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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.5+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $68,812 |
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO ADVISORS, LLC Service code 16 · EIN 34-1542819 | Consulting | $35,347 |
Service code 13 · EIN 42-0127290 | Contract Administrator | $6,441 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $36,939 | $46,219-20.1% | $89,435-58.7% | $90,274-59.1% |
| Participation rate | 12.9% | 44.9%-32.0pp | 68.0%-55.1pp | 73.4%-60.5pp |
| Annual return | 16.91% | 25.71%-8.8pp | 245.55%-228.6pp | 53.97%-37.1pp |
| Employer contribution / active EE | $0 | $953-100.0% | $2,587-100.0% | $2,523-100.0% |
| Participant deferral / active EE | $1,149 | $2,136-46.2% | $3,890-70.5% | $4,231-72.8% |
| Admin fee / account holder | $250 | $147+70.4% | $4,884-94.9% | $114+119.4% |