Filed September 6, 2022
Sign up free to preview peer percentile detail
Free accounts unlock saves, downloads, and 3-year history.
Sign up free to preview 10-year trajectory
Free accounts unlock saves, downloads, and 3-year history.
| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $45,205 |
WELLS FARGO BANK, N.A.2+ years Filed as: WELLS FARGO ADVISORS FINET Service code 27 · EIN 59-2611726 | Advisory (Plan) | $19,705 |
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO ADVISORS, LLC Service code 27 · EIN 34-1542819 | Advisory (Plan) | $7,500 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $60,325 | $50,106+20.4% | $69,779-13.5% | $57,658+4.6% |
| Participation rate | 28.6% | 70.9%-42.2pp | 71.8%-43.2pp | 70.2%-41.6pp |
| Annual return | 11.84% | 14.58%-2.7pp | 12.99%-1.1pp | 5.13%+6.7pp |
| Employer contribution / active EE | $395 | $1,739-77.3% | $2,338-83.1% | $1,974-80.0% |
| Participant deferral / active EE | $1,758 | $2,486-29.3% | $2,931-40.0% | $3,061-42.5% |
| Admin fee / account holder | $303 | $89+239.7% | $4,381-93.1% | $95+220.5% |