Today we announce the ranking of Washington, D.C. area companies with the highest ranked 401k plans containing more than $100 million in assets.
“Companies in the greater D.C. area are exceeding expectations when it comes to improving employee offerings,” said Brooks Herman, Head of Data & Research at BrightScope. “Like many businesses around the country, the most progressive employers realize that people are increasingly interested in planning for their financial future – and they’re answering that desire with better and better plans.”
Noteworthy findings in the 2015 Top 25 Washington, D.C. Area 401k Plans list include:
- On top: Advanced Technology Holding, LLC, new to BrightScope’s ranking in 2013 when the list was last issued, climbed from No. 3 to No. 1 this year.
- Warm Welcome: Public Company Accounting Oversight Board, No. 3, Covington & Burling LLP, No. 10, Clark Construction Group, LLC, No. 16, American Bankers Association, No. 17, Systems Planning and Analysis, Inc., No. 21, Williams & Connolly LLP, No. 23, AARP, No. 25, all join the ranking for the first time this year.
- Welcome Back: Crowell & Moring LLP, No. 12, The NASDAQ OMX Group, Inc., No. 18, and Arent Fox LLP, No. 20, all made triumphant returns to the list after falling off in previous years.
- Average account balance for plans listed is $216,045
- Average participation rate for plans on the list is 96.12 percent
- Average company generosity for plans listed is $10,643; the median is $11,852
- Average salary deferral for plans listed is $9,667; the median is $9,914
Top 25 Washington, D.C. area companies with the highest ranked 401k plans containing more than $100 million in assets:
Note: This data is accurate as of April 3, 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.