Filed October 10, 2022
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.4 years Service code 15 · EIN 94-1347393 | Recordkeeping | $43,425 |
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO ADVISORS Service code 27 · EIN 34-1542819 | Advisory (Plan) | $19,526 |
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.
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 | $78,454 | $69,159+13.4% | $125,192-37.3% | $67,579+16.1% |
| Participation rate | 60.4% | 78.2%-17.8pp | 79.8%-19.3pp | 71.3%-10.8pp |
| Annual return | 23.35% | 27.12%-3.8pp | 43.79%-20.4pp | 378.56%-355.2pp |
| Employer contribution / active EE | $185 | $2,023-90.9% | $3,866-95.2% | $2,148-91.4% |
| Participant deferral / active EE | $2,631 | $3,700-28.9% | $4,937-46.7% | $3,539-25.7% |
| Admin fee / account holder | $260 | $142+83.5% | $9,704-97.3% | $142+82.8% |