SAN DIEGO, CA--(Marketwire -08/09/12)- BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced its second annual list of the top Miami area-based companies with the highest ranked 401k plans containing more than $50 million in assets. This year BrightScope has extended the list to include the top 25 companies.
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.
"We created the BrightScope Rating to calculate a single numerical score for every 401k plan in the country, which brings unprecedented insight to companies and employees interested in the value and components of their 401k plans," said Dan Weeks, founder and COO of BrightScope. "The city of Miami should be proud of the companies on this year's list -- by offering such reliable and robust 401k plans, it is evident that they recognize the importance and necessity of successful retirements for their employees."
Noteworthy findings in the 2012 Top 25 Miami 401k Plans list include:
- All plans that appeared on the previous list dropped at least 3 spots on this year's list - Most notably formerly ranked No. 1 Greenberg Taurig dropped 11 places to No. 12; Board of Trustees American Maritime Officers 401(k) Plan fell 16 ranks from No. 6 to No. 22; Southern Wine and Spirits of America, Inc. slipped 15 spots from 9th to 24th and formerly ranked No. 3 Citrix Systems Inc. fell 6 places to No. 9
- No Shows: Previously ranked No. 7, Ocean Bank, did not make this year's list because of a lower rating of 58.3
- Company changes: Former 4th place holder, Pediatrix Medical Group Inc., now called MEDNAX Service, Inc. dropped 4 spots to 8th place this year's list
- The top 3 spots on this year's list were taken by new companies - ASTAR USA, LLC in 1st place, Albemarle Corporation in 2nd place and Spirit Airlines, Inc. in 3rd place. Other notable newcomers to this year's list are Shutts & Bowen, LLP (No. 5), Elizabeth Arden, Inc. (No. 11), The Berkley Group Inc. (No. 14) and Carnival Cruise Lines, Inc. (No. 20), among others
Company -- Plan Name -- BrightScope Rating
1. ASTAR USA, LLC - ASTAR USA 401(k) Flight Crew Savings Plan - 91.16
2. Albemarle Corporation - Albemarle Corporation Savings Plan - 84.54
3. Spirit Airlines, Inc. - Spirit Airlines, Inc. Pilots' Retirement Savings Plan - 83.47
4. NCCI Holdings, Inc. - NCCI Holdings, Inc. 401(k) Savings Plan - 82.00
5. Shutts & Bowen, LLP - Shutts & Bowen, LLP 401(k) Profit Sharing Plan (A) - 81.11
6. Geosyntec Consultants, Inc. - Geosyntec Consultants, Inc. and Subsidiaries 401(k) Retirement Plan - 80.62
7. Amadeus North America, Inc. - Amadeus North America, Inc. 401(k) Plan - 78.31
8. MEDNAX Services, Inc. - MEDNAX Services, Inc. Thrift and Profit Sharing Plan - 78.15
9. Citrix Systems, Inc. - Citrix Systems, Inc. 401(k) Plan - 78.08
10. The Ultimate Software Group, Inc. - Ultimate Software Group 401(k) Retirement Plan - 76.49
11. Elizabeth Arden, Inc. - Elizabeth Arden 401(k) Plan - 76.24
12. Greenberg Traurig, PA - Greenberg Traurig, PA 401(k) Plan - 74.76
13. Sheridan Healthcorp, Inc. - Sheridan Healthcorp, Inc. and their Identified Subsidiaries and Affiliates 401(k) Profit Sharing Plan - 74.09
14. The Berkley Group Inc. - Thirty Fifteen Employee Stock Ownership Plan - 72.55
15. JM Family Enterprises, Inc. - JM Family Enterprises, Inc. Associates' Profit Sharing Plan - 72.15
16. Hoerbiger Corporation of America, Inc. - Hoerbiger Profit Sharing and 401(k) Plan - 69.74
17. JM Family Enterprises, Inc. - JM Family Enterprises, Inc. Associates' 401(k) Plan - 69.11
18. SEACOR Payroll Management LLC - SEACOR Savings Plan - 68.67
19. DPWN Holdings USA, Inc. - DHL Retirement Savings Plan - 68.01
20. Carnival Cruise Lines, Inc. - Carnival Corporation Fun Ship Savings Plan - 66.75
21. HEICO Corporation - HEICO Corporation Savings and Investment Plan - 66.64
22. Board of Trustees American Maritime Officers 401(k) Plan - American Maritime Officers 401(k) Plan - 66.34
23. Bureau Veritas North America, Inc. - Bureau Veritas Industries and Facilities 401(k) Profit Sharing Plan - 66.30
24. Southern Wine and Spirits of America, Inc. - Southern Wine and Spirits of America, Inc. 401(k) Retirement Plan - 65.16
25. Jarden Corporation - Jarden Corporation Savings and Retirement Plan - 62.25
BrightScope's 401k plan Rating was developed by BrightScope, Inc. with the help of leading academics and independent 401k fiduciaries. Analyzing more than 200 individual data points, the BrightScope Rating algorithm can calculate a single numerical score for each 401k plan in the country. 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 plans, spanning more than 30 million workers and over $2 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.
BrightScope is a financial information company that brings transparency to opaque markets through independent research and analysis. Delivered through web-based software, BrightScope data drives better decision-making for individual investors, corporate plan sponsors, asset managers, broker-dealers, and financial advisors. The BrightScope Rating™, developed in partnership with leading independent 401k fiduciaries, reviews more than 200 unique data inputs per plan and calculates a single numerical score which defines plan quality at the company level. In April 2011, the company launched BrightScope Advisor Pages™, the first comprehensive and publicly available directory of financial advisors designed to help consumers discover information and conduct due diligence on wealth management professionals. BrightScope also markets a suite of data analytics software products to Fortune 1000 companies, asset managers, broker-dealers, financial advisors, and other market participants. Public ratings for more than 46,000 retirement plans as well as rating definitions, criteria and methodologies, and information on more than 770,000 financial advisors and nearly 45,000 advisory firms are available for free at www.brightscope.com.
Atomic PR for BrightScope