Spectrum Pension Consultants, Inc., Marks 30th Anniversary

Wed Jul 2, 2008 1:04pm EDT

* Reuters is not responsible for the content in this press release.

TACOMA, Wash., July 2 /PRNewswire/ -- Spectrum Pension Consultants, Inc.,
an employee benefits consulting firm based in Tacoma, WA, marks its 30th year
in business on July 3.
    The company plans a celebration to honor and thank its clients later in
the year.
    Founded in April 1975 by Panayotis "Pano" Koumantaros as a sole
proprietorship, Spectrum Financial Planning, the company was incorporated July
3, 1978, as Spectrum Pension Consultants, Inc. Pano Koumantaros' vision was to
create a company that would provide consulting and administrative management
services to sponsors of qualified pension and profit sharing plans. Since
then, Spectrum has provided services to more than 2,400 employer-clients and
currently administers retirement benefits for more than 50,000 employees
predominantly in the Northwest, including Tacoma, Seattle, Bellevue, Redmond
and Yakima.
    The company today is headed by the founder's sons, Chief Executive Officer
Petros P. Koumantaros and Yannis P. Koumantaros, marketing director and chief
consultant. Both men assumed leadership roles following the untimely passing
of their father in December 2005. Their mother, Mary Koumantaros, serves as a
director of the company. Also on the board of directors is Brendan O'Farrell,
former Howard Johnson & Company executive, retired HCM International CEO, and
consulting actuary.
    "Reaching this important milestone is an exciting time for Spectrum as we
look toward future growth," said Petros Koumantaros. "We remain absolutely
committed to delivering 'best-in-class' services to employers and their
employees for another 30 years and beyond."
    "Spectrum looks to maintain our high level of service to more than 650
existing clients, while at the same time developing new services to benefit
them and future clients," said Yannis Koumantaros.
    By January 1979, Spectrum Pension Consultants had two employees, Pano
Koumantaros and a receptionist, and 24 clients, several of whom continue with
the firm.
    "Our first clients were dentists, physicians and other local business
owners, many of which became personal friends of ours," said Mary Koumantaros,
who joined the firm in 1981 to oversee its bookkeeping.
    The company initially worked with profit sharing plans, money purchase
pension plans and defined benefit pension plans. By the early 1980s, the first
401(k) plans had been introduced and Spectrum added those for most clients.
    A major milestone was reached both for Spectrum and for Pano Koumantaros
personally on March 25, 1988, when the company put account number 1,000 on the
books. Later that year, the firm, moved from downtown Tacoma to its current
location at 6402 19th Street West, where it had 7,000 square feet of room for
its 21 employees. Today the company has 35 employees.
    Spectrum began offering open architecture daily valuation and linked
self-directed brokerage account services for its clients in 1996, featuring
daily updates of financial information for participants' separate accounts.
The Spectrum Participant Web(TM) and Spectrum Plan Sponsor Web(TM) provide
retirement plan participants options for automatic account rebalancing,
internal rates of return, paperless loans, paperless distributions, and
on-demand reporting. Spectrum also offers cafeteria plan management services.
    About Spectrum
    Spectrum is a leading service provider to employers sponsoring various
retirement, deferred compensation and other employee benefit programs in the
western United States. Spectrum's services are tailored to the specific needs
of each individual client and include: consulting and advice; plan management
and administration; and employee communication and education services.
Additional information about Spectrum is available at the company's web site:
SOURCE  Spectrum Pension Consultants, Inc.

Yannis Koumantaros, ext. 258, or Juli Chase Patton, ext. 267, both of Spectrum
Pension Consultants, Inc., +1-253-565-2100
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