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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.3+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $70,539 |
WELLS FARGO BANK, N.A.2 years Filed as: WELLS FARGO ADVISORS, LLC Service code 16 · EIN 34-1542819 | Consulting | $28,013 |
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 | $22,037 | $34,242-35.6% | $76,518-71.2% | $75,289-70.7% |
| Participation rate | 8.6% | 43.9%-35.4pp | 68.0%-59.4pp | 72.4%-63.9pp |
| Annual return | -1.99% | -0.98%-1.0pp | -0.27%-1.7pp | -0.04%-1.9pp |
| Employer contribution / active EE | $45 | $975-95.4% | $2,647-98.3% | $2,405-98.1% |
| Participant deferral / active EE | $685 | $1,872-63.4% | $3,836-82.1% | $3,739-81.7% |
| Admin fee / account holder | $197 | $112+76.1% | $4,849-95.9% | $102+92.7% |