Filed September 30, 2021
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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; Account maintenanc... | $1,218 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $13,091 | $55,453-76.4% | $170,435-92.3% | $62,293-79.0% |
| Participation rate | 80.2% | 66.4%+13.9pp | 83.6%-3.4pp | 69.5%+10.7pp |
| Annual return | 40.48% | 21.38%+19.1pp | 205.94%-165.5pp | 28.90%+11.6pp |
| Employer contribution / active EE | $656 | $2,164-69.7% | $5,432-87.9% | $2,042-67.9% |
| Participant deferral / active EE | $889 | $2,303-61.4% | $4,939-82.0% | $3,169-72.0% |
| Admin fee / account holder | $5 | $455-99.0% | $13,881-100.0% | $479-99.0% |