Filed June 2, 2022
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.3+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $37,523 |
WELLS FARGO BANK, N.A.3+ years Filed as: WELLS FARGO ADVIISORS PCG Service code 27 | Advisory (Plan) | $26,538 |
WELLS FARGO BANK, N.A.3+ years Filed as: WELLS FARGO ADVISORS, PCG Service code 27 · EIN 56-0276690 | Advisory (Plan) | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $62,983 | $71,192-11.5% | $117,861-46.6% | $62,293+1.1% |
| Participation rate | 90.3% | 74.2%+16.1pp | 79.7%+10.7pp | 69.5%+20.8pp |
| Annual return | 23.02% | 18.66%+4.4pp | 335.11%-312.1pp | 28.90%-5.9pp |
| Employer contribution / active EE | $678 | $1,934-64.9% | $3,786-82.1% | $2,042-66.8% |
| Participant deferral / active EE | $2,961 | $3,189-7.1% | $4,482-33.9% | $3,169-6.6% |
| Admin fee / account holder | $334 | $587-43.1% | $8,021-95.8% | $479-30.3% |