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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $167,126 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $36,737 | $61,125-39.9% | $108,582-66.2% | $63,975-42.6% |
| Participation rate | 52.5% | 80.5%-28.0pp | 79.6%-27.1pp | 71.1%-18.7pp |
| Annual return | 8.45% | 14.06%-5.6pp | -51.70%+60.1pp | 48.65%-40.2pp |
| Employer contribution / active EE | $961 | $2,237-57.0% | $3,758-74.4% | $2,182-55.9% |
| Participant deferral / active EE | $1,639 | $3,574-54.1% | $4,311-62.0% | $3,356-51.2% |
| Admin fee / account holder | $68 | $72-5.2% | $7,645-99.1% | $70-3.1% |