Filed November 7, 2024
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $21,763 |
WELLS FARGO BANK, N.A.1+ years Filed as: WELLS FARGO ADVISORS PCG Service code 27 · EIN 56-0276690 | Advisory (Plan) | $9,052 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $17,350 | $46,360-62.6% | $147,618-88.2% | $52,331-66.8% |
| Participation rate | 61.5% | 64.9%-3.4pp | 84.6%-23.1pp | 68.1%-6.6pp |
| Annual return | -2.92% | 1.62%-4.5pp | 61.98%-64.9pp | 4.54%-7.5pp |
| Employer contribution / active EE | $843 | $2,126-60.3% | $5,565-84.8% | $1,882-55.2% |
| Participant deferral / active EE | $1,765 | $2,258-21.8% | $4,895-64.0% | $3,022-41.6% |
| Admin fee / account holder | $223 | $766-70.9% | $11,612-98.1% | $592-62.3% |