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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO ADVISORS LLC Service code 26 · EIN 34-1542819 17 SQUADRON BOULEVARD · NEW CITY, TN 10956 | Advisory (Participants) | $3,195 |
Filed as: JOHN HANCOCK LIFE INSURANCE Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 14201 | Recordkeeping | $892 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $9,300 | $50,902-81.7% | $155,534-94.0% | $77,736-88.0% |
| Participation rate | 5.7% | 63.1%-57.4pp | 78.2%-72.6pp | 70.6%-64.9pp |
| Annual return | 12.15% | 34.85%-22.7pp | 64.92%-52.8pp | 31.26%-19.1pp |
| Employer contribution / active EE | $0 | $1,991-100.0% | $4,675-100.0% | $2,728-100.0% |
| Participant deferral / active EE | $247 | $2,824-91.3% | $5,630-95.6% | $4,651-94.7% |
| Admin fee / account holder | $128 | $437-70.7% | $15,900-99.2% | $433-70.4% |