Filed July 7, 2016 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.6+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $1,785 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $17,823 | $81,725-78.2% | $81,983-78.3% | $93,223-80.9% |
| Participation rate | 35.4% | 71.9%-36.5pp | 69.2%-33.9pp | 74.9%-39.5pp |
| Annual return | 16.61% | 20.25%-3.6pp | 41.31%-24.7pp | 19.29%-2.7pp |
| Employer contribution / active EE | $492 | $2,446-79.9% | $2,498-80.3% | $2,680-81.6% |
| Participant deferral / active EE | $1,005 | $3,747-73.2% | $3,722-73.0% | $4,563-78.0% |
| Admin fee / account holder | $1 | $92-99.4% | $5,664-100.0% | $79-99.3% |