Overview

Plan Rating

BrightScope Rating
69
Lowest Rating in Peer Group
Average Rating in Peer Group
Highest Rating in Peer Group
0102030405060708090100
Lowest in Peer Group (18)
Average in Peer Group (72)
Highest in Peer Group (92)

Plan Description

Spectrum Health System 403(b) Plan is a defined contribution plan. This plan has a BrightScope Rating of 69. This plan is in the top 35% of plans for Company Generosity, Participation Rate, and Total Plan Cost. Spectrum Health System 403(b) Plan currently has over 35,300 active participants and over $1.6B in plan assets.

Did you know?

For the average 401k participant, the 23 point difference between this plan's BrightScope Rating (69) and the top rated plan (92) could equate to:
16
Additional years of work
50,771
Lost Savings
*The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer. How is this calculated?

Plan Details

Plan Details Relevant details about the plan and the plan sponsor, including the address and industry of the plan sponsor and the size of the plan in assets and participants.

 
Plan data accurate as of 12/31/2018
Plan data has been audited by an Independent Qualified Public Accountant (IQPA).
Address 100 Michigan Street Ne
  • Location
    Grand Rapids , MI
  • 49503
  • Industry
    Health Care and Social Assistance
  • Net Plan Assets
    $1,630,000,000
  • Total Participants
    35,000
  • Avg Account Balance
    $49,000

Plan Components

Component Ratings

Design

Total Plan Cost:
Low Fees
Company Generosity:
Above Average

Performance

Participation Rate:
Above Average
Salary Deferrals:
Average
Account Balance:
Average

Design

Total Plan Cost:
Highest
Company Generosity:
Average

Performance

Participation Rate:
Average
Salary Deferrals:
Below Avg.
Account Balance:
Poor

Top Industry Articles

Investments

Investment Menu Stats

# of Investment Options

41

(Plan Average: 20)

Largest Funds in this Plan Allocation of Assets 1 YR Rank in Category
Voya Financial (ING) Solutions 32%
N/A
Voya Fixed Plus Account I 16%
N/A
MFS Massachusetts Investors Growth Stock 9%
90%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
View all funds in this plan

Providers

Plan Service Providers

SERVICE PROVIDER
Insurance Carrier
Voya Financial (ING)
Insurance Advisor/Broker
James G Hamilton
Insurance Advisor/Broker
Kristi E Turchan
Insurance Advisor/Broker
Casey A Tjalsma
Insurance Advisor/Broker
Deborah M Verker
Insurance Advisor/Broker
Jenna R Riley
Recordkeeper
Voya Financial (ING)
Investment Adviser
Stifel Pearl Street Investment
Legal Counsel
Miller, Johnson, Snell & Cummiskey
Auditor
Plante & Moran, PLLC

Articles and Questions

Boeing Plan Report (Updated)

Boeing Fee Settlement Highlights the High Bar for Large Plans

Boeing Offers a Near Perfect Retirement Plan ModelIn most respects Boeing’s retirement offering is a great model of how to run a large retirement plan. Participants in Boeing’s 401(k) plan are beneficiaries of a participant-friendly design with immediate access, automatic enrollment, immediate ves

Why Do Investment Expenses Matter?
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