SmartAsset: Woonsocket best for 401(k) plans

WOONSOCKET is the highest-ranked community for 401(k) benefits plan performance based on such things as employer contributions, according to SmartAsset. / COURTESY SMARTASSET
WOONSOCKET is the highest-ranked community for 401(k) benefits plan performance based on such things as employer contributions, according to SmartAsset. / COURTESY SMARTASSET

WOONSOCKET – Woonsocket is the place to be for the best 401(k) benefit plans, according to a study by SmartAsset, a financial technology company.
SmartAsset said that Woonsocket stood out for an average employer contribution of 35.5 percent, investment performance of 31.3 percent and administrative fees of 0.6 percent.
East Providence was next on the list for average employer contribution of 64.7 percent, investment performance of 5.2 percent and administrative fees of 0.1 percent.
Providence was third for average employer contribution of 34.8 percent, investment performance of 8.8 percent and administrative fees of 0.1 percent.
Rounding out the top 10 were Pawtucket, the Greenville section of Smithfield, Central Falls, Warwick, Newport, Cranston and Westerly.
SmartAsset said it calculated a weighted average of the indices for employer contributions, investment performance and administrative fees to yield an overall score, with higher values reflecting the best 401(k) benefit plans.

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