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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MUTUAL OF AMERICA LIFE INSURANCE CO Service code 12 320 PARK AVENUE · NEW YORK, NY 10022 | Claims processing; Recordkeeping and ... | $651 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $15,417 | $46,732-67.0% | $156,551-90.2% | $55,167-72.1% |
| Participation rate | 47.0% | 65.8%-18.8pp | 84.0%-37.0pp | 69.0%-22.0pp |
| Annual return | 8.82% | 17.72%-8.9pp | 32.23%-23.4pp | 169.23%-160.4pp |
| Employer contribution / active EE | $0 | $2,105-100.0% | $5,501-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $680 | $2,204-69.2% | $4,871-86.0% | $3,054-77.7% |
| Admin fee / account holder | $6 | $418-98.5% | $13,028-100.0% | $504-98.8% |