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:
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.