Filed January 11, 2024
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2 years Filed as: WELLS FARGO ADVISORS, LLC Service code 27 2520 NORTHWINDS PKWY STE 200 · ALPHARETTA, GA 300922233 | Advisory (Plan) | $27,229 |
Service code 12 · EIN 48-1205033 | Sub-transfer agency fees; Finders' fe... | $4,064 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $34,500 | $73,102-52.8% | $123,549-72.1% | $56,287-38.7% |
| Participation rate | 69.8% | 74.3%-4.5pp | 82.3%-12.5pp | 69.9%-0.1pp |
| Annual return | -6.79% | 3.01%-9.8pp | 119.20%-126.0pp | -9.96%+3.2pp |
| Employer contribution / active EE | $1,959 | $2,977-34.2% | $4,628-57.7% | $2,111-7.2% |
| Participant deferral / active EE | $6,611 | $5,423+21.9% | $6,426+2.9% | $3,350+97.4% |
| Admin fee / account holder | $99 | $554-82.2% | $9,284-98.9% | $521-81.0% |