Filed January 19, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MUTUAL OF AMERICA LIFE INSURANCE CO Service code 12 · EIN 13-1614399 320 PARK AVENUE · NEW YORK, NY 10022 | Claims processing | $124,113 |
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Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $141,999 | $1,863,299-92.4% | $373,805-62.0% | $2,822,362-95.0% |
| Participation rate | 99.7% | 5.0%+94.7pp | 19.3%+80.4pp | 0.6%+99.1pp |
| Annual return | 14.68% | 9.58%+5.1pp | 9.52%+5.2pp | 11.45%+3.2pp |
| Employer contribution / active EE | $25,407 | $21,155+20.1% | $41,951-39.4% | $17,219+47.5% |
| Participant deferral / active EE | $0 | $125-100.0% | $18-100.0% | $357-100.0% |
| Admin fee / account holder | $0 | $4,319-100.0% | $1,512-100.0% | $15,480-100.0% |