Filed September 19, 2019 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2 years Service code 15 · EIN 94-1347393 | Recordkeeping | $583,143 |
KPMG LLP2 years Filed as: KPMG, LLP Service code 10 · EIN 13-5565207 | Accounting | $70,000 |
Filed as: TOWERS WATSON INVESTMENT SVCS, INC. Service code 27 · EIN 52-1868818 | Advisory (Plan) | $61,740 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $18,061 | $38,509-53.1% | $90,657-80.1% | $73,367-75.4% |
| Participation rate | 53.2% | 45.9%+7.2pp | 74.0%-20.8pp | 69.5%-16.3pp |
| Annual return | -1.70% | 2.07%-3.8pp | 1.89%-3.6pp | 173.45%-175.2pp |
| Employer contribution / active EE | $162 | $754-78.4% | $2,532-93.6% | $2,499-93.5% |
| Participant deferral / active EE | $1,186 | $1,495-20.7% | $3,424-65.4% | $4,033-70.6% |
| Admin fee / account holder | $47 | $48-3.1% | $4,994-99.1% | $68-31.6% |