Spectrum Pension Consultants

Deliver significant value to each client and provide opportunities for every staff member to excel.

Founded 1978
16-50 employees
  • Banking, Corporate Finance, & Investing
  • Headquarters address
    Tacoma, WA

    We were founded as a sole proprietorship in 1975 by Panayotis (“Pano”) Koumantaros. Immigrating to the United States from Greece in 1970, Pano began his financial services career in the insurance industry.

    Pano soon became a leading life insurance agent for Phoenix Mutual when, in 1974, new opportunities emerged. It was that year when President Gerald Ford signed into law the Employee Retirement Income Security Act (“ERISA”). ERISA overhauled employer-sponsor retirement plans in the United States. An entrepreneur at heart, Pano saw an opportunity in ERISA to launch a business dedicated to working with employers on the range of employer-sponsored retirement plans.

    We operated as Spectrum Financial Planning from 1975 until July 3, 1978 when we incorporated in Washington State under the name Spectrum Pension Consultants, Inc. The Company grew steadily and hired more people. To support the growth, Maria (“Mary”) Koumantaros, Pano’s wife, left her teaching career and joined the Company in 1981.

    From the 1975 to 1995 our Business served as a third-party administrator of workplace retirement plans. We designed, implemented, and managed retirement plans for client organizations and their workers. Our clients were almost exclusively small businesses and professional practices. 80% of clients were local businesses to the Puget Sound Region of Washington State. In those days, our work was done manually by reconciling activity from client payroll ledgers and financial institution account statements. Adoption of computers and better software through the 1980s transitioned much of the reconciliation work into spreadsheet applications, but the processes remained highly manual.

    In 1996 our entry into fintech began with the implementation of an automated voice-response unit (“VRU”). Cutting edge technology before the Internet boom of the late 1990s, our VRU unit enabled people to call a toll-free number, receive the daily value of their retirement accounts, and execute certain transactions with the automated attendant telephonically. Providing daily account values required technology and operating enhancements to reconcile all plan financial activity, buy/sell orders, and investment prices each day.

    In 1999 we migrated from the VRU to a web platform that enabled people to manage their accounts online. The online capabilities in 1999 were a far cry from today’s systems and apps, but it was a giant leap forward for clients and retirement plan participants.

    Pano’s sons, Petros and Yannis Koumantaros, took over the company in the wake of Pano’s tragic and unexpected passing from bladder cancer in December 2005. Under Petros and Yannis’s leadership the Company expanded its geographic reach, service offerings, and technological capabilities.

    From 2006 to 2020, our Company’s fintech focus and adoption of enhanced technology solutions enabled us to serve clients throughout the United States. We made strategic acquisitions of other retirement plan service providers, expanding our presence in new geographic markets. We also developed services to complement employer-sponsored retirement plans such as administration of IRA plans and workplace financial wellness plans.

    Today, our Company employs over 35 staff members across multiple U.S. States, works for more than 700 organizations, administers $2+ billion in plan assets, and serves the retirement and financial needs of over 50,000 people. We remain steadfast in our commitment to enhance people’s financial security by managing the ranges of retirement and financial plans for U.S. organizations.

    Tech stack

    Azure, Microsoft SQL Server, .NET, DNN (DotNetNuke), jQuery, Bootstrap, PHP

    Benefits

    Compensation and retirement

    401k plan
    401k matching
    Cell phone reimbursement

    Health and wellness

    Insurance (Health)
    Insurance (Vision)
    Insurance (Life)
    Insurance (Disability)

    Vacation and time off

    Unlimited time off
    Paid holidays
    Work from home flexibility
    Maternity benefits
    Paternity benefits

    Personal development

    Tuition reimbursement
    Conferences reimbursement