Filed December 18, 2023 (most recent of 4 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1+ years Filed as: WELLS FARO BANK, N.A. Service code 15 · EIN 94-1347393 | Recordkeeping | $232,871 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $77,949 | $54,890+42.0% | $63,244+23.3% | $59,188+31.7% |
| Participation rate | 59.3% | 75.6%-16.3pp | 71.0%-11.8pp | 69.4%-10.2pp |
| Annual return | -5.09% | 4.56%-9.6pp | -70.31%+65.2pp | 5.51%-10.6pp |
| Employer contribution / active EE | $1,306 | $1,831-28.7% | $2,322-43.8% | $2,098-37.8% |
| Participant deferral / active EE | $2,950 | $2,803+5.3% | $2,953-0.1% | $3,265-9.6% |
| Admin fee / account holder | $153 | $66+131.1% | $5,893-97.4% | $92+65.8% |