The Mitre Corp.’s tax-sheltered annuity plan has received the highest rating of 403(b) plans nationally, according to a ranking by BrightScope.
The BrightScope survey results, released Tuesday, tracked 403(b) plans with assets of $100 million or more. The ranking is based on 2009 data in six categories: total plan cost, participation rate, deferrals investment quality and design, average participant account balance and company generosity. BrightScope says ‘generosity’ includes corporate match, vesting schedules and eligibility periods.
Mitre Corp., Bedford, Mass., whose plan had $1.93 billion in assets, scored 86 points. It was followed by the plan of Noblis Inc., Falls Church, Va., with $159 million in assets, which scored 85 points; and the Washington-based Urban Institute’s plan, with $134 million in assets, at 84 points. Four plans were tied for fourth place with 82 points. All asset sizes are from 2009.
Among the top 403(b) plans, the scores ranged from 86 to 78.