Filed January 22, 2024
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO ADVISORS Service code 27 6005 PLUMAS ST · RENO, NV 895196067 | Advisory (Plan) | $23,262 |
Service code 12 · EIN 48-1205033 | Recordkeeping and information managem... | $12,148 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $22,719 | $47,648-52.3% | $130,660-82.6% | $67,582-66.4% |
| Participation rate | 30.1% | 60.4%-30.4pp | 71.7%-41.7pp | 71.3%-41.2pp |
| Annual return | 19.88% | 25.73%-5.9pp | 1709.29%-1689.4pp | 378.57%-358.7pp |
| Employer contribution / active EE | $0 | $1,408-100.0% | $4,092-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $1,097 | $2,616-58.1% | $3,603-69.6% | $3,539-69.0% |
| Admin fee / account holder | $186 | $105+77.4% | $5,463-96.6% | $142+31.0% |