Top 20 401(k) plans, part 1
December 24, 2014 8:51 AM
BrightScope has compiled a year-end ranking of the top 401(k) plans, recognizing companies with the best 401(k) plans with more than $1 billion in assets, based on factors such as total plan costs, company generosity, salary deferrals and account balances.
[Image credit: Fotolia]
[Image credit: Fotolia]
#20. GlaxoSmithKline
Headquartered in Philadelphia, Pa., the GlaxoSmithKline Retirement Savings Plan currently has more than 26,300 active participants and $6.1 billion in plan assets. The plan is a defined contribution plan with a profit-sharing component, 401(k) feature, and ESOP component. The plan is also in the top 15% of plans for account balances, company generosity, salary deferral, and total plan cost.
#19. Verizon
Headquartered in Basking Ridge, N.J., the Verizon Savings Plan for Management Employees currently has more than 73,600 active participants and $13.1 billion in plan assets. The plan is a defined contribution plan with a profit-sharing component, 401(k) feature, ESOP component, and leveraged ESOP component. The plan is also in the top 15% of plans for account balances, company generosity, salary deferral, and total plan cost.
#18. Marathon Oil Company
Headquartered in Houston, Texas, the Marathon Oil Company Thrift Plan currently has more than 4,100 active participants and $1.2 billion in plan assets. The plan is a defined contribution plan with a profit-sharing component and 401(k) feature. The plan is in the top 15% of plans for account balances, company generosity, salary deferral, and total plan cost.
#17. Latham & Watkins
Headquartered in Los Angeles, Calif., the Latham & Watkins 401(k) Savings and Profit Sharing Plan currently has over 4,600 active participants and $1.1 billion in plan assets. The plan is a defined contribution plan with a profit-sharing component and 401(k) feature. This plan is also in the top 15% of plans for account balances, company generosity, salary deferral, and total plan cost.
#16. Bechtel Corporation
Headquartered in San Francisco, Calif., the Bechtel Trust & Thrift Plan currently has more than 19,900 active participants and $4.8 billion in plan assets. Its a defined contribution plan with a profit-sharing component and 401(k) feature and the plan is in the top 15% of plans for account balances, company generosity, salary deferral, and total plan cost.
#15. Phillips 66 Company
Headquartered in Houston Texas, the Phillips 66 Savings Plan currently has more than 13,200 active participants and $4.4 billion in plan assets. The plan is a DC plan with a profit-sharing component, stock bonus component, 401(k) feature, and ESOP component. The plan is also in the top 15% of plans for account balances, company generosity, participation rate, salary deferral, and total plan cost.
#14. Bank of America
Headquartered in Charlotte, N.C., the Merrill Lynch & Co., Inc. 401(k) Savings & Investment Plan currently has more than 44,100 active participants and $8.4 billion in plan assets. Its a defined contribution plan with a profit-sharing component, 401(k) feature, and ESOP component. This plan is also in the top 15% of plans for account balances, company generosity, salary deferral, and total plan cost.
#13. Southern California Permanente Medical Group
Headquartered in Pasadena, Calif., the Southern California Permanente Medical Group Retirement Plan currently has over 6,700 active participants and $2.7 billion in plan assets. The plan is a defined contribution plan and ranks in the top 15% of plans for account balances, salary deferral, and total plan cost.
#12. Google
Headquartered in Mountain View, Calif., the Google Inc. 401K Savings Plan currently has more than 34,300 active participants and $3.6 billion in plan assets. Its a DC plan with a profit-sharing component and 401(k) feature. This plan is also in the top 15% of plans for account balances, company generosity, salary deferral, and total plan cost.
#11. BP Corporation North America
Headquartered in Houston, Texas, the BP Employee Savings Plan currently has more than 34,800 active participants and $7.9 billion in plan assets. Its a defined contribution plan with a profit-sharing component and 401(k) feature. The plan is also in the top 15% of plans for account balances, company generosity, salary deferral, and total plan cost.
