Filed May 9, 2019
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO BANK NA Service code 15 · EIN 94-1347393 | Recordkeeping | $346,097 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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 | $89,715 | $176,471-49.2% | $95,968-6.5% | $90,274-0.6% |
| Participation rate | 68.4% | 86.6%-18.2pp | 77.1%-8.7pp | 73.4%-5.0pp |
| Annual return | 18.45% | 20.15%-1.7pp | 91.65%-73.2pp | 53.97%-35.5pp |
| Employer contribution / active EE | $1,799 | $2,783-35.4% | $2,542-29.2% | $2,523-28.7% |
| Participant deferral / active EE | $3,710 | $5,325-30.3% | $4,167-11.0% | $4,231-12.3% |
| Admin fee / account holder | $88 | $154-42.6% | $6,798-98.7% | $114-22.4% |