BrightScope Ranks San Diego Area-Based Companies With 401k Plans Containing More Than $100M in Assets
MAY 11, 2012 - 12:00 ET
Anesthesia Service Medical Group, Inc. and Scripps Clinic Medical Group, Inc. Keep the No 1. and No. 2 Spots, Respectively, in This Year's List
SAN DIEGO, CA--(Marketwire - May 11, 2012) - BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced its second annual list of San Diego area-based companies with 401k plans containing more than $100 million in assets. This year BrightScope expanded the list to include all San Diego area-based plans that fall into this category -- 21 in total.
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.
"We are proud that BrightScope can be associated with the companies included on this list and say that we call the San Diego area home," said Dan Weeks, founder and COO of BrightScope. "It is great to see top companies remain on this list as well as welcome the handful of newcomers. In the financial industry marketplace there is always room to improve and create better offerings for employees and I am confident the companies on this list, along with other local-based businesses, are striving to do that each and every day."
Noteworthy findings in the 2012 San Diego area-based 401k Plans list include:
Company - Plan Name - BrightScope Rating
1. Anesthesia Service Medical Group, Inc. - Anesthesia Service Medical Group, Inc. 401(k) Profit Sharing Plan Trust - 91.90
2. Scripps Clinic Medical Group, Inc. - Scripps Clinic Medical Group, Inc. Retirement Savings Plan - 89.11
3. Sempra Energy - Sempra Energy Savings Plan - 83.68
4. QUALCOMM Incorporated - QUALCOMM Incorporated Employee Savings and Retirement Plan - 82.17
5. CareFusion Corporation - CareFusion Corporation 401(k) Plan - 81.48
6. Life Technologies Corporation - Life Technologies Corporation 401(k) Savings and Investment Plan - 81.27
7. San Diego Gas & Electric Company - San Diego Gas & Electric Company Savings Plan - 80.81
8. Cubic Corporation - Cubic Corporation Employees' Profit Sharing Plan - 80.72
9. Amylin Pharmaceuticals, Inc. - Amylin Pharmaceuticals, Inc. 401(k) Plan - 80.41
10. Brandes Investment Partners, L.P. - Brandes Investment Partners, L.P. Profit Sharing Plan - 80.37
11. SAIC, Inc. - Science Applications International Corporation Retirement Plan - 78.73
12. ViaSat, Inc. - ViaSat, Inc. 401(k) Profit Sharing Plan - 78.62
13. The Scripps Research Institute - The Scripps Research Institute Faculty and Management Retirement Plan - 77.72
14. Southern California Gas Company - Southern California Gas Company Retirement Savings Plan - 75.55
15. Solar Turbines Incorporated - Solar Turbines Incorporated Savings and Investment Plan - 75.33
16. Callaway Golf Company - Callaway Golf Company 401(k) Retirement Investment Plan - 75.02
17. Kyocera International, Inc. - Kyocera Retirement Savings and Stock Bonus Plan - 73.47
18. General Atomics - General Atomics 401(k) Retirement Savings Plan - 72.59
19. Scripps Health - Scripps Health Retirement Savings Plan - 63.74
20. Sharp Healthcare - Sharp$aver Defined Contribution Plan - 61.16
21. Jack in the Box Inc. - Jack in the Box Inc. EasySaver Plus Plan - 55.39
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 plans, spanning more than 30 million workers and over $2 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.