Keeping you informed

Parker Poe Ranked in Top Charlotte Companies with Best 401K Plans

    News
  • November 10, 2010

(CHARLOTTE, NC)—BrightScope, the leading independent provider of retirement plan ratings, announced that Parker Poe Adams & Bernstein LLP is among the Top 10 Charlotte area-based companies with the highest ranked 401k plans containing more than $50 million in assets. Parker Poe is the only law firm to make the list, which includes top area companies Nucor Corporation, Goodrich Corporation, DAK Americas and SPX Corporation, among others.

“This ranking confirms the quality of our retirement plan,” said Parker Poe’s plan administrator Jonathan Crotty, a partner and head of the Firm’s Employment & Labor Practice Group. “It shows the dedication of our staff and benefits attorneys to providing a solid path to financial security for everyone at the Firm.”

According to BrightScope, the company “obtains much 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.”

"Charlotte is home to nationally recognized manufacturers and consultants, many of which are included in the region's Top 10 List," said Mike Alfred, CEO and co-founder of BrightScope. "These companies stand out not only because they supply the country with quality products and services, but also because they demonstrate that they value their employees by providing the building blocks for a successful retirement."

The full Top 10 list includes Charlotte area-based companies with the highest ranked 401k plans containing more than $50 million in assets:

RANK COMPANY NAME PLAN NAME BrightScope RATING*
1 Nucor Corporation Nucor Corporation Profit Sharing & Retirement Savings Plan 88
2 LORD Corporation LORD Corporation Salaried Exempt Employees Savings Plan 85
3 Cogentrix Energy, LLC Cogentrix Energy, Inc. Retirement Savings Plan 85
4 Kimley-Horn and Associates, Inc. Kimley-Horn and Associates, Inc. Retirement Savings and Pension Plan 83
5 Parker Poe Adams & Bernstein LLP Parker Poe Adams & Bernstein LLP 401k Profit Sharing Plan and Trust 82
6 EnPro Industries, Inc. EnPro Industries, Inc. Retirement Savings Plan for Salaried Employees 79
7 Goodrich Corporation Goodrich Corporation Employees' Savings Plan 78
8 DAK Americas LLC DAK Americas LLC Savings and Investment Plan 78
9 Arrowood Indemnity Company The 401k Plan of Arrowood Indemnity Company 77
10 SPX Corporation SPX Corporation Retirement Savings and Stock Ownership Plan 74

*BrightScope Rating is rounded to the nearest whole number.

BrightScope has rated more than 50,000 401k plans, spanning more than 30 million workers and over $2 trillion in assets. 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 an independent data analytics firm that quantitatively rates 401k plans and gives employers, employees, and advisors tools to enhance plan performance and maximize retirement outlook. The BrightScope Rating(TM) 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 401k plan quality at the company level. BrightScope - published ratings, rating definitions, criteria and methodologies are available on the company's public site, www.brightscope.com.
 
About Parker Poe
Parker Poe Adams & Bernstein LLP has 230 lawyers in six offices located in major markets across North Carolina and South Carolina. The Firm provides legal counsel to commercial and public organizations on corporate, finance, litigation, real estate and regulatory matters. It has been recognized in recent years as one of the fastest growing law firms in the United States and as an award-winning leader in the use of technology to provide clients with improved and more efficient service.