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 BrightScope Rating, a quantitative rating system that analyzes 200-plus data points gathered from 401(k) 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 |
- The Savings Plan of Saudi Arabian Oil Company
|
92.89 |
Houston, TX |
- United Airlines Pilot Directed Account Plan
|
90.59 |
Chicago, IL |
- Wellington Retirement and Pension Plan
|
88.66 |
Boston, MA |
- Southwest Airlines Pilots Retirement Savings Plan
|
86.68 |
Dallas, TX |
- SchwabPlan Retirement Savings and Investment Plan
|
86.15 |
San Francisco, CA |
|
Plan Name |
Rating |
Location |
- ConocoPhillips Savings Plan
|
86.13 |
Bartlesville, OK |
- Chevron Employee Savings Investment Plan
|
86.04 |
San Ramon, CA |
- ExxonMobil Savings Plan
|
85.84 |
Houston, TX |
- Employees' Savings and Retirement Plan of Credit Suisse Securities (USA), LLC
|
85.83 |
New York, NY |
- Amgen Retirement and Savings Plan
|
85.69 |
Thousand Oaks, CA |
- Nucor Corporation Profit Sharing and Retirement Savings Plan
|
85.61 |
Charlotte, NC |
- BP Employee Savings Plan
|
85.43 |
Houston, TX |
- Pharmacia Savings Plan - Pfizer Inc.
|
85.01 |
Peakpack, NJ |
- PACCAR Inc Savings Investment Plan
|
84.77 |
Bellevue, WA |
- The Cargill Partnership Plan
|
83.58 |
Minneapolis, MN |
- Textron Savings Plan
|
83.57 |
Providence, RD |
- Valero Energy Corporation Thrift Plan
|
83.53 |
San Antonio, TX |
- Freescale 401(k) Retirement Savings Plan
|
82.68 |
Austin, TX |
- The 401(k) Savings and PSP of The McGraw-Hill, Inc. and its Subsidiaries
|
82.56 |
New York, NY |
- Bayer Corporation Savings and Retirement Plan
|
82.52 |
Pittsburgh, PA |
- UBS Savings and Investment Plan
|
82.49 |
Stamford, CT |
- Schering-Plough Employees' Savings Plan
|
82.42 |
Kenilworth, NJ |
- GlaxoSmithKline Retirement Savings Plan
|
82.21 |
Philadelphia, PA |
- Motorola, Inc. 401(k) Plan
|
82.16 |
Schaumburg, IL |
- Avaya Inc. Savings Plan for Salaried Employees
|
82.13 |
Basking Ridge, NJ |
- Nortel Networks Long-Term Investment Plan
|
81.57 |
Nashville, TN |
- Federal Express Corporation Pilots' Retirement Savings Plan
|
81.34 |
Memphis, TN |
- IBM Savings Plan
|
81.29 |
Armonk, NY |
- Lockheed Martin Corporation Salaried Savings Plan
|
81.26 |
Bethesda, MD |
- 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.