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July 23, 2010
...Investors can always compare their funds against one of the handful of target-date indexes produced by companies including BrightScope Inc., Dow Jones Indexes, S&P Indices and Morningstar to see how they stack up based on returns...
How to Pick a Target-Date Fund
How to Pick a Target-Date Fund
July 22, 2010
...Remember that you have a stake in this game -- this is your money, and your retirement. Start by looking at your fund's "glide path," says Ryan Alfred, president and co-founder of Brightscope, a company that rates 401(k) plans. "As you get closer to retirement, you should end up with a more conservative investment mix." The issue here is that every fund has a different glide path. Let's take two 2030 funds, which are intended for someone who is going to retire in the year 2030. The first could have 35 percent in equities when it hits 2030; the second could have 57 percent. If you're a conservative investor, you might not be comfortable with the glide path of the second fund...
Talking Money: 401(k) plans
Talking Money: 401(k) plans
July 22, 2010
...Your employer is required to deposit your contribution into your account within seven days of the payroll date, according to Mike Alfred of Brightscope. If your employer is taking longer than seven days to deposit your funds, and especially if they are taking more than 15 days, you should call the Labor Department immediately, he said...
Some employers steal from 401(k) plans
Some employers steal from 401(k) plans
July 20, 2010
...For one thing, if you stay in your 401(k), you're limited to the investment choices within your plan. That may not be so bad if your 401(k) has a broad menu of decent investments that are reasonably priced. (To get an idea of how your plan's investment options stack up on price, check out the 401(k) fee reports available free from 401(k) ratings firm BrightScope.)
Retiring? What to do with your 401(k)
Retiring? What to do with your 401(k)
July 16, 2010
...The eventual disclosure of fees to employees is likely to cause more "consternation," says Ryan Alfred, the president of BrightScope, a company that rates 401(k) plans. "Most participants in 401(k) plans don't think they're paying fees," Alfred says. Only 26% of workers are aware they pay fees to participate in their retirement plan, according to a recent survey by the Transamerica Center for Retirement Studies...
A Step Toward 401(k) Fee Transparency
A Step Toward 401(k) Fee Transparency
July 12, 2010
A big allocation of company stock reduces a company's 401(k) rating by BrightScope Inc., said Ryan Alfred, president and co-founder of the San Diego-based firm that provides plan ratings. "Most industry experts I talk to use 10%" as the cutoff point for a single asset in a portfolio, he said.
Some plans remain company-stock heavy
Some plans remain company-stock heavy
July 12, 2010
"This is how the asset allocation changes over time," said Ryan Alfred, co-founder of Brightscope, a company that rates 401(k) plans. "As you get closer to retirement, you should end up with a more conservative investment mix."
Chatzky: Is a target-date mutual fund for your retirement plan a smart choice?
Chatzky: Is a target-date mutual fund for your retirement plan a smart choice?
July 9, 2010
Employees may buy in out of loyalty or optimism, and employers often use company stock for at least a portion of their matching contribution for 401(k) and other direct-contribution plans. Monsanto's(MON) direct-contribution plan counts the company's own stock as its top investment holding at 50% of total assets, according to BrightScope, a provider of 401(k) ratings.
BP Stock Drop Erodes Retirement Accounts
BP Stock Drop Erodes Retirement Accounts
July 8, 2010
...As of Jan. 1, BP stock made up nearly 30 percent of BP employee accounts, or about $2.45 billion worth of retirement savings, said Mike Alfred, CEO of BrightScope, a San Diego-based firm that rates about 50,000 401(k) plans. The legal argument likely will center on whether BP workers were allowed to take excessive risk by having too much money in company stock, Alfred said...
Pensions Weigh Options From BP Spill
Pensions Weigh Options From BP Spill
July 2, 2010
As America's baby boom generation surges into retirement, there is a growing sense of apprehension that there won't be any nest egg waiting for them when they're ready to leave their jobs...Michael Alfred, chief executive of BrightScope, a San Diego firm that analyzes 401(k), IRA and other retirement plans, says investors have good reason to be concerned...
Facing retirement challenges
Facing retirement challenges
July 1, 2010
...Nine of the 10 most generous plans provide profit sharing contributions, including Ernst & Young and United Parcel Service. "While in these cases the profit sharing contributions are extremely generous, it is important to remember that discretionary profit sharing contributions can be very good when the company is doing well, and then disappear if the company has a bad year," said Eddie Alfred, vice president of research and data at BrightScope...
UPS high among US cos with big retirement matches
UPS high among US cos with big retirement matches
June 30, 2010
Mike Alfred, the chief executive officer of BrightScope, which rates 401(k) plans, agreed that there has been a trend towards auto-enrollment since 2006, but he is worried about plan sponsors auto-enrolling in target-date funds. "If you're not going to have a pension plan, but you still want your employees to have a retirement at some point you have to make sure that employees are participating in 401(k)s. It's a mathematical thing," he said. "But target date funds are a huge concern of the Department of Labor and the Securities and Exchange Commission right now both because of how they're marketed and the process used by employers to evaluate and choose the plans."
Auto-Enroll On the Rise, 401(k) Match Still on the Sidelines
Auto-Enroll On the Rise, 401(k) Match Still on the Sidelines
June 15, 2010
Thanks to declining stock prices, cutbacks in employment benefits and rising management fees, 401(k) plans don't necessarily offer the secure retirement that they once did. But such local firms as the Anesthesia Service Medical Group, Scripps Clinic Medical Group, Sempra Energy and Qualcomm still manage to provide their workers with relatively strong 401(k)s, according to BrightScope, a San Diego firm that bills itself as the nation's largest independent provider of retirement plan ratings...
Some local firms earn 401(k) kudos
Some local firms earn 401(k) kudos
June 14, 2010
Administrative costs and fund expenses in employer-sponsored retirement plans such as 401(k)s can mean significant loss of wealth over a lifetime. An annual fee of 0.5% of assets can reduce your savings by 12.5% over 30 years, according to the Center for Retirement Research at Boston College. Those of you at smaller companies are likely to bear heavier costs. Fees for plans with $5 billion in assets average 0.62%; fees for plans with $1 million average 2.1%, reports BrightScope.
15 most hated fees
15 most hated fees
June 9, 2010
Wellington's 401(k) plan offers a variety of quality investment funds and charges low fees. The company contribution averages a whopping $19,500 per participant (including profit sharing worth up to 15 percent of an employee's salary). No wonder the plan boasts an impressive 98 percent participation rate. "For a plan that size, that's very high" participation, said Eddie Alfred, a vice president of BrightScope, a San Diego company that rates 401(k) plans. "Wellington has done a superb job."
Wellington's 401(k) plan ranks among best in area
Wellington's 401(k) plan ranks among best in area
June 5, 2010
"Rather than just sitting around the water cooler and saying, 'I think the fees are high' or 'The investments aren't good,' you can actually send them some actionable information," he says. "And, we're seeing that employers are making changes based on this information."
Free website rates companys' retirement benefits
Free website rates companys' retirement benefits
June 1, 2010
There's never been a time in history when investing information is so readily available, for free. You can go online right now and find out everything you ever wanted to know about proper asset allocation and diversification. You can also learn about about a particular investment class, company, and industry you're considering investing in. Check out a site like Brightscope.com, which will tell you how your company's 401(k) is performing compared to your peers. Armed with this knowledge, we can make smart choices about our retirement savings strategy.
5 Reasons to Start Investing for Retirement Today
5 Reasons to Start Investing for Retirement Today
May 31, 2010
Company 401(k) plans can range from the good the bad to the ugly - with high administrative fees or poor investment choices. Workers can now do something to boost their plan's value. The website BrightScope.com reviews and rates large company 401(k) plans. If your plan is ranked at the bottom, click "Help improve the plan" to get specific steps to make your firm's plan a better deal for employees.
Your Money Matters - Laura Rowley author of Money and Happiness
Your Money Matters - Laura Rowley author of Money and Happiness
May 27, 2010
Mike Alfred, one of BrightScope's co-founders, says trading costs can add an average 40 basis points on average-above and beyond the expense ratio-across 401(k) plans he's surveyed. In small funds that trade frequently, he says trading costs can double overall costs. Company stock ownership in a 401(k) can come with additional broker fees as well...
What Your 401(k) Really Costs You
What Your 401(k) Really Costs You
May 24, 2010
...Most providers charged double fees -- one for the mutual funds, then a second layer of "wrap" charges to manage the assortment. As a result, research firm BrightScope says target-date fees are 10% to 25% higher than those of other 401(k) options. (According to Morningstar, Vanguard is the only truly low-cost provider, since it uses index funds with rock-bottom fees and doesn't impose those extra wrap charges)...
The senator who wants to save your retirement
The senator who wants to save your retirement
May 17, 2010
...Goldman already has sold its funds to the 401(k) plans of companies including Intel Corp., Sun Microsystems Inc., and Sysco Corp., according to data compiled by BrightScope Inc., the San Diego-based 401(k) research firm. The most popular Goldman funds for 401(k) plans are Goldman Sachs Mid Cap Value Fund and Goldman Sachs Small Cap Value Fund, according to BrightScope...
Goldman Sachs Seeks Bigger Share of U.S. Retirement Savings
Goldman Sachs Seeks Bigger Share of U.S. Retirement Savings
May 13, 2010
With so many opinions and analyses circulating about 401(k) plans, how much room is there for a pair of former registered investment advisers who are younger than the Internal Revenue Code section that spawned these plans?
Brightscope seeks to plug 401(k) information hole - and turn a profit
Brightscope seeks to plug 401(k) information hole - and turn a profit
May 10, 2010
Alfred started his company at the end of 2008 with his brother, Ryan, and they've raised capital to expand. They received their first round of funding in January 2009, the same day the Dow Jones industrial average dropped to the lowest it has ever been. The second round of funding came later that spring. "BrightScope is unique enough that I can monetize the idea of rating retirement account programs, especially now that the pension plan has all but disappeared," Mike Alfred said...
Cutting-Edge Firms Take Conservative Steps to Stay Afloat
Cutting-Edge Firms Take Conservative Steps to Stay Afloat
May 3, 2010
Do you know how much your 401(k) costs you each year in expenses? If your answer is "I have no idea", you are not alone. 401(k)s are famous for "burying" their costs. It is rare that you see actual fees listed on a statement (and if you do, the odds are that there are other expenses that you are also paying which are not listed.) So, how can you check up on how much your plan is currently costing you? A recently launched website (www.brightscope.com) lets you see exactly what kind of expenses you are incurring...
How much is your 401(k) costing you?
How much is your 401(k) costing you?
May 3, 2010
Houston-based Continental has $1.37 billion in defined benefit assets, according to SEC filings. In defined contribution assets, Continental has a combined $2.7 billion in three 401(k) plans, according to BrightScope, a firm that analyzes DC plans...
UAL, Continental combo creates $9.6B in retirement assets
UAL, Continental combo creates $9.6B in retirement assets
May 2, 2010
...Annuities are uniquely suited to deliver on that mandate, says Mr Alfred. "We are generally supportive of helping participants creating retirement income streams," he says. "I am not convinced that anything other than an annuity can do this. People need income; they don’t need a lump sum in retirement." Still, selling annuities in retirement plans has been a tough slog for annuity providers...
Demand for income lifts annuity appeal
Demand for income lifts annuity appeal
May 1, 2010
Now you can lift the veil on how much you really pay in 401(k) fees. Analytics firm BrightScope has launched a new, free tool, the Personal 401(k) Fee Report. Assuming that your company's 401(k) plan is among the more than 30,000 in the firm's database, you can get a customized estimate of how much your plan is costing you. (And if your plan isn't listed, you can ask BrightScope to add it.)
401(k) Tuneup
401(k) Tuneup
April 29, 2010
...Alfred adds: "The 401(k) market is actually getting bigger and bigger due to the decline in defined benefit plans. This trend has been going on for years. There will be more and more money going in to the 401(k) system than there is going out and if annuity-type features find themselves in to plans, the money will likely never leave." He has more faith in estimates of the 401(k) market published by the ICI, he says...
Some experts question Cogent Research study's finding of big dip in 401(k) plan ownership
Some experts question Cogent Research study's finding of big dip in 401(k) plan ownership
April 26, 2010
...Unfortunately, it's difficult for most employees to do a reasonable cost comparison. One new tool that offers promise is BrightScope. If your employer is in BrightScope's database of some 30,000 plans, you can see how your 401(k) compares in terms of costs, investment menu, and options...
What Your Boss Isn't Telling You About Your 401(k)
What Your Boss Isn't Telling You About Your 401(k)
April 23, 2010
...Your investment choices may be weighing you down. For mutual funds, for instance, stick to investments that offer a 1.5% annual expense ratio or less, say Kennedy. To compare investment fees within your company's 401(k) plan, check out BrightScope's free personal fee report. San Diego-based BrightScope is an independent financial intelligence firm that has rated more than 45,000 plans...
Paring Back So You Can Retire Comfortably
Paring Back So You Can Retire Comfortably
April 22, 2010
...Starting with the top 10-rated plans in New York, the lists will help employees find out what the best plans are offering their participants, say BrightScope founders Mike and Ryan Alfred, who announced the list on Wednesday. The lists will also make it easier for plan sponsors who want to benchmark their plan performance against those of competitors. They will also be of use to investment advisors looking to help companies better manage their plans better, the lists creators say...
How Does Your Employer's 401(k) Plan Stack Up?
How Does Your Employer's 401(k) Plan Stack Up?
April 22, 2010
"Someone has to draw the lines of demarcation that balance the competing interests of the various providers - insurance companies, mutual fund complexes, and unbundled providers - and ultimately provide a meaningful disclosure to participants that doesn't exclude fees that participants are actually paying," said Ryan Alfred, cofounder and president of BrightScope Inc., San Diego...
Defined contribution pros seek more guidance on fee disclosure
Defined contribution pros seek more guidance on fee disclosure
April 21, 2010
"First off, everybody knows that lists and ratings are popular. People just love that stuff," says Mike Alfred, the CEO of BrightScope, a 401k rankings and research company. "There are so many people in this country who won't be able to retire where they spent their working career. A lot of people have to consider if they can ever retire if they continue to live in Manhattan or San Diego."
Best places to retire: with so many lists, here's how to decide
Best places to retire: with so many lists, here's how to decide
April 21, 2010
Financial firms and law firms play a prominent role in offering the best New York City 401(k) plans, according to BrightScope Inc., a San Diego-based firm that rates DC plans using six broad categories ranging from fees to quality of investment choices...
BrightScope ranks 'best' 401(k) plans in New York City
BrightScope ranks 'best' 401(k) plans in New York City
April 21, 2010
...By picking and choosing the best-in-class managers for an open architecture customized target-date fund, managers can keep costs low, says Ryan Alfred, co-founder and president of Brightscope. "Most open architecture target-date fund managers do not receive compensation from the underlying investments and therefore do not have an incentive to have a more aggressive glide path," he says...
Rise of Customization in DC Plans Draws Consultants
Rise of Customization in DC Plans Draws Consultants
April 17, 2010
...New tools are emerging to help investors weigh their options. BrightScope, a retirement-plan research firm, early this year introduced a "personal 401(k) fee report," which offers a quick snapshot of plan costs and how they'll affect a nest egg over the long haul. Users can then compare these costs to their IRA alternatives...
The Grudge Match Over Your 401(k)
The Grudge Match Over Your 401(k)
April 13, 2010
Now you can lift the veil on how much you really pay in 401(k) fees. Analytics firm BrightScope has launched a new, free tool, the Personal 401(k) Fee Report. Assuming that your company's 401(k) plan is among the more than 30,000 in the firm's database, you can get a customized estimate of how much your plan is costing you. (And if your plan isn't listed, you can ask BrightScope to add it.)
401(k) Tuneup
401(k) Tuneup
April 11, 2010
...The San Diego startup takes data from annual reports that employers file with the government, puts it into a proprietary formula and rates plans on a scale of 0 to 100. The average rating is 58. It now rates about 35,000 private-sector plans nationwide, including more than 1,000 in the Bay Area. It publishes ratings and other information about each plan for free at Brightscope.com...Along with its rating, BrightScope publishes lots of other user-friendly data about each company's plan such as the average balance, top three investment holdings and ratings for a peer group of companies. Detailed financial data is available behind the Form 5500 tab...
How does your 401(k) plan rate?
How does your 401(k) plan rate?
March 30, 2010
...Mike Alfred, chief executive at BrightScope, an independent provider of 401(k) ratings and financial intelligence to plan sponsors, advisors, and participants, said in a recent phone interview that the confidence men show in investing is usually an over-confidence. "Which is why a lot of studies say that women are really better investors than men because men are trying too hard to beat the market which as most people are now aware is a fools game," he explained...
Where Are All the Women on Wall Street?
Where Are All the Women on Wall Street?
March 30, 2010
...If you have any doubt as to just how serious a barrier high expenses in a 401(k) or similar plan can be, I suggest you take a spin over to Brightscope.com, a site that rates 401(k) plans and offers free personal 401(k) fee reports. If your plan is one of 30,000 or so Brightscope has info on, you'll not only see the fees you're paying for your plan, but also get a projection of how much those fees might whittle down your eventual account balance...
Expensive 401(k)? 4 Things to Consider
Expensive 401(k)? 4 Things to Consider
March 25, 2010
401(k) plans have been around since section 401(k) of the Internal Revenue Code was enacted into law in 1980. Almost 30 years later the data for these plans is still an archaic mess. BrightScope, the San Diego startup, burst onto the scene in January 2009 with its sights set on "helping millions retire with dignity," by giving them the information they need to understand their plans, according to Ryan Alfred, BrightScope's president and co-founder. Alfred and his team have done the manual-data-entry dirty-work for 401(k)s, and on Tuesday Alfred gave us a tour of how BrightScope has made sense of all those dusty boxes of data...
How BrightScope is Using Technology to Create Order in a Messy 401(k) Market
How BrightScope is Using Technology to Create Order in a Messy 401(k) Market
March 16, 2010
...That much of a savings on fees could increase account balances by tens of thousands of dollars over the working years of the average saver...Companies are required to act prudently in selecting and managing investments in retirement accounts. That standard has caused many companies to look around. "If others are using CITs to lower fees and you're not, you'd better justify why not," said Ryan Alfred, president of BrightScope Inc., which analyzes and rates 401(k) plans...
A Low Fee Option May Be Coming to a 401k Near You
A Low Fee Option May Be Coming to a 401k Near You
March 16, 2010
...A new job might increase your pay, offer better benefits, or provide a 401(k) plan with better investment options. The following ratings from BrightScope.com reveal huge disparities in the quality of many prominent employers' retirement plans...
The Hidden Upside of Job-Hopping
The Hidden Upside of Job-Hopping
March 4, 2010
...Brightscope isn't the first to measure 401(k) performance but it's gone deeper than most by accessing the audit reports that all plans file with the U.S. Department of Labor, as well as other data sources. Currently, Brightscope offers ratings on 35,000 plans, covering more than 60 percent of all employees and more than half of all assets in plans. "We want to make the data much more transparent," says Mike Alfred, Brightscope's CEO and co-founder. "The fact that it took a little start-up in San Diego to pull out this data in an industry that has been around for 25 years tells you just how inefficient the market is."...
Brightscope shines a new light on 401(k) fees
Brightscope shines a new light on 401(k) fees
March 4, 2010
If you think target date funds are the best place for your money, you might want to think twice, says Michael Alfred, of BrightScope.
The Truth About Target Date Funds
The Truth About Target Date Funds
March 3, 2010
...Investors in target-date funds with a retirement day of 2010 found out how different the results could be during the stock market's recent collapse. Some investors lost as little as 10 percent, while others lost four times that much, says Mike Alfred of BrightScope, a 401(k) retirement plan rating service. "I don't think they expected that given they were only a few years from retirement and were in a fund that was supposed to automatically adjust - they didn't expect to lose that much money," Alfred says...
Partner In Time: Retirement Funds You Can Age With
Partner In Time: Retirement Funds You Can Age With
March 3, 2010
...I asked Mike how readers should go about using BrightScope. He suggested the following: (1) visit BrightScope and determine how well your company plan is performing; (2) determine how much in expenses you are paying; (3) share your rating information with your company's HR department and ask about improving your rating; (4) leave comments on BrightScope.com for others to read...
How Good is Your 401K? Ask BrightScope
How Good is Your 401K? Ask BrightScope
March 1, 2010
...Whether or not your 401(k) plan's money fund is a money loser depends on how the plan allocates its expenses, says Ryan Alfred, president of BrightScope, which tracks 401(k) plans. Some funds, for example, simply charge participants a flat fee for their 401(k). Others levy the fee on the plan's overall assets, which could push a low-yielding fund below zero...
How you can lose money in a money fund: Fees
How you can lose money in a money fund: Fees
February 26, 2010
...But Mike Alfred, chief executive at BrightScope, an independent provider of 401(k) ratings and financial intelligence to plan sponsors, advisors, and participants, said Wednesday that the confidence men show in investing is usually an over-confidence. "Which is why a lot of studies say that women are really better investors than men because men are trying too hard to beat the market which as most people are now aware is a fools game," he said...
Survey: Women Less Confident When it Comes to Investing
Survey: Women Less Confident When it Comes to Investing
February 26, 2010
...Observers predict that the fund industry will weigh in heavily on this issue during the comment period since it could have huge effects on actively managed funds. "It means that actively managed funds in the retirement marketplace would very much be in question and could lose market share," said Ryan Alfred, co-founder and president of BrightScope Inc., which rates 401(k) plans...
Labor Dept.'s 401(k) proposal could rock pension advice business
Labor Dept.'s 401(k) proposal could rock pension advice business
February 24, 2010
...While the federal government is debating how to improve fee disclosure, the private sector has stepped in. BrightScope.com, a San Diego startup that rates 401(k)s, has launched an online tool that gives you a free personal fee report. So far the company has expense data for 31,000 401(k)s, which cover more than 50% of participants. Once you register and supply information about your investment choices, click on "fee details" to find out the estimated percentage of your 401(k) that you are paying in expenses each year...
Make the best of a bad 401(k)
Make the best of a bad 401(k)
February 23, 2010
...BrightScope Inc., which rates company 401(k) plans, projects that by the year 2020, target date funds will hold more than $2 trillion and represent a third of all 401(k) assets. The current discontent over target date funds stems from their dismal performance during the 2008 market meltdown -- particularly for investors closing in on retirement, who saw their nest eggs drop by 25 percent or more...
Your 401(k): Target Date Funds Disappoint
Your 401(k): Target Date Funds Disappoint
February 18, 2010
...BrightScope's rankings are based on total plan cost, the size of the company match, the quality of the investment choices offered, how many employees participate and how much they save, among other things. "The biggest problem is fees," Alfred said. There's a "huge divergence, particularly at the small end of the market," he said. "Coupled very closely with that is the fundamental lack of transparency and disclosures. ...That's why you see two companies in the same industry, with the same demographics -- and one has fees twice as high," he said...
How well is your 401(k) plan serving you?
How well is your 401(k) plan serving you?
February 18, 2010
...LCM Capital Management, a Chicago based Registered Investment Advisor, announced today that it has selected independent 401k data firm BrightScope to provide its clients and prospects with unbiased third party benchmarking on fees, investments, and performance. BrightScope's proprietary data and 401k benchmarking tools will allow LCM Capital Management to provide retirement plan sponsors with total transparency into the underlying costs and performance of their retirement plans. LCM Capital Management is the first Chicago area investment advisory firm to utilize BrightScope's tools for advisors. ...
LCM Capital Selects BrightScope to Provide 401k Fee Benchmarking to Chicago Area Plan Sponsors
LCM Capital Selects BrightScope to Provide 401k Fee Benchmarking to Chicago Area Plan Sponsors
February 18, 2010
... A San Diego startup called BrightScope Inc. last month launched a free service that lets retirement-plan savers, even at many private companies, look up a detailed rating of their company plan. The service rates plans on 200 data points covering costs, investment choices and company match generosity...
Controlling Retirement Plans
Controlling Retirement Plans
February 12, 2010
...Within weeks of launching the site in January 2009, the brothers had phone calls from the largest plan sponsors in the country, some infuriated by their ratings. Now many of those companies are clients - BrightScope makes money by selling more advanced rating software to companies. "It was like throwing match into the oil," Mike Alfred says...
Sites That Help You Fight the Fees
Sites That Help You Fight the Fees
February 9, 2010
The BrightScope 401(k) plan ratings service is skewering the Investment Company Institute over its defense of target date funds...BrightScope responded to the ICI's paper, attacking each of the points the ICI made. "The ICI list misrepresented many of the basic facts about target date funds and painted an overly rosy picture of the target date fund marketplace," the firm states in its blog posting. "This paper intends to set the facts straight."
ICI slammed over target date defense
ICI slammed over target date defense
February 2, 2010
...At the same time, employees are starting to get more competitive information about their 401(k) plans. One company, Brightscope, publishes ratings on thousands of company plans and includes competitive information about the specifics. Plan participants can go to that Web site and see how much more (or less) they would be able to save if their plan were better or worse...
The Return Of The 401(K)
The Return Of The 401(K)
January 28, 2010
Mike Alfred graduated Stanford University in 2003 and like many jumped into the financial field. He spent years working as a financial advisor and investment manager at several firms including his own, Alfred Capital Management. However he had always had an itch to be a web entrepreneur and with the help of a little Maker's Mark and Monday Night Football that became a reality?
How Mike Alfred and Brightscope are Taking on a 3 Trillion Dollar Industry
How Mike Alfred and Brightscope are Taking on a 3 Trillion Dollar Industry
January 26, 2010
...A new offering by BrightScope Inc., a 401(k) plan ratings and research company, can help you analyze your own 401(k) fees. The online calculator allows you to plug in mutual fund information and get a free report within minutes. BrightScope's analysis and ratings tools thus far have primarily helped HR departments compare plan features and services, but this calculator is designed for employees...
How Much Are You Paying? A Guide to 401(k) Fees
How Much Are You Paying? A Guide to 401(k) Fees
January 22, 2010
...A San Diego company called BrightScope, which rates more than 30,000 401k plans, now has a Personal 401k Fee Report -- and it's free...In fact, the AARP says 83% of plan participants don't know what they're paying in 401k fees...
What does your 401k plan really cost?
What does your 401k plan really cost?
January 22, 2010
..."A lot of people might think, 'Hey, it is only 2% -- that is a small amount,' " says Ryan Alfred, co-founder and president of BrightScope. ``But if your expected rate of return is 8%, and inflation is 3%, you've only got 5% of real return for yourself every year, and you are giving up 2% of that. You are giving up 40% of your return every year."...
Fees Damage Savings More Than Stock Slump
Fees Damage Savings More Than Stock Slump
January 20, 2010
...Brightscope is an independent service that provides detailed information about 401(k) plans. It just announced a new, free service that permits participants in 30,000 rated 401(k) plans to determine how much they are paying for the investments they have made in their personal 401(k)s. You simply identify the plan, answer a few questions about your investment options, and Brightscope will compute your total cost. It will also compare your costs to the average fee for a low-cost IRA investor and calculate the impact of the difference on your average balance over time...
Find Out the Hidden Costs of Your 401(k) Plan ... Free
Find Out the Hidden Costs of Your 401(k) Plan ... Free
January 19, 2010
San Diego based BrightScope, recently launched to help people navigate their 401k retirement plans and how to maximize the benefits. Today, the startup is launching its Personal 401k Fee Report that will let participants can figure out exactly how much they are paying in fees in their specific plan...
BrightScope Launches Personal 401k Fee Report
BrightScope Launches Personal 401k Fee Report
January 19, 2010
..."What better way to win rollover business than to show clients how much they would save through rolling over their 401(k) plan assets to an IRA," Mr. Alfred said. "Also for advisers working with 401(k) plans, this is a great tool to get employees and plan sponsors to understand the fees."...
Brightscope launches 401(k) fee tool for advisers, investors
Brightscope launches 401(k) fee tool for advisers, investors
January 19, 2010
...More than 80% of plan participants have no idea what their 401(k) charges, an AARP survey found. That may be about to change. BrightScope, a San Diego start-up that rates 401(k) plans, has just launched its Personal 401(k) Fee Report tool, which allows investors to quickly determine their plan costs-everything from fund expense ratios to plan consulting fees to administrative charges...
Finally! Your hidden 401k fees revealed
Finally! Your hidden 401k fees revealed
January 18, 2010
..."Plan sponsors and advisors are going to be looking for more data, better metrics to select and monitor their target-date funds...They're looking for new ways to do it," Ryan Alfred, co-founder and president of San Diego-based 401(k) ratings firm, BrightScope, told FA. He pointed out that while it's important to look at performance, there are other factors that must also be considered when evaluating target-date fund families - including whether the fund goes "to retirement or through retirement," internal conflicts of interest, and fees...
T. Rowe Tops Russell's First Ranking of Target-Date Funds
T. Rowe Tops Russell's First Ranking of Target-Date Funds
December 30, 2009
With its vast, free database, researcher BrightScope could alter the retirement landscape as much as Morningstar changed funds...
How Good Is Your 401(k)?
How Good Is Your 401(k)?
December 22, 2009
Brightscope Hits the Big Time - Although created in 2008, this San Diego-based 401k plan data and analytics firm really exploded into the arena in 2009...Their unique and objective rating techniques have caught fire among plan sponsors. With their recent ranking of the top 30 best 401k plans among the top stories in December, who knows what the future holds for this innovative company...
Top Fiduciary Stories in 2009
Top Fiduciary Stories in 2009
December 22, 2009
Many funds, including Fidelity's target-date funds, assume that an investor will not liquidate such assets during retirement. "It's very smart that Fidelity is discussing this," said Ryan Alfred, co-founder and president of BrightScope Inc., a 401(k) ratings and analytics firm. "I think this is the direction that the marketplace has to go."...
Fidelity eyes adding rivals' target-date funds to its 401(k) mix
Fidelity eyes adding rivals' target-date funds to its 401(k) mix
December 21, 2009
BrightScope Founders Mike and Ryan Alfred break down what companies have the best retirement plans.
(Video Interview)
Companies With Best 401(k) Plans
Companies With Best 401(k) Plans
December 14, 2009
...If anyone is poised to capitalize on the Latino 401(k) marketplace it's the insurance companies," explained Mike Alfred, CEO of BrightScope, an independent provider of 401k ratings and financial intelligence to plan sponsors, advisors, and participants. "Insurance companies already provide more services and charge more, which is part of their value proposition. And, they offer language support, which is one of the key things you need to break into the Latino market."...
Latinos: The New 401(k) Market Opportunity?
Latinos: The New 401(k) Market Opportunity?
December 14, 2009
How Does Your Plan Rank? Is my 401(k) any good? Is it terrible? How does it stack up? Those are the questions that many employees invested in their company's retirement plan want to know, especially after the rollercoaster ride of the past year. To answer them, we turned to San Diego-based BrightScope, a startup company that has been analyzing -and rating- the nation's corporate 401(k) plans...In this slideshow, we've culled the ratings by sector, showing you the best and worst 401(k) plans with at least $100 million in assets, among the more than 26,000 such plans that BrightScope rates, in 17 major sectors. We also show the runner-ups for those titles of best and worst...
The Best and Worst 401(k) Plans by Industry
The Best and Worst 401(k) Plans by Industry
December 13, 2009
..."One thing we saw from our work with target date funds this year is that people are getting used to the idea of having a 401(k)," said Ms. Glacel, who acts as a spokeswoman for the committee. "But what do those people do when they take that money out after they retire?" The committee is expected to hold hearings in the spring to examine the various products and proposals that are designed to help retirees live off their savings. Mr. Kohl's campaign to regulate target date funds is up against significant opposition.The mutual fund industry represents a powerful lobby that might stifle his attempts, experts said. "The Department of Labor might come out with guidance about how 401(k) plan sponsors can effectively carry out their fiduciary duty with regard to target date funds," said Ryan Alfred, president of BrightScope Inc., a 401(k) ratings and analytics firm. "But I don't expect the SEC to do anything." ...
He gets riled about risk
He gets riled about risk
December 10, 2009
BOSTON (TheStreet) -- Lockheed Martin, Southwest Airlines, IBM and Chevron are among companies that offered the best 401(k) plans this year. BrightScope, a service that offers retirement-plan ratings and investment research, calculates its reviews with data from plan sponsors, the Department of Labor and the Securities and Exchange Commission. Its ratings system analyzes more than 200 factors and determines a score. Among criteria are plan costs, company generosity, participation rates, salary deferrals and investment-option quality...
America's Best 401(k) Plans of the Year
America's Best 401(k) Plans of the Year
December 9, 2009
...A long-term investor in a 401(k) plan that charges 1.5% in annual expenses is likely to end up with a 20% smaller nest egg than someone in a plan that costs 0.5%, according to a GAO report. Does your 401(k) charge that much or more? Unfortunately, it's tough for you to know now, since total costs, which include fund expense ratios and administrative charges, are often poorly disclosed. Legislation has been introduced in Congress to address the problem, and the Labor Department is expected to release new rules in early 2010 requiring greater transparency about fees. But don't wait for the feds to act. Check out how your plan stacks up against others in its industry at Brightscope.com, a new, free 401(k) service that evaluates more than 15,000 plans on factors such as fees, investment choices, and company matches...
Get your 401(k) above pre-crash levels
Get your 401(k) above pre-crash levels
December 8, 2009
November 30, 2009
If you've never looked closely at your 401k plan, you're not alone. Endless streams of fine print and complicated fee schedules make it difficult for even the savviest of personal finance gurus to understand many of the plans offered by employers these days. Brightscope aims to fix that, though, by introducing transparency to the retirement plans that millions of Americans rely on each year. By using Brightscope's unique ratings system -the first of its kind for 401k plans- employees can find out what their plan really entails and compare it to others that are available...
Brightscope - Rating Your 401k
Brightscope - Rating Your 401k
November 18, 2009
Few investors know what they're paying in administrative and other fees for their 401(k), but there are ways to find out, says Ryan Alfred, president of BrightScope, a retirement-plan ratings and research firm. MarketWatch's Andrea Coombes reports.
How Much Do You Pay for Your 401(k)?
How Much Do You Pay for Your 401(k)?
November 17, 2009
There's a lot of debate about whether 401(k) plans are failing American workers. Publications ranging from CBS MoneyWatch to Time Magazine have reported on their relative failings, as well as on some of the success stories. But there's no doubt that some plans are dogs-failing every employee forced to deal with them. These plans have high costs, poor investment options and stingy matching programs, said Mike Alfred, a San Diego money manager and founder of a 401(k) plan rating service called BrightScope. Some of them also fail to get workers to contribute, which means those workers will have less at retirement age and may have to work longer...
Is Your 401(k) a Dog or a Darling?
Is Your 401(k) a Dog or a Darling?
November 16, 2009
...OUTSIZED EXPENSES - The final difference will not surprise anyone remotely familiar with the mutual fund industry: they tend to be far too expensive. Most target date funds are "funds of funds," which means that the funds themselves have no true manager; their assets are simply invested in a handful of the firm's other mutual funds. There's no additional layer of value added in target date funds, and the manager is being compensated for their services via the expenses charged in the underlying funds. But this doesn't stop most managers from double-dipping. According to Lipper, an amazing 908 of 992 target date funds levy an additional fee on their target date funds, over and above the fees charged by the funds it invests in. Even worse, an analysis by BrightScope of target date funds in retirement plans found that these funds were 10 to 25 percent more expensive than the other core funds that were offered in retirement plans. Assuming that the Department of Labor wasn't interested in finding a way to increase mutual fund managers' revenue, they might want to consider amending their endorsement of these funds, dictating that only target date funds that limit their expenses to those charged by the underlying funds can be used as default investments in retirement plans...
Navigating the Flaws of Target Date Funds
Navigating the Flaws of Target Date Funds
November 14, 2009
MONEY - EVALUATING YOUR 401(K): Yes, your nest egg has taken a hit in the past year. That much is clear. But how does your company's 401(k) stack up against other savings plans in your industry, or around the country? Check out BrightScope Inc., based in San Diego, which evaluates employers' retirement offerings. Started in 2007, the company has rated about 7,000 plans, covering about 22 million workers, with the goal of enhancing "the transparency of 401(k) plan performance and fees for plan sponsors, advisers and participants." Some of the ratings are a bit broad ("average," "poor"), but the service offers a good snapshot of many retirement plans and their components. To learn more, visit brightscope.com.
The Best In...
The Best In...
November 12, 2009
...Understand Your Plan. Step one is to take a look at your plan's investment offerings. It's almost always a bad idea to hold deferred annuities in retirement accounts; if yours contains one, that should be a warning sign. If instead it offers plain-vanilla mutual funds, see how they stack up at places like Forbes.com, which rates funds based on up- and down-market performances. Also inquire about whether your plan has a self-directed brokerage option. Administrative and transaction costs may still apply, but at least it will allow participants to pick their own funds and other securities. If you use a personal financial advisor different from the one servicing your 401(k), ask what he or she thinks of the plan. Research the plan at BrightScope.com. Launched in January, it provides ratings for 15,000 plans free of charge (some data on costs, employer matches and participation rates require a subscription). General Motors, which doesn't match hourly employees' contributions and has an average total plan cost of 0.87%, receives 51 out of 100 points; Lockheed Martin ( LMT - news - people ), with a $3,266 average match and cost of 0.41%, rates an 81...
Fixing Your 401(k)... Think your employer's retirement plan is a dud? Here's how to push for a better one
Fixing Your 401(k)... Think your employer's retirement plan is a dud? Here's how to push for a better one
November 11, 2009
...The company also agreed, after three years in court, to make changes to its 401(k) plans along the lines that investor advocates have been fighting for in Congress. Some seem like common sense, but many companies fail to make them, says Matthew Hutcheson, an independent fiduciary who sets up and manages 401(k) plans, and who has pressed congressional committees for more disclosure of 401(k) fees. "I'm very encouraged by it," he says. Caterpillar says that during a two-year settlement period it "will increase and enhance communication with employees about 401(k) investment options and associated fees." A memorandum filed by plaintiffs in support of the settlement says Caterpillar would detail specific fees charged to participants. Transparency can be transforming, but the devil's in details, cautions Michael Alfred, co-founder of Brightscope, which rates 401(k) plans...
Caterpillar Suit Could Lower 401(k) Fees
Caterpillar Suit Could Lower 401(k) Fees
November 10, 2009
On November 2, 401k Ratings Firm BrightScope announced it was partnering with Target Date Analytics LLC to promote a new index: the BrightScope On Target Index. The intention is to establish a national standard target date benchmark for the 401k industry. The San Diego, Calif.-based 401k data and analytics firm BrightScope, which rates 401(k) plans, went live in January and now has more than 16,500 plans in its database. BrightScope co-Founder and CEO Mike Alfred graciously consented to an exclusive interview with FiduciaryNews in between meetings in Washington DC...
Exclusive Interview with BrightScope, Inc. Co-Founder Mike Alfred on Rating Target Date Funds.
Exclusive Interview with BrightScope, Inc. Co-Founder Mike Alfred on Rating Target Date Funds.
November 8, 2009
...The issue is that the top 401(k) record keepers dominate the target date fund market, critics said. In response to hearings held Oct. 28 by the Senate Special Committee on Aging on conflict-of-interest issues associated with target date funds, the Investment Company Institute said a statement: "Plan sponsors can choose whether or not to use target retirement date funds offered by the plan's record keeper." But non-proprietary funds are rarely chosen, according to research conducted exclusively for InvestmentNews by BrightScope Inc., a 401(k) data and analytics firm...
Smaller players foundering in target date fund market
Smaller players foundering in target date fund market
November 2, 2009
SAN DIEGO, Calif. (AP) - Retirement fund ratings company BrightScope Inc. said Monday it has partnered with consultant Target Date Analytics LLC to design a Web site to help investors track the performance of target date funds. These types of funds, also known as lifecycle funds, typically become more conservative as the investor approaches retirement... ...The new product, the BrightScope On Target Index, is designed to help 401(k) plan sponsors, advisers and investors measure the performance and risk of their target date fund, said BrightScope CEO Mike Alfred. He said some companies offering target date funds were caught holding more stocks near the retirement date than was prudent. One reason is that companies can charge a higher expense ratio in equity funds than bonds funds, making stock funds more profitable, Alfred said. The target index will give participants a way to see how accurately a target date fund is meeting goals outlined in its plan documents...
BrightScope, Target Date Analytics Form New Index
BrightScope, Target Date Analytics Form New Index
November 2, 2009
BrightScope, a San Diego, Calif.-based 401(k) data and analytics firm, announced on Monday a partnership with Target Date Analytics LLC to launch the BrightScope On Target Index. Effective today, plan sponsors and advisers who sign up to use BrightScope's online tools to compare their plans' performance to others will now also be able to benchmark the target date funds within their plans. BrightScope, which rates 401(k) plans, went live in January and now has more than 16,500 plans in its database. Adding a target date fund index for subscribers makes sense given how prevalent these fund are in 401(k) plans, said Ryan Alfred, co-founder and president of BrightScope...
BrightScope launches target date benchmark tool
BrightScope launches target date benchmark tool
November 2, 2009
...Many of the most respected investment managers, investment committees, investment advisors, investment stewards, trust companies and record keepers already rely on Target Date Analytics' target date research, data, and indices. "We've worked with Target Date Analytics for several years and been very impressed," said David Hand, CEO of Hand Benefits & Trust. "BrightScope is a leading provider of 401k data and analytics and I'm confident this new partnership will be beneficial for the industry." The BrightScope On Target Index gives 401k market participants the ability to see how accurately a target date fund lives up to its stated goals as outlined in the prospectus. Unlike other target date indexes, the BrightScope On Target Index considers actual participant behavior when determining the appropriate asset allocation for participants approaching retirement. Industry adoption of the BrightScope On Target Index will help improve participant outcomes and ensure retirement income security...
401k Ratings Firm BrightScope Partners With Target Date Analytics to Unveil the BrightScope On Target Index
401k Ratings Firm BrightScope Partners With Target Date Analytics to Unveil the BrightScope On Target Index
November 2, 2009
...In the meantime, there's BrightScope. Using public Form 5500 data and other sources, this startup gathers the information, crunches the numbers, and assigns single-number scores to the 401(k) plans of more than 4,500 companies...Ratings take into account factors such as investment menu quality and plan design, as well as performance issues like participation rate and average account balance which are of interest mostly to professionals like ourselves...
Throwing a Wrench in the Fee Machine
Throwing a Wrench in the Fee Machine
October 29, 2009
How good is your 401(k) plan? If you're like most workers, you probably don't have a clue. But now there's a free service to help you figure out how your retirement savings plan stacks up. BrightScope, an independent 401(k) ratings and analytics firm, relies on public documents to grade 401(k) plans based on such things as their administrative costs, investment returns and expenses, and company contributions. It uses the information to come up with a single score between 1 (poor) and 100 (excellent). For example, Google's 401(k) plan scored an 80, based on its low fees, generous company match and great employee-participation rate. But it lost points for its below-average investment menu and the so-so account balances of its workers...
Rate Your 401(k) Plan
Rate Your 401(k) Plan
October 28, 2009
...The criticism of the 401(k) as the primary retirement savings method for a majority of workers has grown with the stock market crash and account losses. Some critics want the voluntary savings plans to be replaced by a government-run retirement system. Others suggest adjustments to the 401(k) that make them less susceptible to market losses. The 401(k) itself shouldn't be blamed, however, said Mike Alfred, the CEO of Brightscope Inc., a Web-based 401(k) ratings service. "People are going to say if they oversimplify things, that it's a failure of the 401(k) plan, but in reality it's an issue of the failure of our educational system to incorporate financial literacy for kids at a young age," Alfred said...
Half of workers changing jobs cash out 401k
Half of workers changing jobs cash out 401k
October 27, 2009
...To benefit, you must participate. Some statistics always amaze me, and one is that at many companies, participation rates are terrible. Sometimes, there are obvious reasons -- Starbucks (Nasdaq: SBUX), Convergys (NYSE: CVG), and Yum! Brands (NYSE: YUM), for instance, all have low participation rates, according to 401(k) tracker Brightscope. And that's not surprising -- Starbucks stores, Convergys's call centers, and Yum's KFC and Taco Bell locations all employ lots of lower-wage part-timers and young folks, and they tend not to be avid retirement savers. If that describes you, be the exception to the rule: Starting early pays off big...
5 Retirement-Trashing Moves
5 Retirement-Trashing Moves
October 27, 2009
The Senate Committee on Aging will look into potential conflicts of interest and high fees in target date funds, with Michael Case Smith, Avatar Associates; Mike Alfred, Brightscope CEO; and CNBC's Sue Herera
Targeting Target Date Funds
Targeting Target Date Funds
October 26, 2009
...Nearly half of employees withdraw their 401(k) savings when leaving one company for another. Big mistake. "People don?t realize that they don?t have to cash out," says Mike Alfred, CEO of BrightScope, a 401(k) rating site. "We call it 'leakage.' They could roll the money into a new 401(k) or IRA"...Your benefits department should be able to get you fee information, but also check BrightScope?s "Total Plan Cost" for your company to see how its 401(k) fees (which you are paying in addition to fund expense ratios) compare with the universe of plans...
The 12 Dumbest 401(k) Mistakes
The 12 Dumbest 401(k) Mistakes
October 25, 2009
A few weeks ago, the committee asked BrightScope Inc., a 401(k) ratings and analytics firm, for data on how much target date funds cost, compared with other investment options within 401(k) plans. "We ran those numbers across the 15,000 plans in our database, and it came up that target date funds were 10% to 25% more expensive than other funds in the core menu," said Ryan Alfred, co-founder and president of BrightScope....
Senate to address conflicts in proprietary target funds
Senate to address conflicts in proprietary target funds
October 23, 2009
How does your 401(k) stack up to other retirement plans?
(Video Interview with Mike Alfred, BrightScope CEO)
Comparing 401(k)s
Comparing 401(k)s
October 18, 2009
As you might already know a 401(k) plan is something that was designed for workers in the United States of America to save money for their retirement. One particularity about this plan is the fact that it gives workers the chance to have their savings invested while they postpone the taxes they have to pay for their money and earnings until they retire. In this way, employees have the possibility to decide if they will get a part of their salary paid directly, or if they will move it to their 401(k) account. The BrightScope RatingTM is a system that was developed in order to rate different 401k plans. This solution will help you to know which the best 401k plans are because it was created in association with the most important independent fiduciaries, as well as highly qualified finance professors and many 401k experts...
BrightScope.com - How To Get A Better Retirement Plan
BrightScope.com - How To Get A Better Retirement Plan
October 17, 2009
...But the move toward employer decision-making can present risks for participants. The steps are driving more savings into target-date funds, which hold a broad mix of investments and become more conservative over time. Many target-date funds were walloped last year in the market slide, sparking scrutiny from lawmakers and regulators. The Senate Committee on Aging this month plans to examine fees, risks, and potential conflicts of interest in these funds. In a recent analysis of investment options in nearly 13,000 plans, 401(k) data and analytics firm BrightScope Inc. found that expenses charged by target-date funds are significantly higher than those levied by other funds on plans' core investment menus...
Employers Begin Driving Your 401(k)
Employers Begin Driving Your 401(k)
October 16, 2009
I recently attended a conference in New York City featuring some leading financial services technology providers. For my retirement planning audience here at About.com, one seemed immediately worth sharing: Brightscope. Free for consumers like you to use, Brightscope allows for a "Morningstar-like" visibility into your corporate retirement plan. While not every plan has been analyzed, the database is already quite extensive and continues to grow. Use the database it to compare your current employer's plan to an old plan or even, one day, to a potential new employer's plan. Information is power and Brighscope is doing a great deal of work to increase transparency in your fund options and fees. Given that you often have very little say as to what you are offered, this is an important initiative...
Michael's Retirement Planning Blog
Michael's Retirement Planning Blog
October 15, 2009
BrightScope, the brain child of two investment managers and a former engineer at HP, allows you to look at your company's plan in a way that was not possible previously. Designed to help human resource departments make good choices about plans, BrightScope seeks to give these folks some sort of benchmark to judge how their plan is run and how their employees access it and use it. BrightScope realized that "because benefits data has been controlled by a small group of companies that are not incentivized or governed by the same fiduciary standards that a plan sponsor must honor" difficulties in determining which is the best plan to offer their employees was not possible...
Shining a Light on Your 401(k)
Shining a Light on Your 401(k)
October 13, 2009
...At one $54 million construction company in Idaho, the company's founder runs the plan. His main qualification? Four decades in construction. Ultimately, these people have authority over which funds will be offered, what fees employees will pay and how much education and advice workers will get - the kind of features that dictate how each worker's investments will fare. "Your performance depends on the decisions they make" says Mike Alfred, CEO of BrightScope, a California company that rates 401(k) plans...
Who's Running Your 401(k): An Overview
Who's Running Your 401(k): An Overview
October 2, 2009
Want to rate your 401(k) plan? Try BrightScope.com, which rates employer plans and compares them with peers. One of 31 companies at the Finovate 2009 Conference on online financial services innovations last week, BrightScope has rated 10,000 plans - 348 on Long Island and New York City - and is shooting for 30,000 by year-end. Plans are rated by costs/fees, employer generosity, investment quality and participation rate. If yours isn't rated, you can visit the site's "plan data vault" to find out how to get it scored...
Money Fix: See how your 401(k) stacks up
Money Fix: See how your 401(k) stacks up
October 1, 2009
I've reported several stories regarding problems with 401(k) plan administrators siphoning off billions of dollars in fees from workers saving for their retirements. But since many fees are hidden, it's fairly difficult for plan participants to figure out if their 401(k) is a winner or a loser. Enter BrightScope, a research firm that boasts the largest database of 401(k) data and analytics in the U.S., run by brothers Mike and Ryan Alfred. A kind of Morningstar for 401(k) plans, it reviews 4,500 different company plans on a variety of metrics including fees, participation rates and employer matches...
Smart Tools for Shopping, Saving and Investing
Smart Tools for Shopping, Saving and Investing
September 29, 2009
Wall Street Journal
BrightScope today announced tools that allow plan sponsors and advisers to sift through the best and worst 401(k) plans out there. Presently, everyday users can look up their employers? plans for free and see letter grades. The grade is generated by crunching the fine print of the plan from federal filings, as well as comparing it to similar plans...
Finovate: Welcome to the World of Savings
BrightScope today announced tools that allow plan sponsors and advisers to sift through the best and worst 401(k) plans out there. Presently, everyday users can look up their employers? plans for free and see letter grades. The grade is generated by crunching the fine print of the plan from federal filings, as well as comparing it to similar plans...
Finovate: Welcome to the World of Savings
September 29, 2009
Analytics at the BrightScope website show everything about plans including their projected solidity in the market, past performance numbers, cost of management versus actual investment, and more. Basically, BrightScope is full disclosure for 401k investments. To use BrightScope, all you need to do is go to the site, search for your company?s name (a helpful list of suggested corporate monikers appears as you type). The company?s 401k plan is then shown along with common metrics on a chart. You can click on most aspects to get a little more information, but for the most part, everything you really need to know is presented right away...
BrightScope - Ratings for 401K Plans
BrightScope - Ratings for 401K Plans
September 28, 2009
Wall Street Journal
Tuesday is Finovate - a personal finance and tech conference here in New York. As we've mentioned before, the event is like March Madness for people who dig online personal finance tools...BrightScope tries to shed light onto 401(k) plans, rating and showing the differences among various plan costs and average performance...
Finovate 2009 Preview
Tuesday is Finovate - a personal finance and tech conference here in New York. As we've mentioned before, the event is like March Madness for people who dig online personal finance tools...BrightScope tries to shed light onto 401(k) plans, rating and showing the differences among various plan costs and average performance...
Finovate 2009 Preview
September 17, 2009
USAToday.com
Administrative, investment and other fees can make the uphill climb to retirement even steeper. Unfortunately, most employees don't know how much money fees are draining from their savings, and plans don't make it easy to find out. Most large 401(k) plans are able to negotiate lower fees than you would get investing on your own. But some small companies, lacking the clout that big money offers, are forced to rely on high-cost plan providers. BrightScope, a California-based start-up, analyzes fees for about 4,500 plans and shows how they rate compared with the plans of other companies in their peer group. The website is free...
Three savings tips for all ages
Administrative, investment and other fees can make the uphill climb to retirement even steeper. Unfortunately, most employees don't know how much money fees are draining from their savings, and plans don't make it easy to find out. Most large 401(k) plans are able to negotiate lower fees than you would get investing on your own. But some small companies, lacking the clout that big money offers, are forced to rely on high-cost plan providers. BrightScope, a California-based start-up, analyzes fees for about 4,500 plans and shows how they rate compared with the plans of other companies in their peer group. The website is free...
Three savings tips for all ages
September 15, 2009
Hey, Apple employees: Your 401(k) sucks. So say Mike and Ryan Alfred, who have worked with the likes of Lockheed Martin and American Airlines to develop BrightScope, a free site that ranks retirement plans on everything from provider fees to participation rates to match contributions. (Apple scores a troublesome 63 out of 100 points; Microsoft: 79.) "Employers need leverage to demand lower fees from 401(k) providers," explains Mike Alfred, who charges companies to dive into detailed plan data...
Money Changers: Eight Startups Brimming With Hope for the Financial Industry
Money Changers: Eight Startups Brimming With Hope for the Financial Industry
September 14, 2009
How good is your 401(k) plan? If you're like most workers, you probably don't have a clue. But now there's a free service to help you figure out how your retirement savings plan stacks up. BrightScope (www.brightscope.com), an independent 401(k) ratings and analytics firm, relies on public documents to grade 401(k) plans based on such things as their administrative costs, investment returns and expenses, and company contributions. It uses the information to come up with a single score between 1 (poor) and 100 (excellent)...
Rate Your 401(k) Plan
Rate Your 401(k) Plan
September 5, 2009
If you want to find out how good is your 401(k) plan, BrightScope can help. It is a website that makes evaluating 401k plans easier. Just enter a name of the company you work for and BrightScope will show you its plan ratings along with the data it used to develop that report...
BrightScope: Evaluating Your 401k Plan Made Easy
BrightScope: Evaluating Your 401k Plan Made Easy
September 2, 2009
San Diego based BrightScope, which launched earlier this year, helps people understand their 401k retirement plans and how to maximize the benefits. That's a much needed service: the company says 30% of workers don't participate at all in their company 401k programs. 22% don't contribute enough to maximize matching benefits from companies, and 80% of workers have no idea how much they're paying in 401k administrative and other fees. BrightScope shines a light on all that and helps people take better advantage of these programs...
401k Plans Are Hard To Understand. BrightScope Raises $2 Million To Fix That.
401k Plans Are Hard To Understand. BrightScope Raises $2 Million To Fix That.
September 2, 2009
Like driver's license copies and health insurance sign-ups, 401k plans are something most employees sign off on their first day and never look back at. Webapp Brightscope aims to give workers fare more information about how their plan is doing. The independent site provides a number ranking for companies it can compile data on, taking fees, employer contribution matching, employee participation, and other factors into account...
Brightscope Rates and Explains Your 401k Plan
Brightscope Rates and Explains Your 401k Plan
September 2, 2009
I've always assumed that I'm unusually clueless when it comes to managing my finances and planning for retirement, but no, everyone else is confused too - at least according to a startup called BrightScope. Naturally, BrightScope says it can help, particularly with analyzing the 401k plans that workers use to save for retirement. The San Diego company just raised $2 million in a second round of funding. For evidence of the widespread befuddlement it's hoping to capitalize on, BrightScope points to data from Hewitt Associates and the AARP showing that 30 percent of workers don't participate in 401k plans offered by their companies, while 80 percent of participants say they don't know how much they're paying in fees. To help employers and employees understand their plans, BrightScope says it has rated 7,000 401k plans and made those ratings available on its website...
BrightScope gets $2M more to help you understand your retirement plan
BrightScope gets $2M more to help you understand your retirement plan
August 30, 2009
If you've ever wondered how much love your employer gives you by offering a 401(k) or other retirement savings plan, now there's a way to find out... "What the industry needed was a quantitative score, like the Morningstar rating for mutual funds or J.D. Power ratings," Mr. Alfred said. "Participants are relieved to finally have a resource to help them understand whether a plan is good."...
Web site rates 401(k), other savings plans
Web site rates 401(k), other savings plans
August 25, 2009
USA Today
One company, BrightScope, saw an opportunity to step in and offer 401(k) plan employers and employees plan analysis. The small, California-based start-up rates 4,500 401(k) plans. Its goal is to have 30,000 plans rated by year's end. The site recently started to offer more detailed information to employers for a fee, but the basic information to employees is free...
Fees can drain your 401(k) retirement savings
One company, BrightScope, saw an opportunity to step in and offer 401(k) plan employers and employees plan analysis. The small, California-based start-up rates 4,500 401(k) plans. Its goal is to have 30,000 plans rated by year's end. The site recently started to offer more detailed information to employers for a fee, but the basic information to employees is free...
Fees can drain your 401(k) retirement savings
August 24, 2009
So just how good is your 401(k)? It's hard to know. Answering that question is the catalyst behind BrightScope.com, a company started in January by two brothers, Mike and Ryan Alfred, to uncover the good, the bad and the ugly of employee-retirement plans. The company has developed a database for 401(k) information that allows visitors to its Web site to punch in a company name and see a rating for their plan, along with the data used to develop that report card. Included among the more than 2,000 statistics are net plan assets, the number of participants, fees, the average account balance, service providers and top investment holdings...
The Best and Worst Company 401(k)'s
The Best and Worst Company 401(k)'s
August 24, 2009
The 401(k) retirement plans of International Paper Co. and Buckeye Technologies Inc. rank among the top performing plans analyzed by BrightScope. The independent online data analysis firm gave Memphis-based IP's plan a rating of 76 out of 100, making it among the top 15% of plans in its peer group, BrightScope said....
IP, Buckeye 401(k) plans rank high
IP, Buckeye 401(k) plans rank high
August 17, 2009
Have a hunch that your 401(k) plan is laden with fees? Plug in your company's name at BrightScope.com and the tool will spit out a BrightScope rating that takes into account more than 200 factors such as total plan cost, company generosity and investment menu quality. If you've ever been curious about how your retirement stash compares to your cube-neighbor's, the site also reveals the average account balance at your company. And if you've ever wondered if your competitor has a better retirement plan, BrightScope.com will tell you...
Evaluate your 401(k) plan and your financial adviser
Evaluate your 401(k) plan and your financial adviser
August 14, 2009
Think your 401k plan is free? You're wrong. As a rational person who also happens to receive a 401k statement from time to time, you might reasonably assume that your plan is delivered free of charge. There's no mention of fees anywhere. Bully for you! A free lunch at last. The catch with 401k plans: You are not the consumer. You're not making the buying decision, so you don't need to know the fees...
The Secret Life of 401k Fees
The Secret Life of 401k Fees
August 5, 2009
An online service called BrightScope rates numerous companies' retirement plans according to overall quality, company generosity, investment menu quality, and more. Here is a smattering of ratings for some of the Dow component companies...If you don't think your employer can make that much of a difference, look more closely at BrightScope's ratings. The site compares each rated company with the top-rated company in its peer group, then shows what impact any relative shortcomings in its retirement plan may have for workers there...
How This Fool Earned $1.5 Million
How This Fool Earned $1.5 Million
August 5, 2009
BrightScope Co-Founder and CEO Mike Alfred on how BrightScope helps people find out how their 401(k) rates to make sure they are prepared for retirement (Video Interview)...
Rating Your 401(k)
Rating Your 401(k)
August 5, 2009
The center of gravity on 401(k) legislation has long been the office of Rep. George Miller (D-CA), who chairs the House Committee on Education and Labor and has taken great interest in issues relating to retirement security in general and defined-contribution plans in particular. Miller is the lead sponsor of H.R. 2989, which combines fee disclosure provisions with a requirement that investment professionals providing advice to retirement plan participants be genuinely independent. All of which sounds good to us. And to our friends at BrightScope, where Ryan Alfred has posted a comprehensive assessment of H.R. 2989's investment advice component. Here's Ryan's conclusion...
BrightScope on 401(k) Legislation
BrightScope on 401(k) Legislation
August 3, 2009
Wall Street Journal:
Proposed legislation aims to give business owners and their employees a clearer view of retirement-plan expenses... More transparency, advocates say, should help lower the cost of running a 401(k) plan and allow businesses to more easily comparison shop, says Mike Alfred, chief executive of BrightScope, a San Diego provider of 401(k) analysis and benchmarking. "With more information in the marketplace", he says, "what should happen is all fees should come down and that should easily offset and outweigh any incremental cost of a new disclosure process"...
Small 401(k) Plans Often Pay Big Fees
Proposed legislation aims to give business owners and their employees a clearer view of retirement-plan expenses... More transparency, advocates say, should help lower the cost of running a 401(k) plan and allow businesses to more easily comparison shop, says Mike Alfred, chief executive of BrightScope, a San Diego provider of 401(k) analysis and benchmarking. "With more information in the marketplace", he says, "what should happen is all fees should come down and that should easily offset and outweigh any incremental cost of a new disclosure process"...
Small 401(k) Plans Often Pay Big Fees
July 31, 2009
Mike Alfred thinks Silicon Valley VCs are mostly clueless, and he plans to prove it with the help of some powerful financiers. Alfred, 28, is co-founder and chief executive of San Diego-based Brightscope, a two-year-old company focused on giving people tools to compare their company's 401(k) plan to that of other similar companies...
The Dawn of a New Morningstar?
The Dawn of a New Morningstar?
July 27, 2009
WalletPop's Lan Nguyen chats with Mike Alfred, co-founder and CEO of BrightScope.com, an Internet-based 401(k) analytics firm, about how to make the right 401K choices. Since its launch in January, the California company has examined and rated 4,000 plans from some of America's largest employers, including Boeing and McDonald's...
Maximizing your 401(k)
Maximizing your 401(k)
Maximizing your 401(k)
July 18, 2009
Wall Street Journal:
To avoid breaking out these administrative fees separately, which might prompt employers to more closely examine plan costs, plan advisers tend to promote the use of funds -- often actively managed -- that have plenty of revenue sharing to cover all these costs, critics say. "Obscurity allows fees to stay higher for longer," says Ryan Alfred, the president of 401(k) data and analytics firm Brightscope...
More Index Funds Sought for 401(k)s
To avoid breaking out these administrative fees separately, which might prompt employers to more closely examine plan costs, plan advisers tend to promote the use of funds -- often actively managed -- that have plenty of revenue sharing to cover all these costs, critics say. "Obscurity allows fees to stay higher for longer," says Ryan Alfred, the president of 401(k) data and analytics firm Brightscope...
More Index Funds Sought for 401(k)s
July 14, 2009
Wall Street Journal Blog:
You can't easily change the fundamentals of your retirement plan, but a new Web site aims to give investors some insight into how their company's 401(k) plan compares to others. BrightScope.com uses Department of Labor data that companies must file and other information to rate more than 2,400 company-sponsored retirement plans...
How Does Your Company's 401(k) Plan Rate?
You can't easily change the fundamentals of your retirement plan, but a new Web site aims to give investors some insight into how their company's 401(k) plan compares to others. BrightScope.com uses Department of Labor data that companies must file and other information to rate more than 2,400 company-sponsored retirement plans...
How Does Your Company's 401(k) Plan Rate?
July 14, 2009
Tools for increasing transparency are not limited to health benefits. For example, BrightScope, Inc., rates 401(k) plans on how quickly they can get an employee to retirement. The company has rated 2,400 retirement plans so far and says it will have rated 30,000 plans by year's end...
Employee Benefits: Transparency, Accountability Needed
Employee Benefits: Transparency, Accountability Needed
July 13, 2009
CNBC.com:
While almost every major type of retirement vehicle (including IRAs) comes with some plan administration fee, Mike Alfred, co-founder of the retirement plan rating company BrightScope, says savers rarely know how much they're paying."If a plan is outside a 401(k), you can usually see what fees you're paying," says Alfred. "If you're in a 401(k), it's virtually impossible for the average consumer to get data on what administrative fees they're paying because companies aren't required to disclose that information."...
Five Retirement Fees to Lower or Avoid
While almost every major type of retirement vehicle (including IRAs) comes with some plan administration fee, Mike Alfred, co-founder of the retirement plan rating company BrightScope, says savers rarely know how much they're paying."If a plan is outside a 401(k), you can usually see what fees you're paying," says Alfred. "If you're in a 401(k), it's virtually impossible for the average consumer to get data on what administrative fees they're paying because companies aren't required to disclose that information."...
Five Retirement Fees to Lower or Avoid
July 2, 2009
Way back at the start of this wild year, we celebrated the launch of BrightScope, a leading light in the movement for greater (indeed, the greatest possible) transparency in the retirement plan market. We titled that first item "A Great Leap Forward." Today, we're pleased to note another step in the right direction: BrightScope's consolidation and presentation of data from Form 5500 for a huge number of plans--somewhere, we think, in the neighborhood of 500,000...
More Good Stuff from BrightScope
More Good Stuff from BrightScope
June 16, 2009
Online 401(k) ratings system company BrightScope is looking to expand the number of plan ratings it has in its system in order to allow plan sponsors across the country to compare their plans against a benchmark....
401(k) Ratings System Aiming For A Larger Footprint
401(k) Ratings System Aiming For A Larger Footprint
June 6, 2009
Some colleagues recently directed me to a new website that independently analyzes 401k plans from public data sources...The website has gained some prominence among independent fiduciary 401k advisors across the country. How does your company's 401k plan rate?...
BrightScope 401k Ratings
BrightScope 401k Ratings
May 21, 2009
BrightScope is one website that approaches the kind of functionality I am searching for. It allows each visitor to provide limited information about his or her company's 401(k) plan in order to develop a variety of ratings. Thanks to other employees who have uploaded plan information, BrightScope was able to evaluate my employer...
Compare Your Company's 401(k) Retirement Plan
Compare Your Company's 401(k) Retirement Plan
May 21, 2009
Yesterday, the ICI posted a comment on Ryan's response at BrightScope's blog and a longer response at its own website. We're pleased to see this discussion continue. It's important. And judging by the progress we've already made, it should help sponsors, participants, service providers, policy-makers, and reporters better understand the 401(k) marketplace...
Our Response to ICI's Response to BrightScope's Response to ICI's 401(k) Survey
Our Response to ICI's Response to BrightScope's Response to ICI's 401(k) Survey
May 20, 2009
What has me thinking about this today? It is this excellent post by Ryan Alfred of BrightScope on the range of fees and costs in funds, a fiduciary's obligations to understand all of them, and the lack of transparency as to exactly what plans are actually paying in fees and costs. Moreover, he points out the systemic differences among how different knowledgeable parties - experts may be a fair statement - calculate such fees and costs....
Thoughts on Costs and Fees in 401(k) Plans
Thoughts on Costs and Fees in 401(k) Plans
May 19, 2009
Question: Is there a listing that would allow me to see how my 401(k) plan compares with other companies' 401(k)s? --Debbie W., Mount Laurel, New Jersey
Answer: The first place you should try is the Web site of a new independent rating service called BrightScope..."
A report card for your 401(k) plan
Answer: The first place you should try is the Web site of a new independent rating service called BrightScope..."
A report card for your 401(k) plan
May 14, 2009
Last Friday, we posted an item on the Investment Company Institute's latest efforts to obscure the true costs of qualified retirement plans. We think we touched on a few important points, and that post generated quite a lot of traffic around here for a few days. But the more important contribution to this discussion--more important by far--is Ryan Alfred's latest post at BrightScope's blog. This is required reading, and it's required this very second...
BrightScope Gets It
BrightScope Gets It
May 14, 2009
The Investment Company Institute's recent report on plan fees says a median 401(k) "all-in" fee could be about 0.72%. BrightScope's Ryan Alfred says not so fast. The sample was off, and off in a way that would produce lower median fees. It's not just that, but he's also concerned the group might be trying to use the median number as representative of the marketplace despite the fact that they expressly say it shouldn't be used that way in the actual report. Take a listen and let us know what you think.
The EBA Raw Bar with Ryan Alfred of BrightScope
The EBA Raw Bar with Ryan Alfred of BrightScope
May 5, 2009
The 401(k) plans many U.S. workers will rely on when they retire are getting a good going-over at BrightScope, a new Web site that lets plan participants and sponsors see how their 401(k) measures up against the competition...
Shining a Light on 401(k)s
Shining a Light on 401(k)s
April 24, 2009
It's been a precipitous fall. The balance in the majority of 401(k)s keep going lower and lower and lower. Now,to add insult to injury, investors are learning that it's not just the stock market that is hurting their bottom line, it's the fees being charged by their 401(k) provider...
Those Pesky 401(k) Fees. You Could Be Paying Excessive and Unreasonable Fees.
Those Pesky 401(k) Fees. You Could Be Paying Excessive and Unreasonable Fees.
April 17, 2009
I had dinner recently with the brothers Alfred, Mike and Ryan, two of the co-founders of BrightScope, and much of the conversation centered around the question of transitioning the management and analysis of 401(k) plans from a practice oriented perspective to a plan participant oriented one...
Looking at Fiduciary Performance from the Vantage Point of a Plan Participant
Looking at Fiduciary Performance from the Vantage Point of a Plan Participant
March 30, 2009
"As we've written in the past, the faltering stock market, combined with employers eliminating their 401(k) matching contributions, has made retirement security quite a gamble. But if you are one of the brave, a new tool can help you find out how your 401(k) measures up to 401(k) plans at other companies..."
How does your 401(k) measure up (or fall short)?
How does your 401(k) measure up (or fall short)?
March 30, 2009
"Many companies are suspending their 401(k) match in an effort to improve their bottom line. But some employers still offer a generous contribution to retirement accounts. U.S. News asked BrightScope..."
The 30 Companies With the Best 401(k) Matches
The 30 Companies With the Best 401(k) Matches
March 29, 2009
"With the retirement hopes of tens of millions of Americans riding on 401k plans, it is noteworthy that very little has been done to allow 401k participants to compare and rate these plans... A new web service called BrightScope aims to change that. Using a complex methodology that 'is 100% quantitative' and 'truly independent', the BrightScope service gives a company's 401k a numeric score between 0 and 100 and plots the company's score along a colorful chart that also shows lowest, highest and average ratings of 401k plans in that peer group..."
Tools for Rating Your 401k
Tools for Rating Your 401k
March 22, 2009
"Our friend Matt Hutcheson, a global authority on 401k regulation who regularly testifies for congress, sent us this link today to a blog entry on Brightscope showing trust in organizations is only 12% as of December 2008. They call 2009 the year of Transparency in an articulate call for more light in financial regulation..."
Kellogg Financial Trust Index
Kellogg Financial Trust Index
March 20, 2009
"Do your retirement funds keep up with the Joneses? Find out..."
How Your 401(k) Stacks Up to Others
How Your 401(k) Stacks Up to Others
March 18, 2009
"Even though most people I know are too scared to even look at their 401(k) statements right now, have you ever thought about how well your company's plan stacks up to other similar companies?..."
Brightscope: How Does Your Company's 401k Plan Compare?
Brightscope: How Does Your Company's 401k Plan Compare?
March 17, 2009
"We asked BrightScope - a new online database that has analyzed more than 1000 plans, based on information from companies and filings from the U.S. Labor Department and Securities and Exchange Commission - to sift through plans with at least $100 million in assets."
How Does Your 401(k) Stack Up?
The Best 401(k) Plans
The Worst 401(k) Plans
How Does Your 401(k) Stack Up?
The Best 401(k) Plans
The Worst 401(k) Plans
March 9, 2009
"A new ranking system has emerged in the defined contribution universe, allowing plan participants, plan executives and others to compare performance of different funds and see just how their company's retirement plan stacks up."
New ranking pits DC plan vs. DC plan
New ranking pits DC plan vs. DC plan
March 1, 2009
"Move over health care, the brothers Alfred aim to equip retirement plan participants with just the kind of tools and information that the CDH movement has been hungering for for years. What a difference a historic economic crisis can make."
Front and Center
Front and Center
February 25, 2009
"When it comes to 401(k)'s, a new La Jolla company considers itself the industry watchdog, arming clients with the analytical tools they need to make educated decisions about their retirement plans."
La Jolla company will rate your 401(k) plan
La Jolla company will rate your 401(k) plan
February 24, 2009
Still parceling out items of interest that have stacked up on my desk in the last week or so. Among the things I still haven't gotten to, I have to admit, is a careful reading of the Seventh Circuit's recent decision in Heckler v John Deere, but I will, shortly. In the meantime, though, the bright guys over at BrightScope have, and their's is a very interesting take. You can find it right here. Its clear, when you read the post, that they don't just have the analytics down when it comes to 401(k) plans, but also their structure and the manner in which they operate.
Shining a BrightScope on Heckler v. John Deere
Shining a BrightScope on Heckler v. John Deere
February 13, 2009
"Consumers in the market to buy cars, computers or practically anything can turn to a plethora of resources to find the best deal. But when it comes to 401(k) plans there's a noticeable gap... That is until last month's launch of BrightScope..."
Bright(Scope) Idea: Firm Launches Site to Compare 401(k)s
Bright(Scope) Idea: Firm Launches Site to Compare 401(k)s
February 13, 2009
Have you ever wondered how your 401(k) stacks up against other company retirement plans? "Now you have a chance to find out. A new independent rating service called Brightscope is starting to analyze and compare 401(k) plans nationwide."
Find out how your 401(k) stacks up
Find out how your 401(k) stacks up
February 11, 2009
"I love this story. A couple of weeks ago I blogged about BrightScope's launch, and pointed out my view that more information generally means less litigation. I learned thereafter that some think that is a counter-intuitive thought; presumably, people who believe that think that if you cover up problems and don't let people know what's going on, they may not find out and thus may not sue you..."
Do People Who Are Told the Truth Sue?
Do People Who Are Told the Truth Sue?
February 10, 2009
"Both Congress and the U.S. Department of Labor--the federal agency charged with overseeing the fiduciary aspects of retirement plans--have given 401(k) fee disclosure plenty of attention. Still, while proposed regulations and legislation work their way through the system, it's a small, privately-held business that puts fee transparency and other 401(k) features into a practical setting. The company is BrightScope, Inc., an independent data analytics firm that just launched a 401(k) ratings disclosure Website featuring the BrightScope Rating, the nation?s first online 401(k) rating system--it judges various plans and spits out a hard number for you to look at...
How Does Your 401(k) Rate?
How Does Your 401(k) Rate?
February 1, 2009
"Employees can use Brightscope to find out how good - or bad - their 401(k) plan really is... Employers can pay Brightscope to obtain a full set of analytics used by Brightscope to rate its plan. It should be a win/win, for employees and employers. It's long overdue. Brightscope is a very bright idea."
Check out your 401(k) in ten seconds
Check out your 401(k) in ten seconds
January 31, 2009
"I think the BrightScope rating system has some merit in that it might encourage employers with poorly rated plans to examine options for improving it."
How to Find Ratings and Information for Your 401(k) Plan
How to Find Ratings and Information for Your 401(k) Plan
January 30, 2009
Holy Transparency, Batman! If you like Zillow, and you have a 401(k) plan, have I got a website for you. BrightScope has now publicly launched its rating website, in which you plug in a particular company's name and the site then provides you with a colorful, graphic presentation of that particular plan's performance and structure in comparison to certain benchmarks and comparable companies. Its simply a lot of fun, and, moreover, allows an easy, quick overview of a particular plan, without having to wade through all of the paper information for a particular plan.
BrightScope and 401(k)s
BrightScope and 401(k)s
January 30, 2009
Sunday February 1, 2009 - One Word That Could Change 401k Plans Forever - BrightScope - If you are a plan sponsor or a participant of a 401k plan (and most workers are these days), you may have wondered why it was so hard to figure out if your company has a good plan or not. Well all that is about to change! Joining me on the program this weekend is Mike Alfred, Co-Founder and Co-CEO of La Jolla based BrightScope, which has launched a website that provides a clear, straight-forward objective rating system on 401k plans across the country (public launch, January 29).
One Word That Could Change 401k Plans Forever - BrightScope -
One Word That Could Change 401k Plans Forever - BrightScope -
January 29, 2009
USNews & World Report: Money & Business - Planning to Retire:
Have you ever wondered how your 401(k)'s company match, fees, and investment choices compare to those offered by other employers? Now there's a place where you can dish all the juicy financial details online. BrightScope Inc., an independent data analysis firm, launched the nation's first online 401k rating system today.
Rate Your 401(k)
Have you ever wondered how your 401(k)'s company match, fees, and investment choices compare to those offered by other employers? Now there's a place where you can dish all the juicy financial details online. BrightScope Inc., an independent data analysis firm, launched the nation's first online 401k rating system today.
Rate Your 401(k)
January 29, 2009
In the 401(k) industry, transparency means fee disclosure. And, of course, it's what Congress and the Department of Labor have been focusing on over the last few years. But it may be the private sector that puts transparency into a very practical setting. BrightScope, Inc., an independent data analytics firm today announced the launch of their 401k ratings disclosure website featuring the BrightScope Rating, the nation's first online 401(k) rating system.
First online 401(k) rating system launched by BrightScope, Inc.
First online 401(k) rating system launched by BrightScope, Inc.
January 29, 2009
BrightScope has created a pretty cool online 401(k) rating system called the 'BrightScope Rating Engine' that has been in beta for some time. BrightScope allowed me to review and test the system during the beta period and I've been impressed by what I've seen so far.
Announcing the BrightScope Rating Engine
Announcing the BrightScope Rating Engine
January 29, 2009
Back on the 14th, we posted an item about BrightScope, a remarkable new tool that will help 401(k) sponsors and participants understand the strengths and weaknesses of their plans in ways that simply weren't possible until...today. We're pleased to announce that BrightScope.com is now up and running. We encourage you to take a look.
Happy Birthday, BrightScope
Happy Birthday, BrightScope
January 26, 2009
Participants need to better understand what's going on with their employer-sponsored retirement plans. That's why Hutcheson has gotten behind the BrightScope startup. Listen in as he talks about what needs to change in the 401k marketplace.
The EBA Raw Bar with Matt Hutcheson, an independent fiduciary
The EBA Raw Bar with Matt Hutcheson, an independent fiduciary
January 13, 2009
What would a 401(k) plan look like if you could create the fantasy football version (fantasy 401(k)?) for your company? Well, thanks to the good folks at Brightscope...you don't have to wonder anymore.
The Perfect 401(k) Plan?
The Perfect 401(k) Plan?
January 6, 2009
Alfred has his sights set on making the world of 401(k) plan comparisons easy -- easy on the worker, the employer and even the broker. Listen in as he talks about how he's going to do it and why it needs to be done, now more than ever.
The EBA Raw Bar with Mike Alfred of BrightScope
The EBA Raw Bar with Mike Alfred of BrightScope
January 3, 2009
"Until now, an objective evaluation of 401(k) plans has been extremely difficult because of the complexity of these plans and the cleverly hidden costs which would take a pension actuary to uncover. By some accounts, the combination of poor investment options, high expenses and poor planning have caused many plan participants to have a zero return on their 401(k) investments. A recently launched web site, Brightscope, may change everything."
Shining a Bright Light on a Dark 401(k) Secret
Shining a Bright Light on a Dark 401(k) Secret
