Nevada is the worst state in which to have a 401(k) plan, while Florida, Louisana and Kentucky, among a few more, aren't faring much better, according to data from Judy Diamond Associates.
The retirement plan data publisher, a division of BenefitPro's parent company, Summit Professional Networks, found that nine states in all have a majority of their participants in low-performing plans.
Judy Diamond mines data from Form 5500 filings with the Department of Labor, and then calculates plan scores with an algorithm that measures the strength of a plan's design, management and the performance of its assets.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
