SAN DIEGO, CA--(Marketwired - Nov 5, 2013) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 companies in the Cincinnati area with the highest ranked 401k plans containing more than $100 million in assets.
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.
"As one of the most powerful and popular retirement savings vehicles, the efficiency of 401k plans is increasingly important because most Americans rely heavily on them for future financial security," said Dan Weeks, Co-Founder of BrightScope. "From pharmaceuticals to steel companies, these Cincinnati-based companies are helping to ensure a successful and dignified retirement for their employees."
Noteworthy findings in the 2013 Top 25 Cincinnati 401k Plans list include:
- Toyota places on its second BrightScope list year: Toyota's Motor Engineering & Manufacturing Salaried 401(k) Plan and Trust ranked #12 on BrightScope's Top 25 Automotive Companies with the Best 401k Plans and squeezes in at #25 on this list
- Average account balance for plans listed is $118,143
- 92.95% is the average participation rate for plans on the list
- Average company generosity for plans listed is $5,061; the median is $4,118
- Average salary deferral for plans listed is $6,275; the median is $6,374
Top 25 Cincinnati Area companies with the highest ranked 401k plans containing more than $100 million in assets:
Company - Plan Name - BrightScope Rating
1. Taft, Stettinius & Hollister LLP - Taft, Stettinius & Hollister LLP Thrift Savings and Retirement Plan - 87.43
2. ABX Air, Inc. - ABX Air, Inc. Pilots Investment Plan - 85.88
3. Teradata Corporation - Teradata Savings Plan - 82.07
4. Dinsmore & Shohl, LLP - The Dinsmore & Shohl, LLP Savings and Investment Plan - 82.03
5. Keating Muething & Klekamp PLL - Keating Muething & Klekamp 401(k) Profit Sharing Plan - 81.89
6. Scripps Networks Interactive, Inc. - The Scripps Networks Interactive 401(k) Savings Plan - 79.68
7. The Procter & Gamble Company - The Procter & Gamble Profit Sharing Trust and Employee Stock Ownership Plan - 78.68
8. American Financial Group, Inc. - American Financial Group 401(k) Retirement and Savings Plan - 78.63
9. NewPage Corporation - NewPage Retirement Savings Plan - 78.33
10. AK Steel Corporation - AK Steel Corporation Thrift Plan - Plan Document A - 77.87
11. GK Technologies, Incorporated - General Cable Retirement and Savings Plan for Salaried Associates - 77.38
12. Centrica US Holdings, Inc. - Direct Energy US 401(k) Plan - 77.33
13. Robbins and Myers, Inc. - Robbins and Myers, Inc. Retirement Savings Plan - 76.96
14. Omya Industries, Inc. - Omya Industries, Inc. 401(k) Savings Plan - 76.86
15. Cincinnati Bell Inc. - Cincinnati Bell Retirement Savings Plan - 76.85
16. The David J. Joseph Company - Joseph Group Salaried Retirement Plan - 76.26
17. Dayton Power and Light Company - The Dayton Power and Light Company Employee Savings Plan - 75.12
18. Kao America, Inc. - Kao America, Inc. 401(k) Savings Plan - 74.76
19. North American Stainless - North American Stainless Savings Plan - 74.20
20. Mazak Corporation - Mazak Employee Shared Savings Plan - 73.49
21. AK Steel Corporation - AK Steel Corporation Thrift Plan - Plan Document C - 73.32
22. Patheon Pharmaceuticals Inc. - Patheon Pharmaceuticals Retirement Savings Plan - 72.44
23. Premier Health Care Services, Inc. - Premier Health Care Services, Inc. Pension Plan - 72.35
24. Hill-Rom Holdings, Inc. - Hill-Rom, Inc. Savings Plan - 72.34
25. Toyota Motor Engineering & Manufacturing North America, Inc. - Toyota Motor Engineering & Manufacturing Salaried 401(k) Plan and Trust - 72.20
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.
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 nearly 50,000 retirement plans as well as rating definitions, criteria and methodologies, and information on nearly 600,000 financial advisors and nearly 40,000 advisory firms are available for free at www.brightscope.com.
- 401k plan