Spectrum Healthcare Partners, P.A., 401(k) Profit Sharing Plan

Plan name Spectrum Healthcare Partners, P.A., 401(k) Profit Sharing Plan
LocationSouth Portland, ME
Asset size ($MM)>$200 million – $500 million
Participants500 – 999
IndustryHealth Care Organization (for profit)
Participation rate98%
Average deferral rate10%
# of funds offered20
Investment reviewAnnually
True-up matchYes
Match vesting periodImmediately upon enrollment
EligibilityImmediately upon hire
Default deferral rate4.6 – 5%
Default investmentTarget-date Fund (all types)
Automatic escalationExactly 1%
Systematic withdrawalsNR
Fee equalizationNR
Match RateTiered Match - i.e., 100% of the first 4% of employee contributions and 50% of the next 2%, or similar
% receiving full matchAll or nearly all participants (90% or more)
Maximum employer contribution6%
Financial Education
Saving/Budgeting
Yes
Investing strategies
No
College saving
Yes
Credit/Debt management
Yes
Tax/Estate planning
Yes
Retiree health costs/savings options​
Yes
RecordkeeperSchwab Retirement Plan Services
Footnotes
NRNot Reported
Yes yes
No no
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