BrightScope

[Guest caseyb]

My company was listed in BrightScope (www.brightscope.com), a new company that ranks mid-to-large 401(k) plans based on plan costs, investment fund quality, employee generosity etc. My company ranked poorly, and in my opinion and that of our investment advisor, unfairly. I was able to submit updated data to them (data was as of the 2006 5500) and we improved, but I still disagree with several of their scores.

You may want to check out their site to see if your plan is mentioned. You may be surprised with the results.

Wondering if anyone has worked with them. Their business model is fee-for-service, advising plan sponsors on what they can do to improve their plan. Most of the data they use is public but they also use some proprietary data and in-house analysis to arrive at their scores.

[Fredman]

I've had several really good conversations with them and submitted plan to be scored. I'm not completely on board with some of the scoring methods or how it is presented on the website, but I feel that they are absolutely, without question committed to the process. I think they will be a key player in bringing full disclosure to the fore front.

As for their business model, my opinion is that it is something to help keep the lights on. I don't get the sense that they are in this to get rich.

I also enjoy reading their blog (great read on the Deliotte fee study was just posted a few days ago). I would recomend anyone in our industry to add it to their reading list. http://www.brightscope.com/blog/