SAN DIEGO, CA and RALEIGH-DURHAM, NC--(Marketwire - Sep 27, 2012) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 Raleigh-Durham area-based companies with the highest ranked 401k plans containing more than $50 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.
"The Raleigh-Durham companies on this list should be proud of the depth and strength of the 401k plans they offer their employees," said Dan Weeks, founder and COO of BrightScope. "We are pleased to see that industry standards like the BrightScope Rating are helping educate plan sponsors and recipients about their options and opening the door for successful financial futures."
On October 23, Mr. Weeks, along with Comperio Retirement Consulting, Hughes Pittman & Gupton, Parker Poe Law Firm and a panel of retirement plan experts and plan sponsors, will be speaking at the Seminar where they will be discussing a variety of topics relating to America's 401k programs, including Raleigh-Durham's Top 25 401k Plans list.
"It is vital for plan sponsors in the Raleigh-Durham area to understand the key components that make up a successful 401k plan -- having the expert insights from BrightScope will greatly improve the retirement quality of the local economy," said Jim Sotell, Managing Director of Comperio Retirement Consulting, Inc.
The seminar will begin at 8:00 a.m. on October 23, 2012 at the Brier Creek Country Club in Raleigh. For more information or to attend the event please contact Jim Sotell at jsotell@ComperioRC.com.
Top 25 Raleigh-Durham area-based companies with the highest ranked 401k plans containing more than $50 million in assets:
Company - Plan Name - BrightScope Rating
1. Lenovo United States, Inc. - Lenovo Savings Plan - 85.89
2. Private Diagnostic Clinic, PLLC - The Private Diagnostic Clinic, PLLC Profit-Sharing and 401(k) Savings Plan - 85.59
3. Wake Radiology Consultants, P.A. - Wake Radiology Consultants, P.A. 401(k) Plan - 84.93
4. SAS Institute Inc. - SAS Retirement Plan - 84.75
5. LORD Corporation - LORD Corporation Salaried Exempt Employees' Savings and Retirement Plan - 84.47
6. Progress Energy, Inc. - Progress Energy 401(k) Savings & Stock Ownership Plan - 83.24
7. Tekelec - Tekelec 401(k) Plan - 82.60
8. Freudenberg Nonwovens Limited Partnership - Freudenberg Companies Savings & Investment Plan - 80.28
9. Red Hat, Inc. - Red Hat, Inc. 401(k) and Profit Sharing Plan - 79.85
10. American Institute of Certified Public Accountants - American Institute of Certified Public Accountants Savings Plan- 79.56
11. Kimley-Horn and Associates, Inc. - Kimley-Horn and Associates, Inc. Retirement Savings and Pension Plan - 78.86
12. McM Corporation - McM Corporation Profit Sharing/401(k) Plan - 78.17
13. Blue Cross and Blue Shield of North Carolina - Blue Cross and Blue Shield of North Carolina 401(k) Plan - 76.67
14. bioMerieux, Inc. - bioMerieux, Inc. Employee Savings Plan - 76.16
15. Martin Marietta Materials, Inc. - Martin Marietta Materials, Inc. Performance Sharing Plan - 75.75
16. Elster - Elster/AMCO 401(k) Savings and Retirement Plan - 75.22
17. ABB, Inc. - Personal Retirement Investment and Savings Management Plan for Employees of ABB, Inc. - 75.21
18. Quintiles Transnational Corporation - Quintiles Transnational Corporation 401(k) Plan - 75.16
19. Voith Paper Fabric & Roll Systems, Inc. - Voith Salaried Retirement Savings Plan - 75.11
20. Talecris Biotherapeutics Holdings Corp. - Talecris Biotherapeutics Holdings Corp. Employee Savings Plan - 74.02
21. Sensus USA Inc. - Sensus USA Inc. 401(K) Plan - 73.74
22. Capitol Broadcasting Company, Inc. - Capitol Broadcasting Company, Inc. Retirement Savings Plan - 73.73
23. Cree, Inc. - Cree, Inc. 401(k) Plan - 73.09
24. Blue Cross and Blue Shield of North Carolina - Blue Cross and Blue Shield of North Carolina Retirement Savings Plan - 71.94
25. State Employees Credit Union - State Employees Credit Union Retirement Savings Plan - 71.83
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.
The company has rated more than 46,000 retirement plans, spanning 30 million workers and $2 trillion in assets, and provided information on more than 770,000 financial advisors. 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.