Filed July 22, 2021 (most recent of 2 filings on file)
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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... | $3,176 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
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 | $6,167 | $37,117-83.4% | $147,617-95.8% | $55,191-88.8% |
| Participation rate | 31.0% | 63.6%-32.6pp | 84.6%-53.6pp | 69.2%-38.1pp |
| Annual return | 3.63% | 3.44%+0.2pp | 61.98%-58.3pp | 10.78%-7.1pp |
| Employer contribution / active EE | $406 | $1,620-74.9% | $5,564-92.7% | $1,899-78.6% |
| Participant deferral / active EE | $306 | $1,985-84.6% | $4,895-93.7% | $3,046-90.0% |
| Admin fee / account holder | $7 | $86-91.8% | $11,612-99.9% | $91-92.3% |