Filed March 9, 2023
Total covered: 20 employees
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| Provider | Service type | Compensation |
|---|---|---|
MUTUAL OF AMERICA INVESTMENT CORP10+ years Filed as: MUTUAL OF AMERICA LIFE INSURANCE CO Service code 12 · EIN 52-0784063 320 PARK AVENUE · NEW YORK, NY 10022 | Claims processing; Recordkeeping and ... | $2,247 |
Employer 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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $9,565 | $49,796-80.8% | $136,867-93.0% | $69,255-86.2% |
| Participation rate | 76.6% | 62.1%+14.5pp | 74.5%+2.0pp | 69.0%+7.5pp |
| Annual return | 19.73% | 12.45%+7.3pp | 42.97%-23.2pp | 26.73%-7.0pp |
| Employer contribution / active EE | $383 | $2,044-81.3% | $3,547-89.2% | $2,645-85.5% |
| Participant deferral / active EE | $1,256 | $2,062-39.1% | $4,924-74.5% | $2,890-56.6% |
| Admin fee / account holder | $6 | $484-98.7% | $10,340-99.9% | $733-99.1% |