Today we announced the third list of Los Angeles area-based companies with the highest ranked 401k plans containing more than $100 million in assets. O’Melveny & Myers returns to the list at No. 1 for first time since 2011.
In examining the Los Angeles top plans, it was great to see the average rating improve almost three points since we last issued this list. It’s clear these companies are working hard to improve their retirement offerings to help their employees better prepare for their financial future.Brooks Herman, Head of Data & Research
Noteworthy findings in the 2015 Top 25 Los Angeles Area 401k Plans list include:
- After debuting at No. 1 on the inaugural list in 2011, O’Melveny & Myers, LLP returns to the list at the top spot with a rating of 92.17 after falling off the ranking in 2012
- BrightScope welcomes Quinn, Emanuel, Urquhart & Sullivan, LLP (No. 6), Thales-Raytheon Systems Co., LLC (No. 9), Rutan & Tucker, LLP (No. 10), Paul Hastings, LLP (No. 11), Oaktree Capital Management, L.P. (No. 9), Allergan, Inc. (No. 13), Dole Food Company, Inc. (No. 18), Western Asset Management Company (No. 22), QLogic Corporation (No. 25) to this year’s list
- Average account balance for plans listed is $268,820
- Average participation rate for plans on the list is 92.08 percent
- Average company generosity for plans listed is $10,544; the median is $8,749
- Average salary deferral for plans listed is $11,432; the median is $11,288
Top 25 Los Angeles area companies with the highest ranked 401k plans containing more than $100 million in assets:
Company – Plan Name – BrightScope Rating
- O’Melveny & Myers, LLP – O’Melveny & Myers, LLP Keogh Plan – 92.17
- Amgen, Inc. – Amgen Retirement and Savings Plan – 88.96
- Southern California Permanente Medical Group – Southern California Permanente Medical Group Retirement Plan – 87.77
- Allianz Asset Management of America, L.P. – Allianz Asset Management of America, L.P. 401k Savings and Retirement Plan – 87.46
- Allen, Matkins, Leck, Gamble, Mallory & Natsis, LLP – Allen Matkins Profit Sharing And 401k Plan – 87.41
- Quinn, Emanuel, Urquhart & Sullivan, LLP – Quinn Emanuel Urquhart & Sullivan, LLP 401k Plan – 87.26
- Latham & Watkins, LLP – Latham & Watkins 401k Savings and Profit Sharing Plan – 87.24
- Irell & Manella, LLP – Irell & Manella Profit Sharing Plan – 87.11
- Thales-Raytheon Systems Co., LLC – Thales-Raytheon Systems Savings and Investment Plan – 86.56
- Rutan & Tucker, LLP – Rutan & Tucker, LLP Profit Sharing Plan – 86.41
- Paul Hastings, LLP – Paul Hastings, LLP Defined Contribution Retirement Plan – 86.35
- Oaktree Capital Management, L.P. – Oaktree Capital Management, L.P. 401k Savings Plan – 86.35
- Allergan, Inc. – Allergan, Inc. Savings and Investment Plan – 85.57
- Gibson, Dunn & Crutcher, LLP – Gibson, Dunn & Crutcher, LLP Retirement Plan – 85.31
- Munger, Tolles & Olson, LLP – MTO Retirement Savings Profit Sharing Plan – 84.95
- Sheppard, Mullin, Richter & Hampton, LLP – Sheppard, Mullin, Richter & Hampton, LLP Retirement and Savings Plan – 84.92
- Manatt, Phelps & Phillips, LLP – Manatt, Phelps & Phillips, LLP Employees Savings Plan – 84.45
- Dole Food Company, Inc. – 401k Plan for Salaried Employees of Dole Food Company, Inc. and Participating Divisions and Subsidiaries – 84.30
- Kingston Technology Company, Inc. – Kingston Retirement Savings Plan – 84.16
- Pacific Life Insurance Company – Pacific Life Insurance Company Retirement Incentive Savings Plan – 84.11
- Southern California Edison Company – Edison 401k Savings Plan – 84.05
- Western Asset Management Company – Western Asset Management 401k Plan and Trust – 83.95
- Loeb & Loeb, LLP – Loeb & Loeb, LLP Profit Sharing and 401k Plan – 83.81
- Southern California Permanente Medical Group – Southern California Permanente Medical Group Physicians Tax Savings Retirement Plan – 83.62
- QLogic Corporation – QLogic Corporation Savings Plan – 83.00
This data is accurate as of February 13, 2015.
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 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 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.