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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 | $3,446 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $6,020 | $55,453-89.1% | $170,435-96.5% | $62,293-90.3% |
| Participation rate | 34.2% | 66.4%-32.2pp | 83.6%-49.4pp | 69.5%-35.3pp |
| Annual return | 24.57% | 21.38%+3.2pp | 205.94%-181.4pp | 28.90%-4.3pp |
| Employer contribution / active EE | $0 | $2,164-100.0% | $5,432-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $484 | $2,303-79.0% | $4,939-90.2% | $3,169-84.7% |
| Admin fee / account holder | $4 | $455-99.2% | $13,881-100.0% | $479-99.3% |