Today, Judy Diamond Associates released an analysis of the best states in which to have a 401(k) plan.
Rankings were based on the percent of 401(k) plans receiving top Plan Scores for all 401(k) plans in each state. Judy Diamond calculates Plan Scores with an exclusive algorithm that considers key measures of the strength of a plan’s design, management and performance, as well as how each of those metrics compares to nationwide benchmarks. Plan scores are available in Retirement Plan Prospector, Judy Diamond Associates’ 401(k) analysis and lead generation database. Plans receive scores up to 100 based on information they report to the Department of Labor annually. A top score is any score above 80.