Retirement plan
WELLS FARGO & COMPANY CASH BALANCE PLAN
WELLS FARGO & COMPANYEIN 41-0449260Plan #001PY 2023
Other plans on this EIN
2 filingsProspect flagsHigh retiree %Wind-down / frozen
Filing contacts
From the Form 5500, federal recordPlan administrator signer
DANIELA NESE
Signed 10/11/2024
Plan administrator entity
HEAD OF HR, HEAD OF TOTAL REWARDS, AND HEAD OF BENEFITS
EIN 410449260
MAC N9310-110, 550 S. 4TH STREET · MINNEAPOLIS, MN 55415
Summary metrics
Total assets (EOY)
$8784.3M
-0.3% from 2016
Total participants
174,938
+4.4% from 2016
Average account balance
$0
No prior year
Annual return
7.29%
-9.53 pp from 2016
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort191 peers
Snapshot2023
0
Participant deferral / active EE
$0
median $12
0
Employer contribution / active EE
$0
median $5,926
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
0
Admin fee / account holder
$0
37
Annual return
7.29%
median 8.27%
Overall peer rank
37of 100
37th 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 40 by compensation
| Provider | Service type | Compensation |
|---|---|---|
TOWERS WATSON DELAWARE INC9+ years Service code 12 · EIN 53-0181291 | Direct payment from the plan; Contrac... | $8,757,240 |
NISA INVESTMENT ADVISORS LLC9+ years Service code 28 · EIN 48-1140940 | Investment Management | $2,054,268 |
Service code 21 · EIN 51-0099493 | Bank Trustee | $1,585,242 |
PRUDENTIAL INVESTMENT MANAGEMENT9+ years Service code 28 · EIN 22-2540245 | Investment Management | $1,488,078 |
Service code 28 · EIN 98-1390988 | Investment Management | $1,437,313 |
DODGE & COX9+ years Service code 28 · EIN 94-1441976 | Investment Management | $1,122,060 |
FIAM LDI7 years Service code 28 · EIN 20-1733361 | Investment Management | $908,169 |
DOUBLELINE CAPITAL LP7 years Service code 28 · EIN 30-0596331 | Investment Management | $882,800 |
GLOBAL INFRASTRUCTURE PARTNERS9+ years Service code 28 · EIN 20-5504170 | Investment Management | $865,897 |
PINEBRIDGE INVESTMENTS LLC9+ years Service code 28 · EIN 06-1078320 | Investment Management | $740,908 |
Enrolled actuary
1 attachment
SB
SUSANNA M. CHINAKA, FSA, EA
AON CONSULTING, INC.
Enrollment #2308231
1111 METROPOLITAN AVE, SUITE 400
CHARLOTTE, NC 28204
(704) 343-4100
Signed 2024-09-18
Reportable transactions (Schedule G)
3 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.
| Category | Counterparty | Relationship / Terms | Address | Amount |
|---|---|---|---|---|
| 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 | — |
| Part 3 Non-exempt transaction | WELLS FARGO & COMPANY | SPONSOR SEE ATTACHMENT-SCHEDULE G | — | $0 |
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.
Plan features & details
Pension benefit codes1C1E1I3H
Plan features
- 1CCash balance or similar planA 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).
- 1ESection 401(h) arrangementPlan contains separate accounts under Code section 401(h) to provide employee health benefits.
- 1IFrozen planAs 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.
- 3HControlled group memberPlan 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
$44.0M
$938 / participant
- Recordkeeping$9M19.9%
- Trustee / custodial$2M3.6%
- Investment mgmt$13M29.6%
- Contract admin$338K0.8%
- Other / not subdivided$20M46.1%
% of EOY assets
0.501%
all-in expense ratio
Categories reported
4 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- CROWE, LLP
- Auditor EIN
- 350921680
- Audit fees
- $80,000
- Opinion code
- Unqualified