Retirement plan

SPECTRUM EMPLOYEE BENEFITS, INC. 401(K) PLAN

Name: SPECTRUM EMPLOYEE BENEFITS, INC. - SPECTRUM EMPLOYEE BENEFITS, INC. 401(K) PLAN (2024) Form 5500
Creator: SPECTRUM EMPLOYEE BENEFITS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPECTRUM EMPLOYEE BENEFITS, INC. 401(K) PLAN, SPECTRUM EMPLOYEE BENEFITS, INC.

SPECTRUM EMPLOYEE BENEFITS, INC.EIN 20-1973276Plan #001PY 2024

720 5TH ST N - BRECKENRIDGE, MN 56520218-643-2679spectrumeb.comLinkedIn1-10 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.8M

No prior year

Total participants

No prior year

Average account balance

$149,707

No prior year

Annual return

15.45%

No prior year

Benchmarks

See 37,126 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,126 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Less than 3 years of history available for this plan

We'll show a chart here once at least 3 consecutive filings are on record.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$60K

$3544 / participant

Other / not subdivided$60K100.0%

% of EOY assets

2.118%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$149,707

$201,344-25.6%

$184,243-18.7%

$145,877+2.6%

Participation rate

100.0%

87.5%+12.5pp

86.8%+13.2pp

80.3%+19.7pp

Annual return

15.45%

29.01%-13.6pp

28.82%-13.4pp

551.28%-535.8pp

Employer contribution / active EE

$3,265

$7,022-53.5%

$6,427-49.2%

$4,663-30.0%

Participant deferral / active EE

$6,742

$9,807-31.2%

$9,132-26.2%

$6,691+0.8%

Admin fee / account holder

$3,171

$16,382-80.6%

$13,914-77.2%

$13,402-76.3%

SPECTRUM EMPLOYEE BENEFITS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPECTRUM EMPLOYEE BENEFITS, INC. 401(K) 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