Filed April 5, 2018
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $792,752 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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 | $36,842 | $38,963-5.4% | $71,793-48.7% | $329,111-88.8% |
| Participation rate | 62.7% | 53.8%+8.9pp | 69.1%-6.4pp | 67.9%-5.2pp |
| Annual return | 21.19% | 9.85%+11.3pp | 78.04%-56.8pp | 16.35%+4.8pp |
| Employer contribution / active EE | $588 | $758-22.4% | $1,924-69.4% | $2,303-74.5% |
| Participant deferral / active EE | $2,529 | $1,286+96.7% | $2,794-9.5% | $3,682-31.3% |
| Admin fee / account holder | $64 | $50+26.9% | $4,815-98.7% | $754-91.5% |