Filed September 6, 2022
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $1,395 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $22,937 | $43,550-47.3% | $63,244-63.7% | $52,331-56.2% |
| Participation rate | 8.6% | 65.7%-57.1pp | 71.0%-62.5pp | 68.1%-59.5pp |
| Annual return | -0.74% | 2.03%-2.8pp | -70.31%+69.6pp | 4.54%-5.3pp |
| Employer contribution / active EE | $0 | $1,351-100.0% | $2,322-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $267 | $2,254-88.1% | $2,953-91.0% | $3,022-91.2% |
| Admin fee / account holder | $145 | $387-62.5% | $5,893-97.5% | $592-75.5% |