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Individual Retirement Accounts | GROUPIRA®

As Spectrum provides services exclusively to employers and institutional investors, ​Individual Retirement Account (IRA) services are provided to clients through GROUPIRA, INC. ( GROUPIRA® leverages the collective buying power of many investors to help reduce investment costs. In addition to providing Traditional IRA and Roth IRA options, GROUPIRA® also supports both voluntary direct rollovers and automatic rollovers from workplace retirement plans.

If you are interested in learning more about these services, please contact us at +1 (800) 634-3411 for a complementary consultation.

Voluntary Direct Rollovers

When eligible for distribution from a tax-qualified workplace retirement, participants may select a Direct IRA Rollover into GROUPIRA®. Depending on their unique needs and circumstances, participants may opt for an individually managed IRA or a professionally managed IRA. Under the individually managed option, participants choose among a menu of investments, while the professionally managed option enables investors to hire an investment adviser to help manage their account.

Automatic Rollovers

Since employers provide workplace retirement plans for the benefit of current employees, we know it can be frustrating when former employees choose not to move their accounts. Automatic rollovers solve this problem. Generally, when a participant's balance is less than $5,000, a workplace retirement plan can automatically transfer a participant's balance into a rollover IRA. Spectrum's technology interfaces directly with GROUPIRA® to facilitate an easy transfer. Participant balances are placed in a capital preservation fund, consistent with liquidity needs. The former plan participant may access the IRA at any time, simply by contacting Spectrum.

Payroll Deduction IRA

Through a payroll deduction IRA, employers can offer a valuable retirement benefit to their workforce, without the complexity and compliance requirements of a 401k or other tax-qualified workplace retirement plan. Employers simply deduct contribution amounts through payroll and remit the funds to GROUPIRA®. These routine payroll contributions are invested among a menu of mutual funds and dollar-cost averagedover time.