Filed April 19, 2021 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2 years Service code 15 · EIN 94-1347393 | Recordkeeping | $33,397 |
Service code 50 · EIN 26-4030951 | Direct Payment | $11,846 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $15,040 | $38,833-61.3% | $78,778-80.9% | $77,958-80.7% |
| Participation rate | 28.8% | 60.9%-32.1pp | 69.2%-40.4pp | 71.6%-42.9pp |
| Annual return | 22.80% | 20.31%+2.5pp | 35.62%-12.8pp | 20.87%+1.9pp |
| Employer contribution / active EE | $285 | $840-66.0% | $1,986-85.6% | $2,310-87.7% |
| Participant deferral / active EE | $855 | $1,776-51.8% | $2,958-71.1% | $3,537-75.8% |
| Admin fee / account holder | $99 | $89+11.0% | $5,134-98.1% | $97+1.4% |