Filed September 9, 2024
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Filed as: WELLS FARGO Service code 15 · EIN 34-1542819 | Recordkeeping | $16,538 |
ADP BROKER-DEALER2+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $1,750 |
ADP BROKER-DEALER2+ years Service code 49 · EIN 22-3319984 | Other Services | $0 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $18,571 | $57,921-67.9% | $84,753-78.1% | $57,658-67.8% |
| Participation rate | 69.7% | 72.9%-3.2pp | 76.6%-6.9pp | 70.2%-0.5pp |
| Annual return | 9.03% | 10.24%-1.2pp | 22.78%-13.8pp | 5.13%+3.9pp |
| Employer contribution / active EE | $326 | $2,598-87.5% | $3,574-90.9% | $1,974-83.5% |
| Participant deferral / active EE | $1,852 | $2,742-32.5% | $3,712-50.1% | $3,061-39.5% |
| Admin fee / account holder | $67 | $130-48.7% | $5,333-98.8% | $95-29.7% |