Filed October 25, 2017
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Filed as: WELLS FARGO ADVISORS Service code 27 · EIN 34-1542719 | Advisory (Plan) | $50,000 |
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $46,048 |
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO ADVISORS FINANCIAL NETW Service code 27 · EIN 34-1542819 | Advisory (Plan) | $12,494 |
Employer 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 | $34,703 | $82,279-57.8% | $78,002-55.5% | $63,975-45.8% |
| Participation rate | 94.6% | 84.7%+9.9pp | 75.5%+19.0pp | 71.1%+23.4pp |
| Annual return | 8.08% | 11.20%-3.1pp | 425.99%-417.9pp | 48.65%-40.6pp |
| Employer contribution / active EE | $313 | $3,297-90.5% | $2,470-87.3% | $2,182-85.7% |
| Participant deferral / active EE | $3,313 | $4,538-27.0% | $3,497-5.3% | $3,356-1.3% |
| Admin fee / account holder | $90 | $81+10.5% | $5,481-98.4% | $70+27.7% |