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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... | $957 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $11,993 | $48,078-75.1% | $78,676-84.8% | $62,881-80.9% |
| Participation rate | 97.4% | 65.2%+32.2pp | 73.6%+23.8pp | 69.3%+28.1pp |
| Annual return | 7.23% | 31.36%-24.1pp | 62.19%-55.0pp | 20.14%-12.9pp |
| Employer contribution / active EE | $2,255 | $2,015+11.9% | $2,850-20.9% | $2,281-1.1% |
| Participant deferral / active EE | $1,939 | $2,587-25.1% | $3,517-44.9% | $3,203-39.5% |
| Admin fee / account holder | $2,689 | $3,206-16.1% | $4,510-40.4% | $4,296-37.4% |