Today we announce the ranking of Houston, Texas companies with the highest rated 401k plans containing more than $100 million in assets.
“The quality of 401k plans offered by Houston’s top rated companies exceed industry standards, all with a BrightScope Rating greater than 86,” said Brooks Herman, Head of Data & Research at BrightScope. “The most progressive companies realize employees are increasingly interested in being better prepared for their financial future – and they have responded to the demand by improving the factors that make up a quality plan, such as plan costs, employee deferrals and company generosity.”
Noteworthy findings in the 2015 Houston 401k Plans list include:
- Top Spots: Saudi Arabian Oil Company remains No. 1 and BHP Holdings International, Inc. jumps one spot to No. 2
- Warm Welcome: Freeport-McMorman Oil & Gas LLC (No. 3), Americas Styrenics LLC (No. 5), BP Corporation North America Inc. (No. 7), INEOS USA, LLC (No. 13), McDermott Investments, LLC (No. 22)
- Welcome Back: ConocoPhillips Company (No. 4), Exxon Mobil Corporation (No. 6), Phillips 66 Company (No. 8), Marathon Oil Company (No. 9), Greater Houston Anesthesiology, P.A. (No. 10), Shell Oil Company (No. 11), Anadarko Petroleum Corporation (No. 12), Baker Botts L.L.P. Plan A (No. 14), IPR-GDF SUEZ Energy North America, Inc. (No. 15), Noble Energy, Inc. (No. 16), CITGO Petroleum Corporation (No. 17), Chevron Phillips Chemical Company LP (No. 18), EOG Resources, Inc. (No. 19), Cabot Oil & Gas Corporation (No. 20), BMC Software, Inc. (No. 21), BMC Software, Inc. (No. 23), Baker Botts L.L.P. Plan B (No. 24) and Solvay America, Inc. (No. 25)
- Average account balance for plans listed is $281,304 • Average participation rate for plans on the list is 92.36 percent
- Average company generosity for plans listed is $10,374; the median is $9,862 • Average salary deferral for plans on the list is $11,260; the median is $10,490
- Top funds by total distribution held in Houston’s Top 25 401k plans are:
Top 25 Houston companies
Highest ranked 401k plans containing more than $100 million in assets
NR: This data is accurate as of August 1, 2015
Investors can find more information about the funds that make up their 401k plan at BrightScope Fund Pages: http://www.brightscope.com/fund-pages/
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.