Plan Sponsor Services

Traditionally Innovative Retirement Plan Consulting.

We can provide Fiduciary Coordination, Vendor Coordination, Communication Coordination, and Fee & Expense Coordination (including independent Fee Analysis Benchmark Reports). This allows employers and advisors to develop a plan on how to adopt best practices in an effort to increase plan performance and effectiveness. PSS also provides Employee Education services.

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Spectrum PSS services provides consultations for Investment Management, TPA, Recordkeeping, and Third party custody and trust.

Plan Coordination & Fee Analysis Benchmarking

Plan Coordination and Fee Analysis Benchmarking, offered by Spectrum's Plan Sponsor Services (PSS), help employers manage and evaluate their company 401(k) plan. Periodic benchmarking is used to analyze fees, plan design, and participant success measures with comparisons to those in a benchmark group of similar type plans. Below are the four components of PSS Plan Management Services:

Fee & Expense Coordination

The effect of fees and expenses on retirement savings can be substantial. Spectrum determines and monitors a plan's costs --- including investment fees and service related fees. Fee and Expense Management is provided to determine the overall competitiveness and value of a plan's costs.

Fiduciary Coordination

Employers face ongoing exposure to fiduciary liability. Spectrum works directly with plan fiduciaries to properly delegate responsibility and limit liability. This includes fiduciary training, the review of service agreements, governance structure, and more. Fiduciary management is provided to create fiduciary safeguards during the ongoing plan review process.

Vendor Coordination

Fiduciaries are challenged by complexities involved in providing 401(k) retirement plans. Spectrum provides employers a single-point-of-contact to assist in dealing with the various plan service providers. Vendor Management is provided to help employers manage these service providers and monitor the overall quality of services provided.

Communication Coordination

Employers are faced with the question, "Am I properly communicating required 401(k) information to my employees?" Spectrum develops custom communication plans on behalf of employers. This service can include participant newsletters, regulatory alerts, and more --- tailored to your company's needs. Communication Management is provided to create 401(k) deliverables that promote plan engagement among employees and increase financial literacy.

Education & Enrollment Options

Getting employees to fill out enrollment forms by choosing contribution percentages, mutual funds, and beneficiaries, is not enough to assist those who need retirement planning the most. Effectively educating employees about the importance of retirement savings requires a custom education plan. This can include online tools, hard-copy material, targeted emails, and financial counseling.

AdvancedOffered to Spectrum FinWell Clients

Workplace Financial Wellness Assessment
Individual Aggregated Financial Wellness Report
Financial Learning Center
Assess Financial Situation and Obtain Personalized Guidance
Financial Helpline
On Demand and Ongoing Phone-based Coaching
One-on-One Consultations
Proactive Financial Planning Sessions
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EnhancedOffered to Spectrum PSS Clients

Customized Presentations
Target Select Groups with Enhanced Retirement Education
Customized Email Campaigns
Raise Awareness and Promote Plan Engagement
Group Meetings
Facilitate Onsite Retirement Plan Discussions
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Basic Offered to Spectrum Recordkeeping Clients

Fixed Presentation
Basic Retirement Education and Plan Benefits
Participant Tool Kit
Investment Education, Enrollment Guidance, Web Access, & Retirement Income Calculator
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Advisor Partnership Program

Advisors face challenges in managing client accounts. Plan asset leakage, minimum purchase requirements, and fragmented technology make it difficult to service the average IRA. GROUPIRA® changes that.

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