BrightScope releases top 30 401(k) plans

The Southwest Airlines Pilots’ Retirement Savings Plan took the top spot in BrightScope’s Year-End Top 30 Ratings List covering 401(k) plans with more than $1 billion in assets.  The Southwest plan bumped The Savings Plan of Saudi Arabian Oil Company to the number 2 spot after it held the top spot for two years running.

BrightScope, Inc. obtains the data for its list from plan sponsors, recordkeepers and publicly available sources, such as the U.S. Department of Labor and the U.S. Securities and Exchange Commission. The BrightScope Rating was developed with the help of leading academics and independent 401(k) fiduciaries. By analyzing more than 200 individual data points, the BrightScope Rating algorithm calculates a single numerical value for each 401(k) plan. The data points cover categories such as total plan cost, company generosity and investment menu quality.