BrightScope Ranks Allianz Life 401k Plan in Top 15% of Peer Group

Allianz Plan also ranks in top 15% for Company Generosity, Salary Deferrals, Total Plan Cost, and Account Balances

MINNEAPOLIS--(BUSINESS WIRE)-- BrightScope^TM, Inc., an independent provider of 401k ratings and financial intelligence to plan sponsors, advisors, and participants in all 50 states, recently announced that the Allianz Life Insurance Company of North America 401k plan – the Allianz Asset Accumulation Plan (AAAP) – scored 78 out of a possible 100, ranking it within the top 15 percent of its peer group. The plan also ranks within the top 15 percent overall for four of the six rated components including Company Generosity, Salary Deferrals, Total Plan Cost and Account Balances. The Allianz Asset Accumulation Plan currently has more than 6,900 active participants and more than $1.1B in plan assets.

“We’ve worked extremely hard over the past few years to make our 401k plan not only competitive, but among the best in the industry,” said Allianz Life Chief Human Resources Officer Kirk Williams. “This rating from BrightScope confirms that we’re on the right track with our offerings and, more importantly, gives our employees validation that we’re providing them with the best options for their retirement savings.”

To rank company 401k plans, BrightScope developed a quantitative model that looks at many factors including the plan’s investment choices and fees, its structuring, and its generosity to employees. In addition to giving an overall score, the BrightScope analysis also rates six essential components of a retirement plan. To develop its ratings, BrightScope obtains some of its data from public sources such as the Department of Labor, the Securities and Exchange Commission, the U.S. Census Bureau, the Equal Employment Opportunity Commission, and the Bureau of Labor Statistics.

About Allianz Life

Founded in 1896, Allianz Life provides an array of annuities and life insurance products in the U.S. through a nationwide network of independent distribution. The company is part of Allianz SE, a global financial services organization that is the 20th largest company in the world based on revenue (Fortune Global 500, August 2009), employing nearly 155,000 people worldwide.

Allianz Life Insurance Company of North America
Media Contact:
Laurie Bauer, 763-765-6174
[email protected]

Source: Allianz Life Insurance Company of North America