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Defined Benefit Plans

Wells Fargo offers a comprehensive array of defined benefit services to help strengthen your retirement plan. We can help reduce your administrative burden, provide fiduciary support to safeguard your plan, and increase employee awareness of the benefits you provide.

Tailored services

We work with you to design a strategy to meet your needs and drive your plan’s success.
Our services include:

Consolidated administration

For employers who sponsor both a defined benefit and a defined contribution plan, Wells Fargo’s integrated service approach offers convenience and efficiency:
  • One relationship manager coordinates service delivery and is a single point of contact for plans
  • Combined benefit statements give participants a consolidated summary of their defined benefit and defined contribution plan benefits to help them track their progress toward retirement
  • Online access for both plan sponsors and participants to defined benefit and defined contribution information
    • Plan sponsors can access plan information, initiate participant data changes, and use tools to evaluate participant behavior and identify communication needs.
    • Participants in a defined benefit plan can view their account balances and statements, retrieve plan information, request a benefit estimate, and more. For defined contribution plans, participants can view account balance and statements, change their contribution rate and investments, track fund performance, and retrieve plan information. Participants also have access to plan enrollment, retirement planning calculators, investment education, and more.
 
Recordkeeping, trustee, and/or custody services are provided by Wells Fargo Institutional Retirement and Trust, a business unit of Wells Fargo Bank, N.A. This information and any information provided by employees and representatives of Wells Fargo Bank, N.A. is for educational purposes only and does not constitute investment, financial, tax, or legal advice. Please contact your investment, financial, tax, or legal advisor regarding your specific needs and situation.