Seven new companies in the Top 30 List this year.
BrightScope (a Strategic Insight business), the leading provider of independent financial information and investment research to the USA retirement industry, is proud to announce the eighth BrightScope year-end ranking of the Top 30 401k Plans List, recognizing companies with the best 401k plans containing more than $1 billion in assets.
“This is our eighth year compiling the year-end Top 30 ratings list, and yet again we see companies offering higher quality plans,” said Brooks Herman, Head of Data & Research at BrightScope. “We have witnessed average plan ratings improve each year in the Top 30 List – and this year is no different. This demonstrates that America’s employees and employers recognize how critical a high quality 401k plan is to maintaining an acceptable standard of living in retirement.”
Key Statistics of BrightScope’s Top 30 List:
Noteworthy findings since BrightScope’s last release of this list:
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.
The BrightScope Rating was developed by BrightScope, Inc. with the help of leading academics and independent 401k fiduciaries. By analyzing more than 200 individual data points, the BrightScope Rating algorithm calculates a single numerical value for each 401k plan. 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 and 403b plans, spanning more than 57 million workers and over $3 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.