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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $6,915 |
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO ADVISORS, LLC Service code 27 · EIN 34-1542819 | Advisory (Plan) | $4,323 |
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.
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).
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 | $6,301 | $63,905-90.1% | $74,184-91.5% | $57,658-89.1% |
| Participation rate | 69.1% | 79.8%-10.7pp | 76.6%-7.5pp | 70.2%-1.2pp |
| Annual return | 9.63% | 60.60%-51.0pp | 17.74%-8.1pp | 5.13%+4.5pp |
| Employer contribution / active EE | $0 | $1,840-100.0% | $2,370-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $1,485 | $3,448-56.9% | $3,550-58.2% | $3,061-51.5% |
| Admin fee / account holder | $29 | $91-67.7% | $5,586-99.5% | $95-68.9% |