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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MUTUAL OF AMERICA LIFE INSURANCE CO Service code 12 · EIN 13-1614399 320 PARK AVENUE · NEW YORK, NY 10022 | Account maintenance fees; Claims proc... | $2,021 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $49,463 | $73,102-32.3% | $123,549-60.0% | $56,287-12.1% |
| Participation rate | 54.0% | 74.3%-20.3pp | 82.3%-28.3pp | 69.9%-15.9pp |
| Annual return | -5.69% | 3.01%-8.7pp | 119.20%-124.9pp | -9.96%+4.3pp |
| Employer contribution / active EE | $535 | $2,977-82.0% | $4,628-88.4% | $2,111-74.7% |
| Participant deferral / active EE | $5,505 | $5,423+1.5% | $6,426-14.3% | $3,350+64.4% |
| Admin fee / account holder | $6 | $554-99.0% | $9,284-99.9% | $521-98.9% |