Filed January 21, 2025
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $222,477 |
MORNINGSTAR1+ years Filed as: MORNINGSTAR ASSOCIATES, LLC Service code 27 · EIN 36-4317381 | Advisory (Plan) | $23,981 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $153,168 | $62,324+145.8% | $68,509+123.6% | $55,191+177.5% |
| Participation rate | 94.5% | 78.9%+15.6pp | 74.7%+19.8pp | 69.2%+25.4pp |
| Annual return | 0.41% | 4.26%-3.8pp | 8.27%-7.9pp | 10.78%-10.4pp |
| Employer contribution / active EE | $2,846 | $2,223+28.0% | $2,278+24.9% | $1,899+49.9% |
| Participant deferral / active EE | $5,869 | $3,425+71.4% | $3,382+73.5% | $3,046+92.7% |
| Admin fee / account holder | $401 | $91+338.9% | $5,275-92.4% | $91+341.8% |