Filed April 5, 2018
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $702,484 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $31,589 | $36,004-12.3% | $64,101-50.7% | $69,651-54.6% |
| Participation rate | 59.8% | 47.3%+12.6pp | 68.2%-8.4pp | 66.6%-6.8pp |
| Annual return | -0.78% | 4.26%-5.0pp | 791.27%-792.1pp | 53.77%-54.5pp |
| Employer contribution / active EE | $508 | $617-17.7% | $1,820-72.1% | $2,241-77.3% |
| Participant deferral / active EE | $2,304 | $1,166+97.6% | $2,822-18.3% | $3,635-36.6% |
| Admin fee / account holder | $62 | $49+26.8% | $4,499-98.6% | $63-1.8% |