BrightScope Announces the Top 25 Pittsburgh Area - Amazon Web ...
Jen Harding Atomic PR for BrightScope 415-593-1400 [email protected] BrightScope Announces the Top 25 Pittsburgh Area-Based Companies With the Best 401k Plans Bayer Corporation and Reed Smith LLP Hold Two Top Spots, with Newcomer LANXESS Corporation Taking Spot No. 3 SAN DIEGO, Calif. (September 20, 2012) – BrightScope (www.brightscope.com), a leading provider of independent financial information and investment research, today announced its second round list of the top Pittsburgh area-based companies with the highest ranked 401k plans containing more than $100 million in assets. This year BrightScope has extended the list to include the top 25 companies. 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. “In the wealth management sphere, being able to demonstrate and measure plan performance and efficiency can be challenging,” said Dan Weeks, founder and COO of BrightScope. “That is why we created the BrightScope Rating, which assigns 401k plans a numerical value to help advisors, investors, companies and their employees validate their plans’ high standards and ultimately help plan participants, like those on this Pittsburgh list, retire in dignity.” Noteworthy findings in the 2012 Top 25 Pittsburgh 401k Plans list include: Bayer Corporation and Reed Smith LLP hold the two top positions as newcomer LANXESS Corporation takes the No. 3 spot, pushing down Alleghany Technologies Incorporated down to No. 5 9 out of the 10 companies from the previous list made a second appearance on this year’s list, except for previously ranked No. 10, PPG Industries K&L Gates LLP was the only company from the previous list that moved up in rank and also had a second plan make this year’s list: K&L Gates 401(k) Plan Alpha (formerly K&L Gates 401(k) Retirement Plan) moved up two spots from 9 th to 7th, while the company’s other plan, The K&L Gates 401(k) Plan Beta, made its first appearance on this year’s list as No. 4 Drop in rank: 6 of the previous 10 companies dropped at least two spots in this year’s list, most notably – United States Steel Corporation and Affiliated Cos.
dropped 1o places from 6th to 16th, Alcoa Inc. fell 11 ranks from No. 8 to No. 19 and CONSOL Energy Inc. slipped 7 spots from 5th to 12th Notable Newcomers: LANXESS Corporation (No. 3), Ariba, Inc. (No. 6), Mylan Laboratories, Inc. (No. 9), The Bank of New York Mellon Corporation (No. 11 and No. 22), and Eckert Seamans Cherin & Mellott LLC ESCM (No. 13), among others.
Company – Plan Name – BrightScope Rating 1. Bayer Corporation – Bayer Corporation Savings and Retirement Plan – 87.37 2. Reed Smith LLP – Reed Smith LLP Deferred Profit Sharing Plan – 87.26 3. LANXESS Corporation – LANXESS Corporation Defined Contribution Plan – 85.84 4. K&L Gates LLP – K&L Gates 401(k) Plan Beta – 84.77 5. Allegheny Technologies Incorporated – Allegheny Technologies Retirement Savings Plan – 84.42 6. Ariba, Inc. – Ariba, Inc. Employees' 401(k) Savings Plan – 83.15 7. K&L Gates LLP – K&L Gates 401(k) Plan Alpha – 83.10 8. H.J. Heinz Company – H.J. Heinz Company Employees Retirement and Savings Plan – 82.90 9. Mylan Laboratories, Inc. – Mylan Profit Sharing 401(k) Plan – 82.89 10. MEDRAD, Inc. – MEDRAD, Inc. 401(k) Profit Sharing Plan – 81.75 11. The Bank of New York Mellon Corporation – Retirement Savings Plan of BNY Securities Group – 81.56 12. CONSOL Energy Inc. – CONSOL Energy Inc. Investment Plan for Salaried Employees – 80.82 13. Eckert Seamans Cherin & Mellott LLC ESCM – Eckert Seamans Cherin & Mellott, LLC Profit Sharing Plan – 79.81 14. ANSYS, Inc. – ANSYS, Inc. Employees' Retirement Program – 78.87 15. Federated Investors, Inc. – Federated Investors, Inc. Employees' Profit Sharing/401(k) Plan – 78.67
16. United States Steel Corporation and Affiliated Companies – United States Steel Corporation Savings Fund Plan for Salaried Employees – 78.48 17. Bechtel Marine Propulsion Corporation – Bechtel NR Program Savings Plan – 78.21 18. Allegheny Energy, Inc. – Allegheny Energy Employee Stock Ownership and Savings Plan – 77.98 19. Alcoa, Inc. – Alcoa Savings Plan for Non-Bargaining Employees – 77.67 20. Westinghouse Electric Company, LLC – Westinghouse Electric Company Savings Plan – 77.00 21. Michael Baker Corporation – Baker 401(k) Plan – 76.82 22. The Bank of New York Mellon Corporation – The Bank of New York Mellon Corporation 401(k) Savings Plan – 76.40 23. Ansaldo STS USA – Ansaldo STS USA Retirement Savings Plan – 74.20 24. Curtiss-Wright Electro-Mechanical Corporation – Curtiss-Wright ElectroMechanical Corporation Savings Plan – 73.53 25. Kennametal Inc. – Kennametal Thrift Plus Plan – 72.06 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. The company has rated more than 46,000 retirement plans, spanning 30 million workers and $2 trillion in assets, and provided information on more than 770,000 financial advisors. 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. ### About BrightScope 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 more than 46,000 retirement plans as well as rating definitions, criteria and methodologies, and information on more than 770,000 financial advisors and nearly 45,000 advisory firms are available for free at www.brightscope.com.
dropped 1o places from 6th to 16th, Alcoa Inc. fell 11 ranks from No. 8 to No. 19 and CONSOL Energy Inc. slipped 7 spots from 5th to 12th Notable Newcomers: LANXESS Corporation (No. 3), Ariba, Inc. (No. 6), Mylan Laboratories, Inc. (No. 9), The Bank of New York Mellon Corporation (No. 11 and No. 22), and Eckert Seamans Cherin & Mellott LLC ESCM (No. 13), among others.
Company – Plan Name – BrightScope Rating 1. Bayer Corporation – Bayer Corporation Savings and Retirement Plan – 87.37 2. Reed Smith LLP – Reed Smith LLP Deferred Profit Sharing Plan – 87.26 3. LANXESS Corporation – LANXESS Corporation Defined Contribution Plan – 85.84 4. K&L Gates LLP – K&L Gates 401(k) Plan Beta – 84.77 5. Allegheny Technologies Incorporated – Allegheny Technologies Retirement Savings Plan – 84.42 6. Ariba, Inc. – Ariba, Inc. Employees' 401(k) Savings Plan – 83.15 7. K&L Gates LLP – K&L Gates 401(k) Plan Alpha – 83.10 8. H.J. Heinz Company – H.J. Heinz Company Employees Retirement and Savings Plan – 82.90 9. Mylan Laboratories, Inc. – Mylan Profit Sharing 401(k) Plan – 82.89 10. MEDRAD, Inc. – MEDRAD, Inc. 401(k) Profit Sharing Plan – 81.75 11. The Bank of New York Mellon Corporation – Retirement Savings Plan of BNY Securities Group – 81.56 12. CONSOL Energy Inc. – CONSOL Energy Inc. Investment Plan for Salaried Employees – 80.82 13. Eckert Seamans Cherin & Mellott LLC ESCM – Eckert Seamans Cherin & Mellott, LLC Profit Sharing Plan – 79.81 14. ANSYS, Inc. – ANSYS, Inc. Employees' Retirement Program – 78.87 15. Federated Investors, Inc. – Federated Investors, Inc. Employees' Profit Sharing/401(k) Plan – 78.67
16. United States Steel Corporation and Affiliated Companies – United States Steel Corporation Savings Fund Plan for Salaried Employees – 78.48 17. Bechtel Marine Propulsion Corporation – Bechtel NR Program Savings Plan – 78.21 18. Allegheny Energy, Inc. – Allegheny Energy Employee Stock Ownership and Savings Plan – 77.98 19. Alcoa, Inc. – Alcoa Savings Plan for Non-Bargaining Employees – 77.67 20. Westinghouse Electric Company, LLC – Westinghouse Electric Company Savings Plan – 77.00 21. Michael Baker Corporation – Baker 401(k) Plan – 76.82 22. The Bank of New York Mellon Corporation – The Bank of New York Mellon Corporation 401(k) Savings Plan – 76.40 23. Ansaldo STS USA – Ansaldo STS USA Retirement Savings Plan – 74.20 24. Curtiss-Wright Electro-Mechanical Corporation – Curtiss-Wright ElectroMechanical Corporation Savings Plan – 73.53 25. Kennametal Inc. – Kennametal Thrift Plus Plan – 72.06 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. The company has rated more than 46,000 retirement plans, spanning 30 million workers and $2 trillion in assets, and provided information on more than 770,000 financial advisors. 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. ### About BrightScope 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 more than 46,000 retirement plans as well as rating definitions, criteria and methodologies, and information on more than 770,000 financial advisors and nearly 45,000 advisory firms are available for free at www.brightscope.com.
