Spectrum Healthcare Partners

Plan name Spectrum Healthcare Partners, P.A. 401(k) Profit Sharing Plan
Location South Portland, Maine
Asset size $259.5MM
Participants 875
Industry Health care organization (for profit)
Participation rate 97%
Average deferral rate 8.0%
# of funds offered 18
Investment review Quarterly
True-up match Yes
Match vesting period Immediately upon enrollment
Eligibility Immediately upon hire
Default deferral rate 5%
Default investment Institutional Target-date Fund (Active or Indexed)
Automatic escalation Opt-out
Systematic withdrawals Yes
Fee equalization Yes
Match rate 51%-99% on the first 6% of salary deferrals
% receiving full match >90%
Maximum employer contribution >10%
Financial education:
Saving/Budgeting Yes
Investing strategies Yes
College saving Yes
Credit/Debt management Yes
Tax/Estate planning Yes
Retiree health costs/savings options Yes
Recordkeeper Charles Schwab
Note: Match rates and employer contributions are simplified for reporting purposes and may have other attributes (e.g., caps/limits, tiers, etc.) not listed here.
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