Plan Snapshot
- Plan Sponsor: Spectrum Medical, INC.
- Sponsor EIN: 540883143
- Sponsor Address: 109 BRIDGE STREET SUITE 300, DANVILLE, VA, 24541
- Plan Type: 401(k)
- Total Participants: 88
- Total Assets: $10.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 88 | $10.5M | $0 | $0 |
| 2023 | 82 | $11.4M | $0 | $0 |
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 |
|---|---|---|---|---|
| HARRIS, HARVEY, NEAL & CO, LLP | Auditor | $16,475 | — | $16,475 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- HARRIS, HARVEY, NEAL & CO, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $16,475
- Estimated Expense Ratio: 0.157% 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 | $20,125 | $1,850 | $1,800 | $16,475 | — |
| 2023 | $12,729 | $879 | $11,850 | — | — |