Filed January 22, 2024
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO ADVISORS Service code 27 6005 PLUMAS ST · RENO, NV 895196067 | Advisory (Plan) | $25,339 |
Service code 15 · EIN 48-1205033 | Recordkeeping | $16,346 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,034 | $47,898-58.2% | $117,529-83.0% | $64,824-69.1% |
| Participation rate | 33.5% | 61.9%-28.3pp | 70.6%-37.1pp | 71.5%-37.9pp |
| Annual return | -15.83% | -15.54%-0.3pp | 29.77%-45.6pp | 32.84%-48.7pp |
| Employer contribution / active EE | $0 | $1,774-100.0% | $4,179-100.0% | $2,507-100.0% |
| Participant deferral / active EE | $996 | $3,151-68.4% | $4,072-75.5% | $4,311-76.9% |
| Admin fee / account holder | $162 | $132+22.6% | $5,645-97.1% | $188-14.0% |