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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $153,470 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $8,334 | $31,994-74.0% | $74,577-88.8% | $65,292-87.2% |
| Participation rate | 13.7% | 38.6%-24.9pp | 68.1%-54.4pp | 72.4%-58.7pp |
| Annual return | 7.98% | 18.54%-10.6pp | 20.47%-12.5pp | 11.84%-3.9pp |
| Employer contribution / active EE | $11 | $793-98.6% | $2,525-99.6% | $2,302-99.5% |
| Participant deferral / active EE | $387 | $1,345-71.3% | $3,458-88.8% | $3,579-89.2% |
| Admin fee / account holder | $88 | $74+18.6% | $4,138-97.9% | $57+53.3% |