BrightScope is pleased to announce the release of our third annual list of the top Houston area-based companies with the highest ranked 401k plans containing more than $100 million in assets.
“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
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.
*DISCLAIMER: Ratings continually change as data is updated over time. Ratings should be viewed as a “snapshot in time.” To view current ratings information for a given plan click to view the company’s plan page. The rating on the plan page may not match the rating at the time of the release of the rankings.