Filed December 4, 2024
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $637,442 |
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 | $8,849 | $38,963-77.3% | $71,793-87.7% | $329,111-97.3% |
| Participation rate | 91.3% | 53.8%+37.5pp | 69.1%+22.2pp | 67.9%+23.4pp |
| Annual return | 8.43% | 9.85%-1.4pp | 78.04%-69.6pp | 16.35%-7.9pp |
| Employer contribution / active EE | $666 | $758-12.2% | $1,924-65.4% | $2,303-71.1% |
| Participant deferral / active EE | $1,341 | $1,286+4.3% | $2,794-52.0% | $3,682-63.6% |
| Admin fee / account holder | $36 | $50-27.8% | $4,815-99.2% | $754-95.2% |