Resources

rss

Spectrum Resource Center

Advice, Articles, Events, Insights, News, Newsletters, Opinions, Press Releases, Updates, and More from Spectrum.

img/Spectrum-Banner-1000x667.png

Spectrum Update and Service Enhancements Q3'2018

Dear Friends,

We wanted to provide our clients, their professional advisors, and our firm's key contacts with a quick business update. Q3'2018 was a very exciting quarter for Spectrum. Among other things, we celebrated Spectrum's 40th birthday party at Tacoma Country and Golf Club; we hosted the 13th annual Spectrum Open Charity Golf Tournament and Dinner Event; we implemented the Spectrum Client Portal to streamline retirement plan implementations; we launched our cybersecurity awareness training services.

Spectrum was proud to host the 13th Annual Spectrum Open Golf Tournament and Dinner Event on August 27, 2018 at Fircrest Golf Club. This was a remarkable event -- please check out the Spectrum Open photo album and see for yourself. Proceeds from the Spectrum Open benefitted the Pano Koumantaros Cancer Research Fund (the "Fund"), a 501(c)(3) nonprofit organization. The Fund is named after Spectrum's Founder, Panayotis "Pano" Koumantaros, who lost a 6-month battle with bladder cancer. This year's event raised $152,926, which exceeded the fundraising goal, and broke prior fundraising records. We were incredibly moved by the strong community support. From the bottom of our heart -- Thank You!

Spectrum's 40th birthday party at Tacoma Golf and Country Club was a hit, and we are also sharing some of the photos to prove it! We were thrilled that many long-term clients and former clients, some of whom are now enjoying retirement, were able to attend. We thank every client, professional advisor, strategic partner, staff member, and friend who has been part of our 40-year journey.

Spectrum is always working to innovate and enhance client experiences. This past quarter we launched the Spectrum Client Portal. Today, we use it to streamline Plan Implementations. In the long-term, the Spectrum Client Portal will feature multiple modules. These modules will enable clients to work more securely and efficiently with our team on all aspects of the service experience. As an example, we look to add our Plan Intelligence Advanced Analytics to the Spectrum Client Portal in 2019.

We know cybersecurity remains a concern to many organizations. Spectrum is delighted to introduce Cybersecurity Awareness Training Services. With phishing attacks and other cybersecurity threats on the rise, every organization must protect itself. We view this service as a foundational business need, which is why we have priced it very competitively. Also, on the security roadmap is Multifactor Authentication ("MFA") for the Spectrum Participant Web and Spectrum Plan Sponsor Web. We expect to roll-out MFA in late Q4'2018.

Released earlier this year Spectrum Payroll360™, has been widely adopted by our clients. Spectrum Payroll360™ features bi-directional data integration with major payroll vendors. With it, employers automate retirement plan contribution reporting and funding processes. Imagine - you never again need to manually upload payroll data! Also gaining momentum is our workplace financial wellness program, Spectrum FinWell™. Studies have demonstrated that employee financial stress leads to decreased worker productivity. Spectrum FinWell™ is designed to address the root causes of financial stress, enabling workers to meet financial goals, and perform better in the workplace. Our Spectrum FinWell™ CFP Professional Call Center provides workers with unlimited access to financial professionals who can help with budgeting, debt management, investing, planning, and saving.

Lastly, we were honored that three (3) of our firm's executives, Yannis Koumantaros, CFO, Kevin Boercker, COO, and I were invited to speak at the 2018 American Society of Pension Professionals and Actuaries (ASPPA) Annual Conference in Washington, D.C. The ASPPA Annual Conference is the signature event for retirement plan professionals. Topics range from advanced retirement plan design to workplace best practices for improving participant outcomes.

If you are interested in learning more or know an organization that could benefit from our products or services, Spectrum's online proposal system makes it easy to request information.

We will send our next quarterly business update in January 2019. If you would like to hear from us more regularly, please connect through Spectrum's social media channels. We always welcome feedback, so feel free to contact us on any matter. Again, we thank every client and professional advisor for placing their confidence and trust in our firm.


Sincerely,

Petros P. Koumantaros
Managing Director & CEO


blog comments powered by Disqus

Tags

401k loan participant loan investing margin professional plan design practice defined benefit pension fees dol retirement readiness documents compliance spectrum open golf pano cancer event tournament philanthropy fiduciary rule tax cuts press release bi cloud technology azure plan intelligence docusign microsoft myretirement limits irs retirement plan contribution asset allocation investments newsletter cybersecurity plan termination merger acquisition gender retirement gap lifetime income investment returns women men erisa defined contribution financial wellness employees financial stress plan faq participant questions payroll finwell plan education fis impact award technology innovation education entreprenuers business accumulation startup wealth ira charity millennials 40th anniversary celebration soc-1 automation recordkeeping case study portal fiduciary tax deduction enrollment escalation video automatic qdia qualified default investment alternative roth participant outcomes uncashed checks distributions debt credit saving cash balance cbpp safe harbor nondiscrimination adp acp top-heavy plan sponsor 3(16) hardship withdrawal forfeiture forfeit vested vesting owner audit bond bundled unbundled psoy plan sponsor of the year abg mfa consulting employer connect reports student loans db/dc providers services guide erisawrap welfare benefit plan fundraiser document cancer reserach retirement confidence wrap spd wrap document plan document welfare benefits employee benefits healthcare wrap unvested vested account balance spectrumopen spd wrapspd spectrumplatform market volatility participant behavior socially responsible esg plan participation secureact SECURE legislation secureact2019 secureactof2019 secure act secure act of 2019 qaca participation restate restatement erisa bond fidelity bond bonding goals plan amendment election 2020 coronavirus covid-19 business continuity cares act cares covid19 relief retirement plan relief the cares act workforce demographics older employees covid the secure act engagement SECURE 2.0 Act Retirement Plan Legislation 401(k)

ERISA Workplace Retirement Plan Limits

The federal government annually publishes updated qualified retirement plan limits, which impact the contributions, benefit accruals, and compliance of ERISA covered qualified retirement plans. The below tables summarize the most significant changes in recent history.


Newsletter

Keep up on our evolving products, services, solutions, and technology through our Newsletters.

About Our Firm

Spectrum is a B2B consulting firm, which enables American Workers to plan and save towards a dignified financial future by designing, administering, and operating the ranges of retirement and financial plans for U.S. employers.

Get in touch

  • Address: 6402 19th Street, Tacoma, WA 98466, USA

  • Phone: +1 (253) 565-2100

  • Email: Contact Us Form