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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.4+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $17,444 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $19,799 | $59,186-66.5% | $76,768-74.2% | $56,287-64.8% |
| Participation rate | 54.8% | 75.2%-20.4pp | 77.0%-22.1pp | 69.9%-15.0pp |
| Annual return | -6.04% | 6.62%-12.7pp | 2.43%-8.5pp | -9.96%+3.9pp |
| Employer contribution / active EE | $0 | $1,759-100.0% | $2,485-100.0% | $2,111-100.0% |
| Participant deferral / active EE | $1,348 | $3,255-58.6% | $3,852-65.0% | $3,350-59.8% |
| Admin fee / account holder | $219 | $489-55.2% | $6,675-96.7% | $521-57.9% |