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 | $93,584 |
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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 | $157,852 | $2,098,847-92.5% | $454,052-65.2% | $1,472,696-89.3% |
| Participation rate | 99.8% | 4.8%+95.0pp | 18.4%+81.4pp | 0.7%+99.1pp |
| Annual return | 16.85% | 11.84%+5.0pp | 8.95%+7.9pp | 13.24%+3.6pp |
| Employer contribution / active EE | $25,773 | $12,426+107.4% | $46,559-44.6% | $14,616+76.3% |
| Participant deferral / active EE | $0 | $614-100.0% | $131-100.0% | $830-100.0% |
| Admin fee / account holder | $0 | $3,320-100.0% | $19,831-100.0% | $4,137-100.0% |