Plan Snapshot
- Plan Sponsor: Spectrum Health Services INC
- Sponsor EIN: 231686225
- Sponsor Address: 5201 HAVERFORD AVE, PHILADELPHIA, PA, 19139
- Plan Type: 401(k)
- Total Participants: 127
- Total Assets: $2.1M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: Yes
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 127 | $2.1M | $122,477 | $345,595 |
| 2023 | 119 | $1.8M | $74,016 | $293,280 |
| 2022 | 106 | $1.3M | $57,960 | $226,103 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| SPECTRUM HEALTH SERVICES INC | Other Service Provider | $19,795 | — | $19,795 |
| COMMONWEALTH EQUITY SERVICES | Investment Advisor | $13,173 | — | $13,173 |
| EMPOWER ANNUITY INSURANCE CO | Recordkeeper | $10,017 | — | $10,017 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $42,985
- Estimated Expense Ratio: 2.079% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $44,921 | — | — | — | — |
| 2023 | $20,578 | — | — | — | — |
| 2022 | $16,548 | $16,548 | — | — | — |