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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.4+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $229,267 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $25,063 | $68,904-63.6% | $90,782-72.4% | $68,904-63.6% |
| Participation rate | 38.5% | 74.1%-35.6pp | 82.7%-44.2pp | 74.1%-35.6pp |
| Annual return | 8.27% | 1.07%+7.2pp | -3.42%+11.7pp | 1.07%+7.2pp |
| Employer contribution / active EE | $410 | $2,540-83.9% | $4,105-90.0% | $2,540-83.9% |
| Participant deferral / active EE | $1,198 | $4,015-70.2% | $5,366-77.7% | $4,015-70.2% |
| Admin fee / account holder | $65 | $71-9.2% | $5,908-98.9% | $71-9.2% |