ConAgra Foods 401k (SP) Plan PSDS Scan 12-31-2010

The ConAgra 401k Balanced portfolio's performance improved a little over last year and company stock CAG is 2.4% of the portfolio. Last year it was 0.0%. The SEC 11-k report does not include employee asset allocation data and a Uniform portfolio is provided for comparison purposes. The ConAgra 401k limits a participant's Target Date investment to one of the 12 Alliance Bernstein Target Date funds in the Plan. I think that is prudent given the highly correlated nature of these funds independent of the provider. Several 401k Plans have a similar rule. All things considered this is a good Plan that would be better if a few sector funds were among its equity options. Morningstar defines 8 sector categories from communications to utilities.

AGL Resources 401k (RSPP) PSDS Scan 12-31-2010

 

The AGL Resources 401k Plan was last scanned in 2008. The Balanced portfolio that year invested 93% of the Plan in the stable value fund and this year only 26.5%. Things are improving. Company stock AGL is still the largest holding of the employee portfolio at 35.2% of Plan but only 2.6% of the Balanced portfolio. Another big difference in the two portfolios is PTTRX, which has a 5yr APR over 8% and is 23.5% of the Balanced portfolio but less than 5% of the employee portfolio. Interesting. Employees near or in retirement may want to take another look at total return income funds. Morningstar and others have designed in-retirement portfolios that may be of interest.

Ameriprise Financial 401k Plan PSDS Scan 12-31-2010

The Ameriprise 401k Plan Balanced portfolio has a 5yr APR of 4.39% and a positive Sharpe ratio of 0.94; a little below average but not too bad. That portfolio's three largest holdings are the stable value fund SVF.hpx in the scan, a money market fund WMMXX and a bond fund RDBIX. The employee portfolio's largest holding is company stock AMP, which has a nice 5yr APR over 8% but with high volatility. The Balanced portfolio only invested 2.8% of the Plan in the stock. There is not much more to say.

Peoples Financial 401k (PS) Plan PSDS Scan 12-31-2010

The Peoples Financial 401k was not helped by company stock PFBX. It has a 5yr APR of 0.0% as once again volatility kills compounding. The other investment options in the 401k are good and the Balanced portfolio has a 5yr APR or 5.89% with a Sharpe ratio of 1.27. That portfolio's largest holding is the stable value fund SVF.hpx in the scan. It is also the largest employee portfolio holding.

Dover Corp. 401k (RSP) Plan PSDS Scan 12-31-2010

The Dover 401k plan Balanced portfolio is a little above average with a 5yr APR of 6.03% and a Sharpe ratio of 1.57. In the scan VBISX is a proxy for the RiverSource Trust income fund. On a 5yr annualized basis every 401k plan I have scanned, over 500, has a positive 5yr APR and so do most employee portfolios but not all. In most 401k s these two portfolios have similar APR's but with the employee portfolio having about twice as much volatility. That is usually because of company stock. The Dover employee portfolio fits that pattern as seen in the 2D scan chart.

Healthcare Services Group 401k (RSP) PSDS Scan 12-31-2010

The Healthcare Serices Group 401k plan is good, the stock HCSG has done well for years and it pays a nice dividend. The Balanced portfolio invested 6.1% of the portfolio in the stock and has an above average 5yr APR of 6.82% with a Sharpe ratio of 1.35. The only negative is the stock price which is high, way too high by Ben Graham standards today. The employee portfolio largest holding is the money market fund PNIXX and they have 6.8% of it invested in company stock about the same as the Balanced portfolio. Interesting.

Weatherford International 401k (SP) Plan PSDS Scan 12-31-2010

In the last three years the Weatherford 401k Balanced portfolio 5yr APR has risen from 4.43% to 5,.44% and this year to 6.08%. The improvement was not driven by company stock WFT although a little of the stock is in the portfolio. This is a pretty volatile stock. Also, the Plan investment options have changed little. All this is an indication of a good plan with several equity investment options having rising Sharpe ratios. At the same time the stable value fund, VRST in the scan,  has shrunk from 70% to 43% to 25% of Plan. Another positive 401k performance indicator.