Filed January 12, 2024
Total covered: 6 employees
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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; Account maintenanc... | $1,879 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $10,269 | $47,977-78.6% | $154,111-93.3% | $56,287-81.8% |
| Participation rate | 91.8% | 66.2%+25.6pp | 83.0%+8.8pp | 69.9%+22.0pp |
| Annual return | 8.09% | 3.54%+4.5pp | 735.18%-727.1pp | -9.96%+18.0pp |
| Employer contribution / active EE | $642 | $2,169-70.4% | $5,298-87.9% | $2,111-69.6% |
| Participant deferral / active EE | $1,612 | $2,392-32.6% | $5,081-68.3% | $3,350-51.9% |
| Admin fee / account holder | $7 | $438-98.5% | $13,411-99.9% | $521-98.7% |