BrightScope Announces the Top 25 Houston Area-Based Companies With the Best 401k Plans
Newcomer Marathon Oil Company Takes the Top Spot on BrightScope's Third Annual List of the Region's Top Plans; Saudi Arabian Oil Company Bumped to No. 2
(firmenpresse) - SAN DIEGO, CA -- (Marketwired) -- 07/16/13 -- BrightScope (), a leading provider of independent financial information and investment research, today announced its third annual list of the top Houston area-based companies 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.
"Houston's top 401k plans, while impressive in the past, keep getting better year over year -- now we see higher ratings from the top to bottom of this prestigious list," said Dan Weeks, Co-Founder of BrightScope. "A secure financial future for employees becomes ever more feasible when employers make the types of improvements to plans that we are observing from Houston-based companies."
Noteworthy findings in the 2013 Top 25 Houston 401k Plans list include:
First Appearances: Marathon Oil Company (No. 1), BHP Holdings International, Inc. (No. 4), Plains Exploration and Production Company (No. 7), Chevron Phillips Chemical Company LP (No. 18), and CGGVeritas Services (U.S.) Inc. (No. 25) enter the rankings this year
No Shows: Bracewell & Giuliani, LLP, Dynegy Inc., Vinson & Elkins LLP, Calpine Corporation, and Vallourec & Mannesmann Holdings Inc. which appeared on the previous list (in spots 12, 15, 19, 22, and 23, respectively), did not make this year's ranking
Average account balance for plans listed is $218,069
90.13% is the average participation rate for plans on the list
Average company generosity for plans listed is $10,086; the median is $9,271
Average salary deferral for plans listed is $11,472; the median is $10,559
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1. Marathon Oil Company - - 91.69
2. Saudi Arabian Oil Company - - 90.87
3. GenOn Energy Services, LLC - - 88.94
4. BHP Holdings International, Inc. - - 88.87
5. Greater Houston Anesthesiology, P.A. - - 88.39
6. Diamond Offshore Management Company - - 87.34
7. Plains Exploration and Production Company - - 87.00
8. Exxon Mobil Corporation - - 86.88
9. Anadarko Petroleum Corporation - - 86.47
10. BP Corporation North America, Inc. - - 86.26
11. Shell Oil Company - - 86.13
12. Continental Airlines, Inc. - - 85.52
13. Baker Botts, LLP - - 85.49
14. Baker Botts, LLP - - 85.20
15. El Paso Corporation - - 84.81
16. BP Corporation North America, Inc. - - 84.66
17. CITGO Petroleum Corporation - - 84.57
18. Chevron Phillips Chemical Company LP - - 84.40
19. Fayez Sarofim & Co. - - 84.29
20. Solvay America, Inc. - - 84.27
21. Noble Energy, Inc. - - 83.88
22. BMC Software, Inc. - - 83.84
23. GDF SUEZ Energy North America, Inc. - - 83.75
24. INEOS USA, LLC - - 83.58
25. CGGVeritas Services (U.S.) Inc. - - 82.84
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 nearly 600,000 financial advisors and nearly 40,000 advisory firms are available for free at .
Jessica Kipp
Atomic PR for BrightScope
415-593-1400
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Datum: 16.07.2013 - 14:00 Uhr
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