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 (2023) 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 2023

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

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$340M

+16.9% from 2022

Total participants

854

-3.1% from 2022

Average account balance

$400,908

+20.6% from 2022

Annual return

16.84%

+32.45 pp from 2022

Benchmarks

See 4,042 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,042 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$371.92M

Not enough data

1 years with asset history on file

Average account balance

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

$525K

Not enough data

1 years with per-participant data

Participants with account balance

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

708

Not enough data

1 years with headcount on file

Eligible Participants and Participation

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

96.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$15.06M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$47K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$779

Not enough data

1 years with admin cost on file

Asset composition

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

Not enough data

1 years with F_SCH_H allocation on file

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 10 of 15 by compensation

Provider	Service type	Compensation
R M DAVIS INC9+ years Service code 26 · EIN 01-0356657	Advisory (Participants)	$95,978
CHARLES SCHWAB & CO., INC.7 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$79,019
CAPFINANCIAL PARTNERS LLC9+ years Service code 26 · EIN 26-0058143	Advisory (Participants)	$75,178
HIGHTOWER ADVISORS LLC9+ years Service code 26 · EIN 36-4500709	Advisory (Participants)	$68,922
H. M. PAYSON & CO.6 years Service code 26 · EIN 01-0420707	Advisory (Participants)	$56,361
VIGILANT SERVICES, INC.5 years Filed as: VIGILANT CAPITAL MGMT LLC Service code 26 · EIN 35-2161120	Advisory (Participants)	$30,469
ENVESTNET RETIREMENT SOLUTIONS, LLC2 years Filed as: ENVESTNET ASSET MANAGEMENT INC Service code 26 · EIN 36-4319587	Advisory (Participants)	$21,499
WAYPOINT CAPITAL ADVISORS LLC6 years Service code 26 · EIN 20-2335284	Advisory (Participants)	$21,378
DOUGLASS WINTHROP ADVISORS LLC6 years Service code 26 · EIN 13-4085380	Advisory (Participants)	$16,306
VALMARK ADVISERS INC5 years Service code 26 · EIN 31-1509466	Advisory (Participants)	$15,460

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

2 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$521K

$1071 / participant

Recordkeeping$71K13.6%
Investment mgmt$450K86.4%

% of EOY assets

0.153%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BERRY DUNN MCNEIL & PARKER, LLC
Auditor EIN: 010523282
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$400,908

$47,126+750.7%

$149,673+167.9%

$74,419+438.7%

Participation rate

98.8%

63.4%+35.4pp

78.8%+20.0pp

70.7%+28.0pp

Annual return

16.84%

22.75%-5.9pp

134.42%-117.6pp

34.38%-17.5pp

Employer contribution / active EE

$19,178

$1,905+906.5%

$4,818+298.1%

$2,637+627.2%

Participant deferral / active EE

$13,955

$2,728+411.6%

$5,680+145.7%

$4,528+208.2%

Admin fee / account holder

$614

$343+79.1%

$13,210-95.4%

$348+76.5%

Provider

Service type

Compensation

R M DAVIS INC9+ years

Service code 26 · EIN 01-0356657

Advisory (Participants)

$95,978

CHARLES SCHWAB & CO., INC.7 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$79,019

CAPFINANCIAL PARTNERS LLC9+ years

Service code 26 · EIN 26-0058143

Advisory (Participants)

$75,178

HIGHTOWER ADVISORS LLC9+ years

Service code 26 · EIN 36-4500709

Advisory (Participants)

$68,922

H. M. PAYSON & CO.6 years

Service code 26 · EIN 01-0420707

Advisory (Participants)

$56,361

VIGILANT SERVICES, INC.5 years

Filed as: VIGILANT CAPITAL MGMT LLC

Service code 26 · EIN 35-2161120

Advisory (Participants)

$30,469

ENVESTNET RETIREMENT SOLUTIONS, LLC2 years

Filed as: ENVESTNET ASSET MANAGEMENT INC

Service code 26 · EIN 36-4319587

Advisory (Participants)

$21,499

WAYPOINT CAPITAL ADVISORS LLC6 years

Service code 26 · EIN 20-2335284

Advisory (Participants)

$21,378

DOUGLASS WINTHROP ADVISORS LLC6 years

Service code 26 · EIN 13-4085380

Advisory (Participants)

$16,306

VALMARK ADVISERS INC5 years

Service code 26 · EIN 31-1509466

Advisory (Participants)

$15,460

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