Spectrum Medical, Inc.401(k)
SPECTRUM MEDICAL, INC. PROFIT SHARING RETIREMENT PLAN · DANVILLE, VA · plan year 2022
Peer grade: A- · admin costs + employer contributions vs same-size plans · how grading works
Spectrum Medical, Inc. reported $12,729 in plan administrative expenses for 2022: 0.12% of average plan assets, below the peer median. Employer contributions averaged $6,237 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.12% to 0.42%. The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other health care & social assistance employers. By assets it is among the smaller plans on file in Virginia (1,370th of 2,266), and the 5,331st of 11,911 in health care & social assistance. In 2022, the employer put in $1.19 for every $1.00 employees contributed themselves.
Spectrum Medical, Inc.'s 2022 employer contribution ran above the $2,266 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
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Source: U.S. Department of Labor, Form 5500 series, EIN 540883143 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.