Who offers the best 401(k) plans?


Quick Answer

Some of the companies with the best 401(k) plans include ConocoPhillips, Phillip Morris International, Amgen and Boston Scientific, as of 2014. The companies were ranked in a Bloomberg Business study that relied on employee data from 2012.

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Full Answer

Houston-based oil and natural gas company ConocoPhillips ranked first in the study, largely due to its generous matching formula, which contributes a hefty portion of annual employee salaries even for those employees who save only a small portion of their pay. Tobacco giant Phillip Morris ranked second in the survey, due to its 5 percent match contribution coupled with an extra 15 percent compensation. All of the highest-ranked companies were those that chose to offer extra retirement bonuses to employees, even those who put aside very little for their 401(k).

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