SAN DIEGO, CA--(Marketwire - Feb 5, 2013) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced the Top 25 law firms with the highest ranked 401k plans containing more than $100 million in assets. This is the first list in a new series that BrightScope will regularly issue to highlight the strongest plans within leading industries across the nation.
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.
"While each industry is vastly different, the need for easily accessible data and insight into 401k plans is universal," said Mike Alfred, CEO and co-founder of BrightScope. "Like all of our lists, this information is meant to encourage workers to easily evaluate their own retirement plans, gain a deeper understanding of its components, and push sponsors for more robust and financially beneficial plans."
Top 25 law firms with the highest ranked 401k plans containing more than $100 million in assets:
Company - Plan Name - BrightScope Rating
1. Sullivan & Cromwell LLP - Retirement Plan of Sullivan & Cromwell LLP - 92.55
2. O'Melveny & Myers LLP - O'Melveny & Myers LLP Keogh Plan - 91.94
3. Jones Day - Jones Day Retirement Plan - 90.61
4. Simpson Thacher & Bartlett LLP - Simpson Thacher & Bartlett LLP Supplemental Profit Sharing Plan for Partners - 89.89
5. Stroock & Stroock & Lavan LLP - Stroock & Stroock & Lavan LLP Retirement Plan and Trust for Partners - 88.91
6. Weil, Gotshal & Manges, LLP - Weil, Gotshal & Manges Partners' Target Pension Plan - 88.40
7. Bradley Arant Boult Cummings LLP - Bradley Arant Boult Cummings LLP Profit Sharing Retirement Plan - 87.94
8. Fish & Richardson, PC - Fish & Richardson Profit Sharing 401k Plan - 87.78
9. Covington & Burling LLP - Covington & Burling Retirement Savings Plan - 87.55
10. Taft, Stettinius & Hollister LLP - Taft, Stettinius & Hollister LLP Thrift Savings and Retirement Plan - 87.43
11. Briggs and Morgan, Professional Association - Briggs and Morgan, Professional Association Profit Sharing Plan - 87.32
12. Paul Hastings LLP - Paul Hastings LLP Defined Contribution Retirement Plan - 87.25
13. Allen, Matkins, Leck, Gamble, Mallory & Natsis LLP - Allen Matkins Profit Sharing and 401(k) Plan - 87.23
14. Shearman & Sterling LLP - Shearman & Sterling LLP Partners Retirement Plan - 87.23
15. Lindquist & Vennum PLLP - Lindquist & Vennum PLLP Profit Sharing Retirement Plan and Trust - 87.19
16. Reed Smith LLP - Reed Smith LLP Deferred Profit Sharing Plan - 86.97
17. Skadden, Arps, Slate, Meagher & Flom, LLP - Skadden, Arps, Slate, Meagher & Flom Retirement Plan - 86.86
18. Pillsbury Winthrop Shaw Pittman LLP - Pillsbury Winthrop Shaw Pittman LLP Retirement Savings Plan No. 1 - 86.85
19. Irell & Manella LLP - Irell & Manella Profit Sharing Plan - 86.73
20. Saul Ewing LLP - The Saul Ewing Retirement Plan - 86.65
21. Arnold & Porter LLP - Arnold & Porter LLP Profit-Sharing and 401(k) Plan and Trust - 86.65
22. Honigman Miller Schwartz and Cohn LLP - Honigman Miller Schwartz and Cohn LLP Income Deferral and Profit Sharing Plan - 86.60
23. Akin Gump Strauss Hauer & Feld, LLP - Akin Gump Strauss Hauer & Feld, L.L.P. Section 401(k) Profit Sharing Plan - 86.59
24. Barnes & Thornburg LLP - Barnes & Thornburg LLP Profit Sharing Plan and Trust - 86.50
25. Finnegan, Henderson, Farabow, Garrett & Dunner, LLP - Finnegan, Henderson, Farabow, Garrett & Dunner, L.L.P. Profit Sharing Plan - 86.47
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 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 www.brightscope.com.