Want More Money In Your 401k plan?...You Might Want To Work For An Oil Company
Have you ever wondered how much your neighbor has in their 401k plan? If your neighbor works for an oil company it's probably a sizeable account. Here's an interesting 401k study from Business Week:
Best Three Plans by Account Values
ExxonMobil: $490,000
Saudi Arabian Oil: $450,000
Chevron: $370,000
The three richest plans, by average participant balance, are all oil companies. Saudi Arabian Oil, however, has just 2,900 total participants. ExxonMobil has 44,000, and Chevron has 36,000.
Data: BrightScope