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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $48,064 |
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.
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).
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 | $31,537 | $71,957-56.2% | $67,652-53.4% | $59,188-46.7% |
| Participation rate | 48.8% | 82.7%-33.9pp | 75.7%-26.9pp | 69.4%-20.6pp |
| Annual return | 1.58% | 8.53%-6.9pp | 6625.40%-6623.8pp | 5.51%-3.9pp |
| Employer contribution / active EE | $661 | $2,432-72.8% | $2,266-70.8% | $2,098-68.5% |
| Participant deferral / active EE | $3,942 | $4,211-6.4% | $3,560+10.7% | $3,265+20.7% |
| Admin fee / account holder | $94 | $64+47.2% | $4,821-98.0% | $92+2.4% |