Filed June 23, 2020
Sign up free to preview peer percentile detail
Free accounts unlock saves, downloads, and 3-year history.
Sign up free to preview 10-year trajectory
Free accounts unlock saves, downloads, and 3-year history.
| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1 year Service code 15 · EIN 94-1347393 | Recordkeeping | $52,793 |
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO ADVISORS Service code 27 · EIN 56-0898180 | Advisory (Plan) | $27,790 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $76,238 | $57,921+31.6% | $84,753-10.0% | $57,658+32.2% |
| Participation rate | 36.5% | 72.9%-36.4pp | 76.6%-40.1pp | 70.2%-33.7pp |
| Annual return | 9.19% | 10.24%-1.0pp | 22.78%-13.6pp | 5.13%+4.1pp |
| Employer contribution / active EE | $0 | $2,598-100.0% | $3,574-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $1,430 | $2,742-47.9% | $3,712-61.5% | $3,061-53.3% |
| Admin fee / account holder | $429 | $130+230.7% | $5,333-92.0% | $95+353.7% |