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Arrowpoint Capital 401(k) Plan Named One of 10 Best in Charlotte
Arrowpoint Capital was ranked among the top 10 Charlotte area companies with the best 401(k) plans containing more than $50 million in assets for the third time, according to BrightScope, a San Diego financial information company.
The 401(k) plan ranked seventh as compared to fifth in 2012 and tenth in 2010. The rankings have been conducted biennially since 2010.
According to its release, BrightScope has rated nearly 50,000 401(k) and 403(b) plans, spanning more than 57 million workers and over $3 trillion in assets. The rating, developed with leading independent 401(k) fiduciaries, reviews more than 200 unique data inputs per plan and calculates a single numerical score that defines plan quality at the company level.
Factors include total plan cost, company generosity/matching, investment menu quality and vesting terms.
“It’s apparent that Charlotte-area companies are following the national trend of improving their options for employees to help them become more financially secure,” said Brooks Herman, head of data & research at BrightScope.
The rankings were featured in a special report in the May 23 Charlotte Business Journal.