Our experience consulting with small businesses and professional practices suggests a need for an inexpensive no-frills option to address the rising cost of qualified retirement plan compliance. Spectrum has developed a unique retirement plan solution specifically designed for employers with 24 and fewer employees. This solution leverages state of the art technology and interfaces with leading financial institutions to simplify the management of small employer retirement plans. The result is an affordable option designed to meet the needs of small businesses and professional practices.
Features
- 12,000+ mutual fund investment options available
- 24/7 access to a participant website for reviewing and managing account information
- Ability to work with your current financial professional
- Transfer balances among the plan's investment options commission free*
- No proprietary mutual fund or investment requirements
- Paperless participant loan requisitions
- Paperless participant distributions
- Simple and predictable fee schedule
Included Services
- Execution and settlement of plan investments through financial institutions
- Periodic business review meetings
- Preparation of required government reporting and participant notices
- Preparation of meaningful retirement benefit statements
- Preparation of all required plan amendments and document restatements
- Preparation of management reports summarizing the plan and its activity
- Routine compliance monitoring and reporting
Optional Plan Services
- Investment monitoring and performance reporting
- Investment portfolio construction
- Regulatory authority representation or compliance resolution
Employer Responsibilities
- Complete an annual online compliance questionnaire
- Confirm the amounts of any employer contributions
- Provide payroll data each pay period
- Electronically authorize plan disbursements
- Review and execute applicable government filings and plan documentation
More Information
Please contact Petros P. Koumantaros to schedule a complimentary consultation.
* Certain investments may impose trade restrictions and assess short-term redemption fees. Short-term redemption fees are set by investment management companies and are not controlled by Spectrum. Such fees, if any, are disclosed within the investment's prospectus. Always review the prospectus before investing.
