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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 ... | $263 |
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).
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 | $36,528 | $46,360-21.2% | $147,617-75.3% | $52,331-30.2% |
| Participation rate | 40.6% | 64.9%-24.4pp | 84.6%-44.1pp | 68.1%-27.5pp |
| Annual return | 3.39% | 1.62%+1.8pp | 61.98%-58.6pp | 4.54%-1.2pp |
| Employer contribution / active EE | $0 | $2,126-100.0% | $5,564-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $1,480 | $2,258-34.5% | $4,895-69.8% | $3,022-51.0% |
| Admin fee / account holder | $3 | $766-99.6% | $11,612-100.0% | $592-99.4% |