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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 ... | $415 |
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 | $34,883 | $47,977-27.3% | $154,108-77.4% | $56,289-38.0% |
| Participation rate | 44.6% | 66.2%-21.6pp | 83.0%-38.5pp | 69.9%-25.3pp |
| Annual return | -4.96% | 3.54%-8.5pp | 735.21%-740.2pp | -9.96%+5.0pp |
| Employer contribution / active EE | $0 | $2,169-100.0% | $5,298-100.0% | $2,111-100.0% |
| Participant deferral / active EE | $1,229 | $2,392-48.6% | $5,081-75.8% | $3,350-63.3% |
| Admin fee / account holder | $5 | $438-98.9% | $13,411-100.0% | $521-99.1% |