Retirement plan

SPECTRUM HEALTHCARE PARTNERS, P.A. 401(K) PROFIT SHARING PLAN

Name: SPECTRUM HEALTHCARE PARTNERS, P.A. - SPECTRUM HEALTHCARE PARTNERS, P.A. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: SPECTRUM HEALTHCARE PARTNERS, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPECTRUM HEALTHCARE PARTNERS, P.A. 401(K) PROFIT SHARING PLAN, SPECTRUM HEALTHCARE PARTNERS, P.A.

SPECTRUM HEALTHCARE PARTNERS, P.A.EIN 01-0510040Plan #002PY 2020

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)

$340.6M

-7.3% from 2016

Total participants

936

-16.5% from 2016

Average account balance

$368,984

+11.2% from 2016

Annual return

14.74%

-9.86 pp from 2016

Benchmarks

See 3,871 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,871 peers

Snapshot2020

Participant deferral / active EE

$9,995

median $1,779

Employer contribution / active EE

$13,742

median $893

Participation rate

98.1%

median 72.8%

Avg account balance

$368,984

median $31,215

Admin fee / account holder

$493

median $89

Annual return

14.74%

median 14.80%

Overall peer rank

70of 100

70th 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 14 by compensation

Provider	Service type	Compensation
R M DAVIS INC6+ years Service code 26 · EIN 01-0356657	Advisory (Participants)	$89,187
CHARLES SCHWAB & CO., INC.4 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$76,294
CAPFINANCIAL PARTNERS LLC6+ years Service code 26 · EIN 26-0058143	Advisory (Participants)	$71,038
VIGILANT SERVICES, INC.2 years Filed as: VIGILANT CAPITAL MGMT LLC Service code 26 · EIN 35-2161120	Advisory (Participants)	$59,220
HIGHTOWER ADVISORS LLC6+ years Service code 26 · EIN 36-4500709	Advisory (Participants)	$34,701
HARBORVIEW ADVISORS LLC3 years Service code 26 · EIN 47-1967585	Advisory (Participants)	$28,339
H. M. PAYSON & CO.3 years Service code 26 · EIN 01-0420707	Advisory (Participants)	$28,245
WAYPOINT CAPITAL ADVISORS LLC3 years Service code 26 · EIN 20-2335284	Advisory (Participants)	$17,847
HEADINVEST LLC1 year Service code 26 · EIN 20-4445689	Advisory (Participants)	$13,781
VALMARK ADVISERS INC2 years Service code 26 · EIN 31-1509466	Advisory (Participants)	$12,532

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D3H

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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
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

$455K

$682 / participant

Investment mgmt$377K82.9%
Other / not subdivided$78K17.1%

% of EOY assets

0.134%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$368,984

$52,303+605.5%

$178,510+106.7%

$73,415+402.6%

Participation rate

98.1%

65.3%+32.7pp

81.9%+16.1pp

72.2%+25.9pp

Annual return

14.74%

34.76%-20.0pp

151.13%-136.4pp

59.30%-44.6pp

Employer contribution / active EE

$13,742

$1,737+691.4%

$5,011+174.2%

$2,234+515.2%

Participant deferral / active EE

$9,995

$2,334+328.3%

$5,202+92.1%

$3,806+162.6%

Admin fee / account holder

$493

$127+287.4%

$13,988-96.5%

$158+212.5%

Provider

Service type

Compensation

R M DAVIS INC6+ years

Service code 26 · EIN 01-0356657

Advisory (Participants)

$89,187

CHARLES SCHWAB & CO., INC.4 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$76,294

CAPFINANCIAL PARTNERS LLC6+ years

Service code 26 · EIN 26-0058143

Advisory (Participants)

$71,038

VIGILANT SERVICES, INC.2 years

Filed as: VIGILANT CAPITAL MGMT LLC

Service code 26 · EIN 35-2161120

Advisory (Participants)

$59,220

HIGHTOWER ADVISORS LLC6+ years

Service code 26 · EIN 36-4500709

Advisory (Participants)

$34,701

HARBORVIEW ADVISORS LLC3 years

Service code 26 · EIN 47-1967585

Advisory (Participants)

$28,339

H. M. PAYSON & CO.3 years

Service code 26 · EIN 01-0420707

Advisory (Participants)

$28,245

WAYPOINT CAPITAL ADVISORS LLC3 years

Service code 26 · EIN 20-2335284

Advisory (Participants)

$17,847

HEADINVEST LLC1 year

Service code 26 · EIN 20-4445689

Advisory (Participants)

$13,781

VALMARK ADVISERS INC2 years

Service code 26 · EIN 31-1509466

Advisory (Participants)

$12,532

SPECTRUM HEALTHCARE PARTNERS, P.A. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPECTRUM HEALTHCARE PARTNERS, 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