Top 401(k) Plans in Boston – 2013

Our 2013 list of the Top 25 401(k) plans (containing more than $100 million in assets) in the Boston area is now available! Wellington Management Company maintains the top spot for the third year in a row, while several first-timers are welcomed to the list.

“It’s great to see that most of the companies that were on the Boston list in 2012 remained on this year’s list, and many have even improved their rating,” said Dan Weeks, Co-Founder of BrightScope. “It’s clear that those companies have continued to make the plan improvements geared towards helping employees reach their retirement goals.”

Noteworthy observations in this list include:

  • First Appearance: New England Biolabs, Boston Scientific Corporation, Kronos Incorporated, Simpson Gumpertz & Heger, Goodwin Procter, NSTAR, and Bull HN Information Systems
  • Greatest Leap: EMD Serono rocketed 17 spots from #22 up to #5 this year
  • Largest Drop: Boston Consulting Group slid 11 spots from #11 to #22
  • Average account balance for plans listed is $176,890
  • 94.04%  is the average participation rate for plans on the list
  • Average company generosity for plans listed is $9,767; the median is $7,472
  • Average salary deferral for plans listed is $8,954; the median is $9,727

Top 25 Boston Area companies with the highest ranked 401k plans containing more than $100 million in assets:

Rank

Company

Plan Name

BrightScope Rating

1 Wellington Management Company, LLP Wellington Retirement and Pension Plan 90.36
2 Eaton Vance Management Eaton Vance Management Profit Sharing and Savings Plan 87.87
3 Simpson Gumpertz & Heger, Inc. SGH Profit Sharing & 401(k) Plan and Trust 87.54
4 Millennium Pharmaceuticals, Inc. Millennium Pharmaceuticals, Inc. 401(k) Plan and Trust 87.00
5 EMD Serono, Inc. EMD Serono 401(k) Savings and Retirement Account Plan 86.27
6 Loomis, Sayles & Company, L.P. Loomis, Sayles & Company, L.P. Employees’ Profit Sharing Retirement Plan 85.97
7 Natixis Global Asset Management, L.P. 401(k) Savings and Retirement Plan sponsored by Natixis Global Asset Management, L.P. 85.88
8 Vertex Pharmaceuticals Incorporated Vertex Pharmaceuticals Incorporated 401(k) Plan 85.63
9 Biogen Idec Inc. Biogen Idec 401(k) Savings Plan 85.02
10 The MathWorks, Inc. The MathWorks, Inc. 401(k) Retirement Plan 84.86
11 Tufts Medical Center Physicians Organization, Inc. Tufts Medical Center Physicians Organization, Inc. 401(a) Retirement Plan 84.82
12 Progress Software Corporation Progress Software Corporation 401(k) Plan 84.57
13 Goodwin Procter LLP Goodwin Procter LLP Partnership Profit Sharing Savings Plan 84.49
14 New England Biolabs, Inc. New England Biolabs, Inc. Employees’ Stock Ownership Plan And Trust 84.14
15 Analog Devices, Inc. Analog Devices, Inc. The Investment Partnership Plan 83.40
16 FMR LLC FMR LLC Profit Sharing Plan 83.35
17 Cabot Corporation Cabot Retirement Savings Plan 82.91
18 Boston Scientific Corporation Boston Scientific Corporation 401(k) Retirement Savings Plan 82.91
19 Ropes & Gray LLP Ropes & Gray LLP Retirement Savings Plan 82.67
20 Kronos Incorporated Kronos Incorporated Retirement Savings Plan 82.39
21 Waters Technologies Corporation Waters Employee Investment Plan 82.23
22 The Boston Consulting Group, Inc. The Boston Consulting Group, Inc. Employees’ Savings Plan and Profit Sharing Retirement Fund 82.13
23 Teradyne, Inc. & Subsidiaries Teradyne, Inc. Savings Plan 82.12
24 NSTAR NSTAR Savings Plan 82.10
25 Bull HN Information Systems, Inc. Bull HN Information Systems, Inc. Investment Plus Plan 82.09

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.

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