Filed August 10, 2022 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $393,431 |
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO CLEARING SERVICES LLC Service code 27 · EIN 34-1542819 | Advisory (Plan) | $125,501 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $45,996 | $120,321-61.8% | $147,080-68.7% | $99,314-53.7% |
| Participation rate | 29.1% | 73.4%-44.2pp | 82.2%-53.1pp | 71.7%-42.6pp |
| Annual return | 19.76% | 28.95%-9.2pp | 420.17%-400.4pp | 17.67%+2.1pp |
| Employer contribution / active EE | $395 | $4,158-90.5% | $4,933-92.0% | $3,264-87.9% |
| Participant deferral / active EE | $3,234 | $8,044-59.8% | $8,066-59.9% | $5,346-39.5% |
| Admin fee / account holder | $133 | $150-11.4% | $12,989-99.0% | $109+22.0% |