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​Standard Hourly Rates

Like many professional firms, Spectrum's fees are based on the amount of time and effort requried to provide a particular service, as well as the experience, expertise, and professional qualifications of each staff member delivering various aspects of the service.

Some of Spectrum's fees for routine services or for certain consulting assignments are priced as a fixed budget or are based on unit charges (ex. number of employees, number of participants, amount of assets, etc.).

Standard hourly rates are based on the experience, expertise, and qualifications of the individual delivering the services. Some Spectrum staff members are licensed to practice and represent clients before the U.S. Treasury Department and U.S. Department of Labor. Spectrum’s hourly rates range as follows:

​Staff Member Category​Hourly Rate Range
​Associate Consultants​$120 to $190
​Consultants​$190 to $250
​Managing Consultants​$250 to $310
​Directors​$280 to $340
​Managing Directors​$310 to $360


Contract termination rates

Clients or Plans may terminate contracts with service providers or terminate the retirement plan itself. As these services are out of scope and requested by Clients and Plans, fees are generally allocated to the requesting party, unless separately agreed with Clients. Termination rates vary according to Spectrum's contracted plan management engagement level with each Client.

​Plan Management Services Engagement Level​
​Transaction Type​Contract Administration​Recordkeeping​Contract Administration and Recordkeeping
​Termination Fee Small Plan (DOL Definition) Minimum
​$1,000
​$1,000 + Custodian Termination Fee (if applicable)
​$1,000 + Custodian Termination Fee (if applicable)
Termination Fee Large Plan (DOL Definition) Minimum
​$2,000
$2,000 + Custodian Termination Fee (if applicable)
$2,000 + Custodian Termination Fee (if applicable)
 

 
​DOCUMENT RATES

 

Clients or Plans may request Document Support from Spectrum. As these services are out of scope and requested by Clients and Plans, fees are generally allocated to the requesting party, unless separately agreed with Clients. Document Support rates vary according to Spectrum's contracted plan management engagement level with each Client.

​Plan Management Services Engagement Level​
​Transaction Type​Contract Administration​Recordkeeping​Contract Administration and Recordkeeping
​Document Restatement Minimum
​$1,250
​$1,250​$1,250
​Document Amendment Minimum​$500
​$500​$500
Document Notice Minimum
$150
​$150
​$150
Document Installation Minimum (DC Plan)
​$1,500
​$1,500
​$1,500
Document Installation Minimum (DB Plan)
​$2,000
$2,000
​$2,000


 

Audit Support rates

Clients or Plans may request Audit Support from Spectrum to collaborate with service providers for DOL, IRS, IQPA, PBGC, or other audits. As these services are out of scope and requested by Clients and Plans, fees are generally allocated to the requesting party, unless separately agreed with Clients. Audit Support rates vary according to Spectrum's contracted plan management engagement level with each Client.

​Plan Management Services Engagement Level​
​Transaction Type​Contract Administration​Recordkeeping​Contract Administration and Recordkeeping
​Government Audit Minimum
​$1,000
​$1,000 + Government Fee (if applicable)
​$1,000 + Government Fee (if applicable)
IQPA Audit Fee Large Plan Minimum
​$2,000
$2,500
$2,500



​Participant Account Transaction Rates

Plans may make available to participants a broad range of features and additional services. As these services are requested by participants, fees are generally allocated to the requesting participant's account, unless separately agreed with Clients. Participant account transaction rates vary according to Spectrum's contracted plan management engagement level with each Client.

​Plan Management Services Engagement Level​
​Transaction Type​Contract Administration​Recordkeeping​Contract Administration and Recordkeeping
​Financial Hardship Withdrawal​$120​$120​$120
​In-Service Distribution​$100​$100​$100
​Participant Loan Maintenance, per loan, per quarter$0​$15​$15
​Participant Loan Origination​$90​$90​$90
​Domestic Relations Order Processing​$750$​750​$750
​Termination Distribution
​$150
​$150 or $110 if electronically submitted
​​$150 or $110 if electronically submitted