10 Companies With the Best 401(k) Plans

Photo by Tashatuvango / Shutterstock.com

What do employees of Delta Air Lines, the NFL and the Saudi Arabian Oil Co. have in common?

They have access to the best 401(k) plans around, according to BrightScope.

The financial data site’s eighth annual list of the 30 best 401(k) plans, released this week, gives the highest scores to plans offered by those three employers.

For the list, BrightScope considers 401(k) plans with more than $1 billion in assets.

The companies offering the 10 best plans are:

  1. Delta Air Lines
  2. National Football League (NFL)
  3. Saudi Arabian Oil Co. (Saudi Aramco)
  4. Southwest Airlines
  5. ConocoPhillips
  6. Amgen
  7. Bayer
  8. Chevron
  9. Takeda Pharmaceuticals U.S.A.
  10. United Parcel Service of America (UPS)

Brooks Herman, head of data and research at BrightScope, notes that the latest list continues a trend:

“We have witnessed average plan ratings improve each year in the Top 30 List — and this year is no different. This demonstrates that America’s employees and employers recognize how critical a high quality 401k plan is to maintaining an acceptable standard of living in retirement.”

If you have a 401(k) or similar plan but it didn’t make BrightScope’s list, you can still consider yourself fortunate. Not every worker has access to a 401(k)-style plan.

If you’re unsure whether your employer offers one, you should ask.

If you do have access to a workplace retirement account, the first step is simply to take advantage of it.

As we reported earlier this week in “How Two-Thirds of Americans Are Risking Their Retirement,” most workers with access aren’t saving a dime in a workplace retirement account.

The second step is to look into your plan’s fees and what you can do to lower them.

As we explain in “Of All the Fees You Pay, This One Is the Worst,” fees attached to retirement accounts could rob your nest egg of hundreds of thousands of dollars:

Retirement plans are required to disclose how much they charge in fees. (The rules may be different for an IRA.) Even so, many employees believe (mistakenly) that they don’t pay any expenses or fees for their plan.

As that story explains, fees expressed as a percentage of your account balance can look small — but in reality, a 1 percent difference in fees can rob you of hundreds of thousands of dollars in retirement savings over the course of a lifetime.

For more retirement savings tips, regardless of whether you have a 401(k), check out:

How would you rate your employer’s retirement plan offerings? Sound off below or on Facebook.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?
Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?

You could save more than $30,000 by setting aside these costly expenses for just one year.

The 13 Worst Types of Tickets for Your Car Insurance Rate
The 13 Worst Types of Tickets for Your Car Insurance Rate

Some types of traffic violations can drive your car insurance rate dramatically higher.

7 Mistakes Guaranteed to Ruin Your Retirement
7 Mistakes Guaranteed to Ruin Your Retirement

Make even one of these money mistakes, and you’ll probably end up eating ramen noodles in your golden years.

These Are the 3 Best Used Cars You Can Buy
These Are the 3 Best Used Cars You Can Buy

These vehicles boast reliability, safety and long-lasting value.

26 Things Everyone Should Keep in Their Car
26 Things Everyone Should Keep in Their Car

These tools and conveniences help protect drivers from hassles and calamities on the road.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
7 Kirkland Signature Items to Avoid at Costco
7 Kirkland Signature Items to Avoid at Costco

Even if it seems you save a bundle buying Costco’s Kirkland Signature brand products, they may not be the bargain they appear to be.

If You Find This Thrift Shopping, Buy It
If You Find This Thrift Shopping, Buy It

Whether you resell it for a big profit or add it to your own wardrobe, this type of clothing is a hidden steal.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

10 Cars You Are Most Likely to Keep for 15 Years
10 Cars You Are Most Likely to Keep for 15 Years

The cars that owners hold onto the longest have one thing in common, a new study shows.

11 Laws You Could Be Breaking Without Knowing It
11 Laws You Could Be Breaking Without Knowing It

Seriously? Fibbing about the weather is a crime? This and other little-known legal traps await the unwary.

Is This Treatable Condition Causing Your High Blood Pressure?
Is This Treatable Condition Causing Your High Blood Pressure?

Researchers say too many doctors are overlooking this potential source of hypertension.

Does Wearing 2 Masks Protect You Better From COVID-19?
Does Wearing 2 Masks Protect You Better From COVID-19?

A growing number of people are wearing two masks instead of just one. Should you join them?

13 Things Seniors Can Get for Free — or Almost Free
13 Things Seniors Can Get for Free — or Almost Free

There are many ways to get cheap or free services and goods after reaching a certain age.

Taking a Multivitamin? Here’s Why You Should Reconsider
Taking a Multivitamin? Here’s Why You Should Reconsider

A new study has bad news for the millions of Americans who spend money on multivitamins.

7 Social Security Benefits You May Be Overlooking
7 Social Security Benefits You May Be Overlooking

There’s more to Social Security than retirement benefits.

21 Items to Cut From Your Budget That You Won’t Even Miss
21 Items to Cut From Your Budget That You Won’t Even Miss

Start off the new year by implementing these small-but-smart savings strategies. They’ll soon add up.

Internet Providers Can’t Charge You for This Anymore
Internet Providers Can’t Charge You for This Anymore

Starting this month, your ISP no longer can bill you for this fee.

9 Things You Should Never Leave in a Car
9 Things You Should Never Leave in a Car

Thinking of leaving these possessions in a car? Prepare for unexpected consequences.

Organize Your Home With These 10 Thrift Store Finds
Organize Your Home With These 10 Thrift Store Finds

Resolve to be clutter-free in 2021 with these secondhand purchases.

Prepare to Pay More for These 31 Drugs in 2021
Prepare to Pay More for These 31 Drugs in 2021

More than 700 prescription medications have seen price hikes so far this year. Here’s a look at the worst.

15 Painless Ways You Can Cut Costs in 2021
15 Painless Ways You Can Cut Costs in 2021

Follow these tips to save, so you’ll have money for things that really matter.

5 States Lowering Taxes This Year and 2 Raising Them
5 States Lowering Taxes This Year and 2 Raising Them

State personal income tax rates, brackets and deductions just changed in these places.

7 Tricks to Cleaning Your Bathroom Faster
7 Tricks to Cleaning Your Bathroom Faster

These tips can get your bathroom sparkling with little time and no elbow grease.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.