Filed September 19, 2019 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.3 years Service code 15 · EIN 94-1347393 | Recordkeeping | $632,149 |
WILLIS TOWERS WATSON US LLC2 years Filed as: TOWERS WATSON INVESTMENT SVCS, INC. Service code 27 · EIN 52-1868818 | Advisory (Plan) | $78,520 |
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.
Annual investment return 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 | $19,918 | $43,466-54.2% | $99,489-80.0% | $89,609-77.8% |
| Participation rate | 54.5% | 41.5%+13.0pp | 73.8%-19.3pp | 69.6%-15.1pp |
| Annual return | 15.08% | 22.62%-7.5pp | 30.72%-15.6pp | 33.65%-18.6pp |
| Employer contribution / active EE | $174 | $788-77.9% | $2,541-93.1% | $2,584-93.2% |
| Participant deferral / active EE | $1,327 | $1,495-11.2% | $3,619-63.3% | $4,222-68.6% |
| Admin fee / account holder | $49 | $56-11.6% | $6,254-99.2% | $72-31.0% |