We are pleased to announce our 2013 list of the Top 25 401(k) plans (containing more than $100 million in assets) in the San Francisco Bay Area.
“Spanning across industries from tech and financial to pharmaceuticals and entertainment, the plans on this year’s list show the breadth of quality in the SF Bay Area,” said Dan Weeks, Co-Founder of BrightScope. “Plan ratings have increased across the board, as plan sponsors continue to improve offerings and maximize the chance of their teams’ future financial security.”
Noteworthy observations in this list include:
- First Appearances: Dodge & Cox (# 1), Elan Pharmaceuticals (# 2), Yahoo! Inc. (# 15), LSI Corporation (# 16), Visa Inc. (# 23), Juniper Networks, Inc. (#24) and Avago Technologies, Inc. (# 25) enter the rankings this year
- Greatest Leap: Cooley, LLP rocketed 16 spots from #25 up to #9 this year
- Largest Drop: Bechtel Corporation slid 10 spots from #3 to #13
- Average account balance for plans listed is $151,329
- 94.77% is the average participation rate for plans on the list
- Average company generosity for plans listed is $8,605; the median is $8,047
- Average salary deferral for plans listed is $11,665; the median is $11,858
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 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.
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.