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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.3+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $14,178 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $41,774 | $38,833+7.6% | $78,778-47.0% | $77,958-46.4% |
| Participation rate | 20.4% | 60.9%-40.5pp | 69.2%-48.8pp | 71.6%-51.2pp |
| Annual return | 19.53% | 20.31%-0.8pp | 35.62%-16.1pp | 20.87%-1.3pp |
| Employer contribution / active EE | $0 | $840-100.0% | $1,986-100.0% | $2,310-100.0% |
| Participant deferral / active EE | $546 | $1,776-69.2% | $2,958-81.5% | $3,537-84.5% |
| Admin fee / account holder | $178 | $89+99.8% | $5,134-96.5% | $97+82.6% |