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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 | Recordkeeping and information managem... | $3,863 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return 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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $5,813 | $48,078-87.9% | $78,676-92.6% | $62,881-90.8% |
| Participation rate | 93.2% | 65.2%+28.0pp | 73.6%+19.6pp | 69.3%+23.9pp |
| Annual return | 4.24% | 31.36%-27.1pp | 62.19%-57.9pp | 20.14%-15.9pp |
| Employer contribution / active EE | $687 | $2,015-65.9% | $2,850-75.9% | $2,281-69.9% |
| Participant deferral / active EE | $1,187 | $2,587-54.1% | $3,517-66.3% | $3,203-62.9% |
| Admin fee / account holder | $3,092 | $3,206-3.6% | $4,510-31.4% | $4,296-28.0% |