Our 2013 list of the Top 25 401(k) plans (containing more than $100 million in assets) in the Cincinnati area is now available! Taft, Stettinius & Hollister, ABX Air, and Teradata Corporation claim the top spots.
“As one of the most powerful and popular retirement savings vehicles, the efficiency of 401k plans is increasingly important because most Americans rely heavily on them for future financial security,” said Dan Weeks, Co-Founder of BrightScope. “From pharmaceuticals to steel companies, these Cincinnati-based companies are helping to ensure a successful and dignified retirement for their employees.”
Noteworthy observations in this list include:
- Toyota places on its second BrightScope list year: Toyota’s Motor Engineering & Manufacturing Salaried 401(k) Plan and Trust ranked #12 on BrightScope’s Top 25 Automotive Companies with the Best 401k Plans and squeezes in at #25 on this list
- Average account balance for plans listed is $118,143
- 92.95% is the average participation rate for plans on the list
- Average company generosity for plans listed is $5,061; the median is $4,118
- Average salary deferral for plans listed is $6,275; the median is $6,374
Top 25 Cincinnati 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.