SAN DIEGO, CA — (Marketwired) — 08/06/13 — BrightScope (), a leading provider of independent financial information and investment research, today announced the Top 25 companies in the automotive industry with the highest ranked 401k plans containing more than $100 million in assets. This is the seventh list in a new series where BrightScope highlights the strongest plans within leading industries across the nation.
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.
“As one of the U.S-s larger industries, automotive companies carry much responsibility when it comes to ensuring their workers- financial futures,” said Brooks Herman, Head of Data and Research for BrightScope. “When we look at companies with high ratings of this list, it-s encouraging — and fulfilling — to see such big companies making an effort to provide quality plans for the employees that make up such a large part of the workforce.”
Key statistics found on the list of automotive companies with the best 401k plans:
Average account balance for plans listed is $92,025
84.91% is the average participation rate for plans on the list
Average company generosity for plans listed is $2,580; the median is $2,438
Average salary deferral for plans listed is $5,326; the median is $5,063
Top 25 automotive companies with the highest ranked 401k plans containing more than $100 million in assets:
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1. General Motors LLC – – 82.54
2. Harley-Davidson Motor Company Group, LLC – – 82.02
3. Daimler Trucks North America L.L.C. – – 81.09
4. Ford Motor Company – – 80.14
5. Mercedes-Benz U.S. International, Inc. – – 79.10
6. Navistar, Inc. – – 75.61
7. Nissan North America, Inc. and its Affiliates – – 75.46
8. Volvo Group North America, LLC – – 75.15
9. ArvinMeritor, Inc. – – 74.90
10. American Honda Motor Company, Inc. – – 74.64
11. PACCAR, Inc. – – 73.95
12. Toyota Motor Engineering & Manufacturing North America, Inc. – – 72.23
13. Subaru of Indiana Automotive, Inc. – – 71.66
14. Harley-Davidson Motor Company Group, LLC – – 71.53
15. Honda of America Manufacturing, Inc. – – 71.02
16. Oshkosh Corporation – – 69.06
17. Chrysler Group LLC – – 67.28
18. General Motors LLC – – 65.46
19. Navistar, Inc. – – 64.68
20. Chrysler Group LLC – – 62.63
21. Toyota Motor Engineering & Manufacturing North America, Inc. – – 61.79
22. Ford Motor Company – – 61.74
23. Winnebago Industries, Inc. – – 60.17
24. Daimler Trucks North America L.L.C. – – 57.35
25. Mitsubishi Motors North America, Inc. – Manufacturing Division – – 54.63
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 web-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 nearly 600,000 financial advisors and nearly 40,000 advisory firms are available for free at .
Jessica Kipp
Atomic PR for BrightScope
415-593-1400