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 | Claims processing; Participant loan p... | $2,375 |
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 | $9,656 | $65,960-85.4% | $81,844-88.2% | $77,736-87.6% |
| Participation rate | 77.1% | 65.8%+11.4pp | 72.4%+4.8pp | 70.6%+6.6pp |
| Annual return | 19.21% | 26.64%-7.4pp | 778.87%-759.7pp | 31.26%-12.0pp |
| Employer contribution / active EE | $303 | $2,375-87.3% | $2,916-89.6% | $2,728-88.9% |
| Participant deferral / active EE | $986 | $3,505-71.9% | $4,323-77.2% | $4,651-78.8% |
| Admin fee / account holder | $6 | $526-98.9% | $7,355-99.9% | $433-98.6% |