Filed January 22, 2024
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.5 years Filed as: WELLS FARGO ADVISORS Service code 27 6005 PLUMAS ST · RENO, NV 895196067 | Advisory (Plan) | $31,098 |
Service code 15 · EIN 48-1205033 | Recordkeeping | $20,284 |
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 | $25,052 | $53,344-53.0% | $121,210-79.3% | $74,473-66.4% |
| Participation rate | 32.2% | 60.0%-27.8pp | 69.5%-37.3pp | 70.7%-38.5pp |
| Annual return | 24.76% | 35.15%-10.4pp | 987.41%-962.7pp | 34.36%-9.6pp |
| Employer contribution / active EE | $0 | $1,898-100.0% | $4,171-100.0% | $2,638-100.0% |
| Participant deferral / active EE | $972 | $3,220-69.8% | $4,084-76.2% | $4,530-78.5% |
| Admin fee / account holder | $188 | $382-50.9% | $5,647-96.7% | $347-46.0% |