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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1+ years Filed as: WELLS FARGO, NA Service code 15 · EIN 94-1347393 | Recordkeeping | $3,613 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $17,245 | $65,263-73.6% | $90,223-80.9% | $55,191-68.8% |
| Participation rate | 60.9% | 79.0%-18.1pp | 79.0%-18.2pp | 69.2%-8.3pp |
| Annual return | 0.80% | 2.81%-2.0pp | 1.31%-0.5pp | 10.78%-10.0pp |
| Employer contribution / active EE | $893 | $4,153-78.5% | $4,378-79.6% | $1,899-53.0% |
| Participant deferral / active EE | $3,554 | $5,564-36.1% | $5,792-38.6% | $3,046+16.7% |
| Admin fee / account holder | $9 | $116-92.6% | $7,406-99.9% | $91-90.5% |