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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $43,287 |
VIRGINIA CAPITAL STRATEGIES2+ years Service code 27 · EIN 30-0536979 | Advisory (Plan) | $16,411 |
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).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $22,129 | $37,044-40.3% | $71,796-69.2% | $57,658-61.6% |
| Participation rate | 41.5% | 61.1%-19.7pp | 69.1%-27.7pp | 70.2%-28.8pp |
| Annual return | 8.63% | 12.64%-4.0pp | 78.04%-69.4pp | 5.13%+3.5pp |
| Employer contribution / active EE | $0 | $720-100.0% | $1,924-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $820 | $1,974-58.5% | $2,794-70.6% | $3,061-73.2% |
| Admin fee / account holder | $152 | $101+50.8% | $4,815-96.8% | $95+61.0% |