Filed February 24, 2025
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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 ... | $678 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $13,288 | $75,832-82.5% | $147,617-91.0% | $59,633-77.7% |
| Participation rate | 95.6% | 71.6%+24.0pp | 84.6%+10.9pp | 68.7%+26.9pp |
| Annual return | 3.86% | 0.37%+3.5pp | 61.98%-58.1pp | 2041.45%-2037.6pp |
| Employer contribution / active EE | $1,355 | $3,485-61.1% | $5,564-75.6% | $2,203-38.5% |
| Participant deferral / active EE | $784 | $3,131-75.0% | $4,895-84.0% | $3,192-75.4% |
| Admin fee / account holder | $5 | $5,986-99.9% | $11,612-100.0% | $4,297-99.9% |