Filed December 2, 2019
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2 years Filed as: WELLS FARGO ADVISORS Service code 27 1 NORTH JEFFERSON AVE · ST LOUIS, MO 63103 | Advisory (Plan) | $51,450 |
Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $13,708 |
Filed as: EMPOWER ADVISORY GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CA 80111 | Investment Management | $6,324 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $110,817 | $64,176+72.7% | $112,249-1.3% | $66,938+65.6% |
| Participation rate | 96.2% | 68.4%+27.8pp | 75.1%+21.1pp | 69.8%+26.4pp |
| Annual return | -16.14% | -13.80%-2.3pp | 27.48%-43.6pp | 1.58%-17.7pp |
| Employer contribution / active EE | $5,445 | $3,007+81.1% | $3,636+49.7% | $2,545+113.9% |
| Participant deferral / active EE | $8,734 | $3,694+136.5% | $4,729+84.7% | $4,238+106.1% |
| Admin fee / account holder | $306 | $626-51.2% | $6,412-95.2% | $594-48.5% |