Brightscope, the San Diego financial research firm, released its top 25 companies list for best 401(k) plans in the financial and insurance industries.
Using a proprietary rating system that analyzes more than 200 data points, the company calculates a single numerical value for each plan. The data examined cover broad categories such as total plan cost, company matching, and the investment choices available, Brightscope said.
“By offering robust 401(k) plans, these companies demonstrate their knowledge firsthand by promoting a promising financial future for their own employees,” said Mike Alfred, chief executive officer and co-founder of Brightscope.
The top five companies on the list are: Wellington Retirement and Pension Plan; American Century Services LLC; General Re Corp.; Assured Guaranty Corp.; and Dodge & Cox.
Among the data found on the top companies on the list was: the average account balance of $188,000; a 97 percent participation rate; average company matching of $13,700; and average salary deferral of $10,500.
Brightscope said it has rated nearly 50,000 401(k) plans, spanning more than 30 million workers and more than $2 trillion in assets.
— SDBJ Staff Report