Filed December 4, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $718,655 |
WELLS FARGO BANK, N.A.7+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $223,990 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $22,325 | $55,785-60.0% | $96,583-76.9% | $106,520-79.0% |
| Participation rate | 90.7% | 53.4%+37.3pp | 69.8%+20.9pp | 71.3%+19.4pp |
| Annual return | 19.25% | 17.66%+1.6pp | 37.79%-18.5pp | 19.28%0pp |
| Employer contribution / active EE | $1,143 | $1,042+9.8% | $2,357-51.5% | $2,840-59.7% |
| Participant deferral / active EE | $2,304 | $1,782+29.2% | $3,850-40.2% | $4,948-53.4% |
| Admin fee / account holder | $57 | $59-2.2% | $6,184-99.1% | $75-23.0% |