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 | Account maintenance fees; Claims proc... | $1,333 |
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).
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
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 | $9,080 | $75,962-88.0% | $154,111-94.1% | $64,173-85.9% |
| Participation rate | 97.8% | 70.4%+27.4pp | 83.0%+14.8pp | 69.6%+28.2pp |
| Annual return | -4.11% | 30.32%-34.4pp | 735.18%-739.3pp | 7.63%-11.7pp |
| Employer contribution / active EE | $1,286 | $3,350-61.6% | $5,298-75.7% | $2,381-46.0% |
| Participant deferral / active EE | $780 | $3,175-75.4% | $5,081-84.6% | $3,470-77.5% |
| Admin fee / account holder | $7 | $5,589-99.9% | $13,411-99.9% | $4,887-99.9% |