Filed March 9, 2023
Total covered: 20 employees
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MUTUAL OF AMERICA LIFE INSURANCE CO Service code 12 · EIN 52-0784063 320 PARK AVENUE · NEW YORK, NY 10022 | Recordkeeping and information managem... | $770 |
LINCOLN NATIONAL CORPORATION4 years Service code 13 · EIN 35-1140070 150 NORTH RADNOR - CHESTER ROAD · RADNOR, PA 19087 | Contract Administrator | $125 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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 | $18,860 | $63,768-70.4% | $98,506-80.9% | $79,389-76.2% |
| Participation rate | 42.5% | 69.9%-27.4pp | 73.3%-30.8pp | 70.7%-28.2pp |
| Annual return | 28.14% | 626.18%-598.0pp | 1494.92%-1466.8pp | 116.89%-88.8pp |
| Employer contribution / active EE | $171 | $2,558-93.3% | $2,961-94.2% | $2,428-92.9% |
| Participant deferral / active EE | $1,154 | $3,305-65.1% | $4,277-73.0% | $4,046-71.5% |
| Admin fee / account holder | $6 | $516-98.9% | $5,955-99.9% | $626-99.1% |