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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.5+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $80,236 |
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 | $53,931 | $40,113+34.4% | $84,020-35.8% | $77,775-30.7% |
| Participation rate | 14.9% | 62.8%-47.9pp | 69.0%-54.1pp | 73.2%-58.3pp |
| Annual return | 23.35% | 23.27%+0.1pp | 71.31%-48.0pp | 32.58%-9.2pp |
| Employer contribution / active EE | $0 | $847-100.0% | $1,984-100.0% | $2,504-100.0% |
| Participant deferral / active EE | $473 | $2,030-76.7% | $3,239-85.4% | $3,966-88.1% |
| Admin fee / account holder | $285 | $92+210.9% | $6,101-95.3% | $100+184.6% |