PlanOptica
Retirement plan

PUERTO RICO FINANCIAL RETIREMENT PLAN

WELLS FARGO & COMPANYEIN 41-0449260Plan #022PY 2022
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MAC A0101-121, 420 MONTGOMERY STREET - SAN FRANCISCO, CA 94104888-337-3307LinkedIn11-50 employees
Other plans on this EIN
2 filings
#002Retirement-$45.77B assets#001Retirement-$8.78B assets
Prospect flagsHigh retiree %Wind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
LEE KEEL
Signed 09/26/2023
(888) 337-3307
Plan administrator signer
DREW WINELAND
Signed 09/26/2023
Plan administrator entity
WELLS FARGO & COMPANY
EIN 410449260
550 S. 4TH STREET, MAC N9310-110 · MINNEAPOLIS, MN 55415
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Summary metrics

Total assets (EOY)
$49M
-13.0% from 2017
Total participants
1,561
+0.4% from 2017
Average account balance
$0
No prior year
Annual return
-15.26%
-4.62 pp from 2017

Benchmarks

See 99 peers
Peer group
Industry55 - Management of Companies and Enterprises
Plan typeDefined benefit
Participants<25
Cohort99 peers
Snapshot2022
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$0
median $41,721
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $2,278,297
Admin fee / account holder
$0
median $0
Annual return
-15.26%
median -15.21%
Overall peer rank
47th percentileavg across 6 metrics

Analytics

2016 - 2024
Total assets (EOY)
Plan-year ending balance
$53.40M
Average account balance
Total assets / participants with a balance (line 6g)
$35K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
1,539
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Not enough data
2 years with eligibility data
Contributions (total)
Employer and participant dollars contributed each year
$3.20M
Contributions per participant
Average employer and participant contribution per enrolled participant
$10K
Not enough data
2 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+7.72%
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 2 by compensation
ProviderService typeCompensation
HEWITT ASSOCIATES7+ years
Service code 11 · EIN 36-2235791
Actuarial
$231,875
BANCO POPULAR DE PUERTO RICO7+ years
Service code 15 · EIN 66-0561870
Recordkeeping
$117,091

Enrolled actuary

1 attachment
SB

GRACE K. LATTYAK

AON CONSULTING, INC.
Enrollment #2307120
MSC #17805
PO BOX 19640
IRVINE, CA 92623
(847) 296-5000
Signed 2023-08-31

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 codes1A1I3C3H
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 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.
  • 3C
    Plan not intended to be qualified
    A plan not intended to be qualified under Code sections 401 403 or 408.
  • 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
$351K
  • Investment mgmt$2K0.5%
  • Contract admin$232K66.1%
  • Other / not subdivided$117K33.4%
% of EOY assets
0.716%
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