Retirement plan

SPECTRUM MEDICAL GROUP, P.A. 401(K) PROFIT SHARING PLAN

Name: SPECTRUM MEDICAL GROUP, P.A. - SPECTRUM MEDICAL GROUP, P.A. 401(K) PROFIT SHARING PLAN (2017) Form 5500
Creator: SPECTRUM MEDICAL GROUP, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPECTRUM MEDICAL GROUP, P.A. 401(K) PROFIT SHARING PLAN, SPECTRUM MEDICAL GROUP, P.A.

SPECTRUM MEDICAL GROUP, P.A.EIN 01-0510040Plan #002PY 2017

324 GANNETT DRIVE, SUITE 200 - SOUTH PORTLAND, ME 04106207-482-7800spectrumhcp.comLinkedIn501-1000 employeeshospital & health care

Prospect flagsHigh feesHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$260.2M

-7.3% from 2016

Total participants

815

-16.5% from 2016

Average account balance

$326,939

+11.2% from 2016

Annual return

17.28%

-9.86 pp from 2016

Benchmarks

See 3,812 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,812 peers

Snapshot2017

Participant deferral / active EE

$9,021

median $1,407

Employer contribution / active EE

$12,747

median $765

Participation rate

97.2%

median 69.6%

Avg account balance

$326,939

median $26,526

Admin fee / account holder

$354

median $56

Annual return

17.28%

median 15.98%

Overall peer rank

72of 100

72nd percentileavg across 6 metrics

Analytics

2015 - 2024

Total assets (EOY)

Plan-year ending balance

$359.69M

Average account balance

Total assets / participants with a balance (line 6g)

$426K

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

844

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

97.5%

Contributions (total)

Employer and participant dollars contributed each year

$16.60M

Contributions per participant

Average employer and participant contribution per enrolled participant

$34K

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+12.99%

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$703

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Mutual / pooled
Stocks
Bonds
Cash
Real estate
Loans

Service providers

Top 10 of 11 by compensation

Provider	Service type	Compensation
R M DAVIS INC3+ years Service code 26 · EIN 01-0356657	Advisory (Participants)	$90,761
CAPFINANCIAL PARTNERS LLC3+ years Service code 26 · EIN 26-0058143	Advisory (Participants)	$70,144
CHARLES SCHWAB & CO., INC.1 year Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$50,539
HIGHTOWER ADVISORS LLC3+ years Service code 26 · EIN 36-4500709	Advisory (Participants)	$24,311
PORTLAND GLOBAL ADVISORS3+ years Filed as: PORTLAND GLOBAL ADVISORS LLC Service code 26 · EIN 04-3356781	Advisory (Participants)	$15,939
CHARLES SCHWAB & CO., INC.3+ years Service code 33 · EIN 94-1737782	Securities brokerage commissions and ...	$13,943
JOSLIN CAPITAL ADVISORS, LLC1 year Filed as: JOSLIN CAPITAL ADVISORS LLC Service code 26 · EIN 82-1946426	Advisory (Participants)	$8,655
LPL FINANCIAL3+ years Filed as: KMS FINANCIAL SERVICES INC Service code 26 · EIN 91-0850651	Advisory (Participants)	$8,107
DOUGLASS WINTHROP ADVISORS LLC2 years Filed as: DOUGLASS WINTHROP ADVISORS Service code 26 · EIN 13-4085380	Advisory (Participants)	$6,574
GREAT-WEST LIFE & ANNUITY INSURANCE3+ years Filed as: FL PUTNAM INVESTMENT MANAGEMENT Service code 26 · EIN 01-0403396	Advisory (Participants)	$6,418

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$281K

$415 / participant

Investment mgmt$231K82.0%
Other / not subdivided$51K18.0%

% of EOY assets

0.108%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BERRY DUNN
Auditor EIN: 010523282
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$326,939

$46,182+607.9%

$170,435+91.8%

$69,634+369.5%

Participation rate

97.2%

63.9%+33.3pp

83.6%+13.6pp

70.7%+26.5pp

Annual return

17.28%

21.40%-4.1pp

205.94%-188.7pp

27572.26%-27555.0pp

Employer contribution / active EE

$12,747

$1,610+691.7%

$5,432+134.7%

$2,032+527.2%

Participant deferral / active EE

$9,021

$2,081+333.6%

$4,939+82.6%

$3,224+179.8%

Admin fee / account holder

$354

$116+204.8%

$13,881-97.5%

$110+220.2%

Provider

Service type

Compensation

R M DAVIS INC3+ years

Service code 26 · EIN 01-0356657

Advisory (Participants)

$90,761

CAPFINANCIAL PARTNERS LLC3+ years

Service code 26 · EIN 26-0058143

Advisory (Participants)

$70,144

CHARLES SCHWAB & CO., INC.1 year

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$50,539

HIGHTOWER ADVISORS LLC3+ years

Service code 26 · EIN 36-4500709

Advisory (Participants)

$24,311

PORTLAND GLOBAL ADVISORS3+ years

Filed as: PORTLAND GLOBAL ADVISORS LLC

Service code 26 · EIN 04-3356781

Advisory (Participants)

$15,939

CHARLES SCHWAB & CO., INC.3+ years

Service code 33 · EIN 94-1737782

Securities brokerage commissions and ...

$13,943

JOSLIN CAPITAL ADVISORS, LLC1 year

Filed as: JOSLIN CAPITAL ADVISORS LLC

Service code 26 · EIN 82-1946426

Advisory (Participants)

$8,655

LPL FINANCIAL3+ years

Filed as: KMS FINANCIAL SERVICES INC

Service code 26 · EIN 91-0850651

Advisory (Participants)

$8,107

DOUGLASS WINTHROP ADVISORS LLC2 years

Filed as: DOUGLASS WINTHROP ADVISORS

Service code 26 · EIN 13-4085380

Advisory (Participants)

$6,574

GREAT-WEST LIFE & ANNUITY INSURANCE3+ years

Filed as: FL PUTNAM INVESTMENT MANAGEMENT

Service code 26 · EIN 01-0403396

Advisory (Participants)

$6,418

SPECTRUM MEDICAL GROUP, P.A. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPECTRUM MEDICAL GROUP, P.A. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion