Filed May 20, 2019
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.4+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $109,531 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $132,240 | $44,873+194.7% | $79,466+66.4% | $56,287+134.9% |
| Participation rate | 96.4% | 68.7%+27.7pp | 73.3%+23.1pp | 69.9%+26.6pp |
| Annual return | -4.37% | 0.81%-5.2pp | 718.28%-722.7pp | -9.96%+5.6pp |
| Employer contribution / active EE | $2,284 | $2,140+6.7% | $2,800-18.4% | $2,111+8.2% |
| Participant deferral / active EE | $10,095 | $2,746+267.6% | $3,704+172.6% | $3,350+201.4% |
| Admin fee / account holder | $376 | $418-10.2% | $5,104-92.6% | $521-27.9% |