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Retirement plan

WELLS FARGO & COMPANY CASH BALANCE PLAN

WELLS FARGO & COMPANYEIN 41-0449260Plan #001PY 2022
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MAC A0101-121, 420 MONTGOMERY STREET - SAN FRANCISCO, CA 94104877-479-3557LinkedIn11-50 employees
Other plans on this EIN
2 filings
#002Retirement-$45.77B assets#022Retirement-$49.0M assets
Prospect flagsHigh retiree %Wind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
LEE KEEL
Signed 10/04/2023
(877) 479-3557
Plan administrator signer
DREW WINELAND
Signed 10/04/2023
Plan administrator entity
WELLS FARGO & COMPANY
EIN 410449260
MAC N9310-110, 550 S. 4TH STREET · MINNEAPOLIS, MN 55415
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Summary metrics

Total assets (EOY)
$8784.4M
-0.3% from 2016
Total participants
197,076
+4.4% from 2016
Average account balance
$0
No prior year
Annual return
-17.88%
-9.53 pp from 2016

Benchmarks

See 204 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort204 peers
Snapshot2022
Participant deferral / active EE
$0
median $38
Employer contribution / active EE
$0
median $6,003
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $1,469,698
Admin fee / account holder
$0
median $19,323
Annual return
-17.88%
median -13.75%
Overall peer rank
28th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$8.28B
Average account balance
Total assets / participants with a balance (line 6g)
$50K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
125,285
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$570.00M
Contributions per participant
Average employer and participant contribution per enrolled participant
$8K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+2.01%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 of 48 by compensation
ProviderService typeCompensation
TOWERS WATSON DELAWARE INC8+ years
Service code 12 · EIN 53-0181291
Claims processing; Direct payment fro...
$7,151,545
PRUDENTIAL INVESTMENT MANAGEMENT8+ years
Service code 28 · EIN 22-2540245
Investment Management
$1,927,207
NISA INVESTMENT ADVISORS LLC8+ years
Service code 28 · EIN 48-1140940
Investment Management
$1,362,510
DELAWARE CHARTER GUARANTEE & TRUST1 year
Service code 21 · EIN 51-0099493
Bank Trustee
$1,207,324
PINEBRIDGE INVESTMENTS LLC8+ years
Service code 28 · EIN 06-1078320
Investment Management
$1,137,619
FIAM LDI6 years
Service code 28 · EIN 20-1733361
Investment Management
$1,113,195
DYAL IV PENSION INVESTORS LP4 years
Service code 28 · EIN 98-1390988
Investment Management
$995,223
DODGE & COX8+ years
Service code 28 · EIN 94-1441976
Investment Management
$769,305
DOUBLELINE CAPITAL LP6 years
Service code 28 · EIN 30-0596331
Investment Management
$736,841
GLOBAL INFRASTRUCTURE PARTNERS8+ years
Service code 28 · EIN 20-5504170
Investment Management
$720,076

Enrolled actuary

1 attachment
SB

J. ASHLEY LONG, ASA, EA

AON CONSULTING, INC.
Enrollment #2307146
1111 METROPOLITAN AVE, SUITE 400
CHARLOTTE, NC 28204
(704) 343-4100
Signed 2023-08-03

Reportable transactions (Schedule G)

2 rows

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

CategoryCounterpartyRelationship / TermsAddressAmount
Part 1
Loan in default
FOREST OIL CORPORATION—
1415 LOUISIANA
SUITE 1600
HOUSTON, TX 77002
—
Part 1
Loan in default
FOREST OIL CORPORATION—
1415 LOUISIANA
SUITE 1600
HOUSTON, TX 77002
—

Top hat statement on fileNQDC

Filed December 29, 1993 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

Plan features & details

Pension benefit codes1C1E1I3H
Plan features
  • 1C
    Cash balance or similar plan
    A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
  • 1E
    Section 401(h) arrangement
    Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • 1I
    Frozen plan
    As of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped
  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

  • InformationalWind-down / frozen

    Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II
Admin total
$42.1M
$786 / participant
  • Investment mgmt$14M34.0%
  • Contract admin$9M21.0%
  • Other / not subdivided$19M45.0%
% of EOY assets
0.479%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
KPMG, LLP
Auditor EIN
135565207
Audit fees
(not subdivided)
Opinion code
Unqualified