Best And Worst 401K Plans 2010: A Glance
October 18th, 2010 - 8:00 pm ICT by GDBy Gina Gomez
Oct 18, (THAINDIAN NEWS) Best of 401K plans 2010 includes a horde of 50 companies compiled by a reputed business magazine. The list was compiled by using such data as participation, default rate, fees and employer match. 401k is actually a retirement plan for employees. The employee in a company contributes a part of his income in the account. The fund is managed by the employer who reportedly invests the amounts. The employer may contribute the same amount or a lesser one to the employees account. While another list on the same subject was taken out by two brothers Mike and Randy Alfred. The two have reportedly created a website where one can type in a company name and view the ratings for its plans. The list made use of 2000 statistics in order to rate the companies. Information from government was also used for the purpose.
The top ten in the list include Saudi Arabian Oil, Lockheed Martin, Southwest Airlines, Piper Jaffray, FedEx, Amgen, Chevron, Exxon Mobile, AstraZeneca, IBM, OppenheimerFunds and Microsoft. The top 10 worst 401K plans consist of the following companies, Darden Restaurants, Big Lots, RadioShack, Zale Corp, Bob Evans Farms, Best Buy, Whole Foods Market, La-Z-Boy, Wal-Mart, Home Depot and Tyson Foods.
The above list however differs completely from the one compiled by Business week. This may lead to some confusion for the person seeking the information. As per Business Week list the top 10 companies with 401K plans are Saudi Arabian Oil, Bank of New York Mellon, Greenwich Capital Markets, Southwest Airlines, Piper Jaffray, Nucor, FedEx, Amgen, McDermott Will & Emery, Chevron. Their list for the top 10 worst companies are, Darden Restaurants, Big Lots, RadioShack, Zale, Compass Group USA, Bob Evans Farms, MPS group, O’Reilly Automotive, Best Buys and Pep Boys.
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Tags: best buy, best buys, bob evans farms, compass group, compass group usa, darden restaurants, exxon mobile, gina gomez, greenwich capital markets, home depot, lockheed martin, oppenheimerfunds, pep boys, piper jaffray, radioshack, reilly automotive, southwest airlines, tyson foods, whole foods market, zale corp