Filed November 18, 2021
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO CLEARING SERVICES LLC Service code 49 · EIN 34-1542819 | Other Services | $29,591 |
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $15,941 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,102 | $71,802-69.2% | $133,980-83.5% | $57,658-61.7% |
| Participation rate | 96.2% | 85.5%+10.8pp | 87.1%+9.2pp | 70.2%+26.0pp |
| Annual return | 20.04% | 13.51%+6.5pp | 29.30%-9.3pp | 5.13%+14.9pp |
| Employer contribution / active EE | $2,293 | $3,161-27.5% | $5,211-56.0% | $1,974+16.2% |
| Participant deferral / active EE | $4,060 | $4,606-11.9% | $6,282-35.4% | $3,061+32.6% |
| Admin fee / account holder | $21 | $88-76.4% | $9,324-99.8% | $95-78.2% |