"Top rated companies in San Francisco are exceeding expectations when it comes to improving employee retirement plan offerings," said Brooks Herman, Head of Data & Research at BrightScope. "The most progressive companies realize that employees are increasingly interested in being better prepared for their financial future -- and they are responding to the demand by providing higher quality 401k plans."
Noteworthy findings in the 2015 San Francisco 401k Plans list include:
- Holding it Down: Dodge & Cox remain at the No.1 spot and Bechtel Global Corporation moves up to the No. 2 spot
- Warm Welcome: Farella Braun and Martel LLP (No. 3), Genentech, Inc. (No. 9), Visa Inc. (No. 13), Valent U.S.A. Corporation (No. 14), Franklin Resources, Inc. (No. 15), The Clorox Company (No. 19), American Automobile Association of Northern California, Nevada, & Utah (No. 21), The Permanente Medical Group, Inc. (No. 22) and Arup Usa, Inc. (No. 24)
- Welcome Back: Orrick, Herrington & Sutcliffe LLP (No. 4), Pillsbury Winthrop Shaw Pittman LLP (No. 5), Cooley LLP (No. 6), MedAmerica, Inc. (No. 7), California Advanced Imaging Medical Associates, Inc. (No. 8), Dolby Laboratories, Inc. (No. 10), The Charles Schwab Corporation (No. 11), Gilead Sciences, Inc. (No. 12), Morrison & Foerster LLP (No. 16), Littler Mendelson, P.C. (No.17), PG&E Corporation (No.18), Exponent, Inc. (No.20), Autodesk, Inc. (No.23) and Swinerton, Inc. (No. 25)
- Average account balance for plans listed is $233,678.25
- Average participation rate for plans on the list is 95.77 percent
- Average company generosity for plans listed is $9,185.91; the median is $8,387
- Average salary deferral for plans listed is $10,891.53; the median is $11,345
- Top funds by total distribution held in San Francisco's Top 25 401k plans are:
Fidelity Low-Priced Stock - 6 plans - $393M
2. Dodge & Cox Stock - 8 plans - $386M
3. Fidelity Spartan 500 Index - 3 plans - $365M
4. Schwab S&P 500 Index - 4 plans - $352M
5. Fidelity Contrafund - 3 plans - $314M
Top 25 San Francisco companies with the highest ranked 401k plans containing more than $100 million in assets:
Company - Plan Name - BrightScope Rating
1. Dodge & Cox - Dodge & Cox Profit Sharing Plan & Trust - 89.80
2. Bechtel Global Corporation - Bechtel Trust & Thrift Plan - 88.22
3. Farella Braun and Martel LLP - Farella Braun and Martel LLP Profit Sharing and 401(k) Plan - 87.65
4. Orrick, Herrington & Sutcliffe LLP - Orrick, Herrington & Sutcliffe LLP Retirement Plan - 87.03
5. Pillsbury Winthrop Shaw Pittman LLP - Pillsbury Winthrop Shaw Pittman LLP Retirement Savings Plan No. 1 - 86.93
6. Cooley LLP - Cooley LLP Salary Deferral and Profit Sharing Plan - 86.75
7. MedAmerica, Inc. - 401(k) Profit Sharing Plan for Employees of MedAmerica, Inc. - 86.65
8. California Advanced Imaging Medical Associates, Inc. - California Advanced Imaging Medical Associates, Inc. - Retirement and 401(k) Plan - 86.59
9. Genentech, Inc. - U.S. Roche 401(K) Savings Plan - 86.23
10. Dolby Laboratories, Inc. - Dolby Laboratories, Inc. Retirement Plan - 86.12
11. The Charles Schwab Corporation - SchwabPlan Retirement Savings and Investment Plan - 85.76
12. Gilead Sciences, Inc. - Gilead Sciences 401(k) Plan - 85.55
13. Visa Inc. -- Visa 401(k) Thrift Plan - 85.48
14. Valent U.S.A. Corporation - Valent U.S.A. Corporation 401(k) Savings Plan - 84.43
15. Franklin Resources, Inc. - Franklin Templeton 401(k) Retirement Plan - 83.71
16. Morrison & Foerster LLP - Morrison & Foerster LLP Retirement Plan Part I - 83.60
17. Littler Mendelson, P.C. - Littler Mendelson 401(k) Plan and Trust - 83.55
18. PG&E Corporation - PG&E Corporation Retirement Savings Plan - 83.52
19. The Clorox Company - The Clorox Company 401(k) Plan - 83.36
20. Exponent, Inc. - Exponent, Inc. 401(k) Savings Plan - 83.17
21. American Automobile Association of Northern California, Nevada, & Utah -- AAA NCNU 401(k) Plan - 83.10
22. The Permanente Medical Group, Inc. - The Permanente Medical Group, Inc. Salary Deferral Plan - 82.78
23. Autodesk, Inc. - Autodesk 401(k) Plan - 82.73
24. Arup Usa, Inc. - Arup Usa Retirement Savings Plan - 82.64
25. Swinerton, Inc. - Swinerton 401(k) & Savings Plan - 82.56
Note: This data is accurate as of October 13, 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.
BrightScope is a financial information company that brings transparency to opaque markets through independent research and analysis. Delivered through cloud-based software, BrightScope data drives better decision-making for individual investors, corporate plan sponsors, asset managers, broker-dealers, and financial advisors. The BrightScope Rating, developed in partnership with leading independent 401k fiduciaries, reviews more than 200 unique data inputs per plan and calculates a single numerical score which defines plan quality at the company level. In April 2011, the company launched BrightScope Advisor Pages, the first comprehensive and publicly available directory of financial advisors designed to help consumers discover information and conduct due diligence on wealth management professionals. BrightScope also markets a suite of data analytics software products to Fortune 1000 companies, asset managers, broker-dealers, financial advisors, and other market participants. Public ratings for nearly 50,000 retirement plans as well as rating definitions, criteria and methodologies, and information on more than 680,000 financial advisors and nearly 33,000 active advisory firms are available for free at www.brightscope.com.