Top 25 Detriot Area Companies with the Best 401k Plans

Visteon snags top spot for second year running; Four new companies join the list

Today we announce the ranking of Detroit area companies with the highest ranked 401k plans containing more than $100 million in assets.

“It’s great to see Detroit companies stepping up to improve their offerings, with overall plan ratings and company generosity increasing from last year,” said Brooks Herman, Head of Data & Research at BrightScope. “Businesses are working hard to offer better retirement options for their employees, and people are responding by putting away more money for their futures, growing the average account balance nearly 14 percent in the last year.”

Noteworthy findings in the 2015 Top 25 Detroit Area 401k Plans list include:

  • Staying on top: all five companies topping last year’s list appear in the top spots again, with Visteon Corporation stealing the No. 1 slot.
  • Warm Welcome: T-Systems North America, Inc., No. 8, Amerisure Mutual Insurance Company, No. 15, Fives Machining Systems, Inc., and TriMas Corporation, No. 17, all join the ranking for the first time this year.
  • Average account balance for plans listed is $151,442
  • Average participation rate for plans on the list is percent 91.71 percent
  • Average company generosity for plans listed is $6,017; the median is $5,082
  • Average salary deferral for plans listed is $8,800; the median is $4,831

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

Company Name Plan Name BrightScope Rating
Visteon Corporation Visteon Investment Plan 87.24
Honigman Miller Schwartz and Cohn LLP Honigman Miller Schwartz and Cohn LLP Income Deferral and Profit Sharing Plan 86.76
Miller Canfield Paddock & Stone, P.L.C. Miller Canfield Paddock & Stone, P.L.C. Capital Accumulation 401(k) Plan 86.67
General Motors LLC General Motors Retirement Savings Plan for Salaried Employees in the United States 86.13
Delphi Corporation Delphi Salaried Retirement Savings Program 85.48
Ford Motor Company Ford Motor Co. Savings and Stock Investment Plan for Salaried Employees 84.92
Dykema Gossett PLLC Dykema Gossett PLLC Savings & Investment Plan 84.04
T-Systems North America, Inc. T-Systems North America, Inc. 401(k) Retirement Plan 84.04
Compuware Corporation Tax Department 14W Compuware Corporation ESOP/401(k) Plan 83.59
American Axle & Manufacturing, Inc. American Axle & Manufacturing, Inc. Salaried Savings Plan 83.58
Dickinson Wright PLLC Dickinson Wright PLLC Retirement and 401(k) Savings Plan 83.52
International Union, UAW International UAW Staff Severance Plan 83.28
DTE Energy Corporate Services, LLC DTE Energy Company Savings and Stock Ownership Plan 82.26
The Taubman Company, LLC The Taubman Company and Related Entities Employee Retirement Savings Plan 81.83
Amerisure Mutual Insurance Company Amerisure Mutual Insurance Company 401(k) Savings Plan 81.03
Fives Machining Systems, Inc. Fives Machining Systems, Inc. Retirement Savings Plan 80.25
TriMas Corporation TriMas Salaried Retirement Program 79.06
Blue Cross Blue Shield of Michigan Blue Cross Blue Shield of Michigan Employees’ Savings Plan 78.84
Ally Financial Inc. Ally Financial Inc. Retirement Savings Plan 78.84
TRW Automotive US LLC TRW Automotive 401(k) Savings Plan 78.74
Yazaki North America, Inc. Yazaki Employee Savings and Retirement Plan 78.39
INTERNATIONAL AUTOMOTIVE COMPONENTS GROUP NORTH AMERICA IACNA RETIREMENT SAVINGS PROGRAM 78.18
DTE Energy Corporate Services, LLC Detroit Edison Company Savings & Stock Ownership Plan for Employees Represented by Local 223 of the Utility Workers Union of America 78.12
BorgWarner, Inc. BORGWARNER INC. RETIREMENT SAVINGS PLAN 77.95
PulteGroup, Inc. PulteGroup, Inc. 401(k) Plan 76.79

Note: This data is accurate as of March 27, 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.  Learn more at brightscope.com/about.

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