Three Illinois companies landed near the top of a ranking of 401(k) retirement plans by Bloomberg News.
Caterpillar Inc., Abbott Laboratores Inc. and McDonald’s Corp. were ranked among the top 10 by Bloomberg News, which based the ranking on 2012 data, the latest available for all of the companies examined.
The rankings considered the company’s matching contribution, the types of investment options available, the vesting period and whether company contributions were made along with payroll or annually.
The rankings allow employees, for the first time, to see how their own 401(k) compares to others on such criteria as company match, investment options, and time to vest. … One finding rings out clearly: when generously conceived, a 401(k) plan can put workers on the track for a comfortable and secure retirement.
Boeing Co., Illinois Tool Works, Kraft Foods Group and Mondelez International showed up in the top 50.
Facebook was at the bottom of the ranking. The social media company didn’t begin making a matching contribution until April of this year.
#Abbott scores in Top 10 of @BloombergNews ranking of 401k plans for largest 250 U.S. companies: http://t.co/n4lSmbLqgq
— Abbott (@AbbottNews) July 22, 2014
See the full ranking.
