10 Best 401(k) Plans in America

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According to BrightScope Retirement, a plan that ranks 401(k) programs for some of the biggest corporations in America, Southwest (NYSE:LUV) has the richest retirement plan in the nation for 2011.

The airline recently took the top spot on a list of the 30 highest-rated 401(k) plans of last year. Southwest matches 100% of the money its pilots set aside for their retirement plan, up to 9.3%  of their full salary. That’s like a 9% raise for anyone who opts in!

BrightScope research found that, on the whole, the largest companies in America were more generous with workers in 2011 than in 2010. The average company provided an average of $11,000 per plan participant in 2011, up from $8,000 last year.

BrightScope analyzed more than 200 data points across about 350 plans with more than $1 billion in assets, factoring in categories like the plan cost, company generosity and the quality of the investments offered.

Here’s the complete list of the Top 10 401(k) plans in America for 2011, according to Brightscope:

1. Southwest Airlines Pilots’ Retirement Savings Plan

  • BrightScope Rating: 90.83
  • Details: Matches 100% of the first 9.3% of employee contribution
  • Average Annual Contribution: $16,454 per participant annually

2. The Savings Plan of Saudi Arabian Oil Company

  • BrightScope Rating: 90.82
  • Details: Matches 100% of the first 9%
  • Average Annual Contribution: $13,655

3. Wellington Retirement and Pension Plan

  • BrightScope Rating: 90.13
  • Details: Profit sharing: Up to 15% of employee’s compensation
  • Average  Annual Contribution: $19,792

4. Deloitte Profit Sharing Plan

  • BrightScope Rating: 89.91
  • Details: For partners: 100% of first 11.72% up to $32,500
  • Average Annual Contribution: $30,800

5. United Airlines Pilot Directed Account Plan

  • BrightScope Rating: 89.91
  • Details: 100% of first 16% of eligible earnings, regardless of employee contribution
  • Average Annual Contribution: $20,328

6. Amgen Retirement and Savings Plan

  • BrightScope Rating: 88.99
  • Details: 100% of first 5% of compensation; and a matching elective contribution of 100% of first 5% of compensation
  • Average Annual Contribution: $12,844

7. Employees Savings and Retirement Plan of Credit Suisse

  • BrightScope Rating: 88.44
  • Details: 100% matching contribution up to $3,000
  • Average Annual Contribution: $12,366

8. Novartis Pharmaceuticals Corporation Investment Savings Plan

  • BrightScope Rating: 88.16
  • Details: Matches 100% of first 4%. Basic contribution that provides 100% of first 2%
  • Average Annual Contribution: $12,024

9. Southern California Permanente Medical Group Retirement Plan

  • BrightScope Rating: 87.57
  • Details: None
  • Average Annual Contribution: None

(Editor’s note: Why this fund makes the top 10 is unclear… but it did)

10. Bayer Corporation Savings and Retirement Plan

  • BrightScope Rating: 87.37
  • Details: Matches 100% of first 2%; 50% of next 4%
  • Average Annual Contribution: $12,330

The top 30 can be found here.


Article printed from InvestorPlace Media, https://investorplace.com/2012/01/best-401k-plans-brightscope-southwest/.

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