Press Release

Spectrum CEO to Deliver Testimony to Senate HELP Committee

Issued by Spectrum Pension Consultants, Inc.

Mar. 23, 2022

TACOMA, Wash. -- Spectrum Pension Consultants, Inc. (“Spectrum”) today announced its Managing Director and Chief Executive Officer, Petros Koumantaros (“Petros”) will deliver testimony before a hearing of the United States Senate Committee on Health, Education, Labor, and Pensions (the “Committee”) in support of retirement security. The Committee’s hearing, scheduled for Tuesday, March 29, 2022, will explore public policies to enhance retirement security in America.

Petros joined Spectrum, the firm founded by Petros’s father, over 16 years ago. Petros consults with employers on the administration, compliance, documentation, and recordkeeping of 401(k) and other employer-sponsored retirement plans. Petros is a co-founder and the chairperson of GROUPIRA, a fintech company that empowers people to invest better within individual retirement accounts and enables investment advisers to grow their individual retirement account businesses. Petros also serves as a financial consultant and leads the Seattle area branch office of intellicents investment solutions, inc. (“intellicents”), an SEC registered investment advisor with over $5 billion in assets under management. Petros is a principal and shareholder in seven closely held financial service and retirement plan consulting, administration, and technology businesses. Collectively, those businesses work with 2,200 retirement plans, representing $9.2 billion in retirement plan assets, and support over 97,000 retirement plan participants. Petros earned a B.A. from the University of Washington and an M.B.A. from Arizona State University.

“I thank Chair Patty Murray, Ranking Member Richard Burr, and all the Committee members for the invitation to provide testimony. I look forward to sharing thoughts and perspectives on how best to preserve, protect, and enhance retirement security in the United States so everyone can save towards a dignified financial future,” said Petros.

As an expert in retirement plan design, administration, compliance, and investment counseling Petros will discuss three areas of improvement for defined contribution retirement plans at the Committee’s hearing:

1. the impact of the COVID-19 pandemic on defined contribution plans and the need for participants to have access to emergency savings;
2. the need for worksite financial planning and increased financial education; and
3. views on how best to expand defined contribution retirement plan coverage.

More information about the Committee, GROUPIRA, intellicents, and Spectrum is available at: http://help.senate.gov, http://GROUPIRA.com, http://intellicents.com, and http://spectrumpension.com.

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