Rate Your 401(k) Plan
See if your company's plan stacks up.
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). 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.
BrightScope has already reviewed more than 4,000 401(k) plans and hopes to rate up to 30,000 plans by the end of the year. If your employer is not one of them, you can get your retirement plan rated free, no matter how small your company is. Just follow the instructions on the site's "plan data vault" for submitting the necessary documents, which are available for all plan participants.
If you don't like what you see, you can engage in some electronic rabble-rousing. E-mail the results to your co-workers and your human-resources department and ask why you don't have a better plan. Chances are your boss will want to ask the same question of your plan provider to make sure your company is getting its money's worth in these tough times.
![https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png](https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-320-80.png)
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Kamala Harris Calls for 28% Capital Gains Tax, Diverging from Biden's Higher Rate
Capital Gains Capital gains tax rates are an important issue for some voters in the upcoming November election.
By Kelley R. Taylor Published
-
Stock Market Today: Stocks Extend Slide Amid Cooling Labor Market
Stocks continued their September slump after job openings hit a multiyear low.
By Dan Burrows Published
-
Medicare Basics: 11 Things You Need to Know
Medicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
By Catherine Siskos Last updated
-
Six of the Worst Assets to Inherit
inheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
By David Rodeck Last updated
-
403(b) Contribution Limits for 2024: Good News for Teachers
retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
By Jackie Stewart Last updated
-
SEP IRA Contribution Limits for 2024
SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $69,000 a year.
By Jackie Stewart Last updated
-
Roth IRA Contribution Limits for 2024
Roth IRAs Roth IRA contribution limits have gone up for 2024. Here's what you need to know.
By Jackie Stewart Last updated
-
SIMPLE IRA Contribution Limits for 2024
simple IRA The SIMPLE IRA contribution limit increased by $500 for 2024 and workers at small businesses can contribute up to $16,000 or $19,500 if 50 or over.
By Jackie Stewart Last updated
-
457 Contribution Limits for 2024
retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
By Jackie Stewart Published
-
Roth 401(k) Contribution Limits for 2024
retirement plans The Roth 401(k) contribution limit for 2024 is increasing, and workers who are 50 and older can save even more.
By Jackie Stewart Last updated