Filed November 13, 2023
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $47,479 |
WELLS FARGO BANK, N.A.2+ years Filed as: WELLS FARGO ADVISORS Service code 27 · EIN 34-1542819 | Advisory (Plan) | $27,500 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $57,107 | $42,582+34.1% | $171,082-66.6% | $57,658-1.0% |
| Participation rate | 57.7% | 63.9%-6.2pp | 76.7%-19.0pp | 70.2%-12.5pp |
| Annual return | 9.65% | 308.67%-299.0pp | 32.56%-22.9pp | 5.13%+4.5pp |
| Employer contribution / active EE | $242 | $1,306-81.5% | $4,002-94.0% | $1,974-87.7% |
| Participant deferral / active EE | $2,464 | $2,933-16.0% | $4,797-48.6% | $3,061-19.5% |
| Admin fee / account holder | $230 | $82+179.2% | $8,520-97.3% | $95+143.2% |