)

25. MillerCoors LLC Employees’ Retirement and Savings Plan

  • 2016 Rating: 87.83
  • 2015 Rank: N/A
  • Net Assets: $1.52 billion

24. Shell Provident Fund

  • 2016 Rating: 87.95
  • 2015 Rank: 22
  • Net Assets: $9.95 billion

23. Bristol-Myers Squibb Company Savings and Investment Program

  • 2016 Rating: 87.95
  • 2015 Rank: 27
  • Net Assets: $5 billion

22. Latham & Watkins 401(k) Savings and Profit Sharing Plan

  • 2016 Rating: 87.99
  • 2015 Rank: 23
  • Net Assets: $1.19 billion

21. Federal National Mortgage Association (Fannie Mae) Retirement Savings Plan for Employees

  • 2016 Rating: 88.09
  • 2015 Rank: 29
  • Net Assets: $1.78 billion

Marathon Oil Company (Photo: AP)

20. Marathon Oil Company Thrift Plan

  • 2016 Rating: 88.18
  • 2015 Rank: N/A
  • Net Assets: $1.05 billion

19. Bechtel Trust & Thrift Plan

  • 2016 Rating: 88.19
  • 2015 Rank: 13
  • Net Assets: $4.73 billion

18. Phillips 66 Savings Plan

  • 2016 Rating: 88.23
  • 2015 Rank: 21
  • Net Assets: $4.31 billion

17. Allergan Inc. Savings and Investment Plan

  • 2016 Rating: 88.26
  • 2015 Rank: 30
  • Net Assets: $1.43 billion

16. Pfizer Savings Plan

  • 2016 Rating: 88.27
  • 2015 Rank: 16
  • Net Assets: $10.87 billion

Google, Inc.

15. Southern California Permanente Medical Group (Kaiser Permanente) Keogh Plan

  • 2016 Rating: 88.36
  • 2015 Rank: 14
  • Net Assets: $3 billion

14. NFL Player Annuity Program

  • 2016 Rating: 88.56
  • 2015 Rank: N/A
  • Net Assets: $1.05 billion

13. BP Employee Savings Plan

  • 2016 Rating: 88.64
  • 2015 Rank: 10
  • Net Assets: $6.94 billion

12. Google Inc. 401(k) Savings Plan

  • 2016 Rating: 88.85
  • 2015 Rank: 18
  • Net Assets: $5.79 billion

11. Anadarko Employee Savings Plan

  • 2016 Rating: 89.13
  • 2015 Rank: 11
  • Net Assets: $1.57 billion

Bayer Corporation

10. UPS/IPA Defined Contribution Money Purchase Pension Plan

  • 2016 Rating: 89.23
  • 2015 Rank: 7
  • Net Assets: $1.29 billion

9. Takeda Pharmaceuticals U.S.A. Inc. Savings and Retirement Plan

  • 2016 Rating: 89.41
  • 2015 Rank: 25
  • Net Assets: $1.48 billion

8. Chevron Employee Savings Investment Plan

  • 2016 Rating: 89.58
  • 2015 Rank: 9
  • Net Assets: $17.09

7. Bayer Corp. Savings and Retirement Plan

  • 2016 Rating: 89.74
  • 2015 Rank: 19
  • Net Assets: $4.26 billion

6. Amgen Retirement and Savings Plan

  • 2016 Rating: 89.84
  • 2015 Rank: 3
  • Net Assets: $3.99 billion

Gary Kelly, CEO of Southwest Airlines. (Photo: AP)

5. ConocoPhillips Savings Plan

  • 2016 Rating: 90.09
  • 2015 Rank: 8
  • Net Assets: $6.88 billion

4. Southwest Airlines Pilots’ Retirement Savings Plan

  • 2016 Rating: 90.92
  • 2015 Rank: 4
  • Net Assets: $3.2 billion

3. The Savings Plan of Saudi Arabian Oil Co.

  • 2016 Rating: 91.15
  • 2015 Rank: 2
  • Net Assets: $1.95 billion

2. NFL Player Second Career Savings Plan

  • 2016 Rating: 91.7
  • 2015 Rank: 1
  • Net Assets: $1.78 billion

1. Delta Pilots Savings Plan

  • 2016 Rating: 92.62
  • 2015 Rank: N/A
  • Net Assets: $7.53 billion

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