Filed July 26, 2022 (most recent of 3 filings on file)
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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; Participant loan p... | $2,706 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $8,038 | $37,117-78.3% | $147,617-94.6% | $55,191-85.4% |
| Participation rate | 99.9% | 63.6%+36.3pp | 84.6%+15.2pp | 69.2%+30.7pp |
| Annual return | 3.54% | 3.44%+0.1pp | 61.98%-58.4pp | 10.78%-7.2pp |
| Employer contribution / active EE | $507 | $1,620-68.7% | $5,564-90.9% | $1,899-73.3% |
| Participant deferral / active EE | $904 | $1,985-54.5% | $4,895-81.5% | $3,046-70.3% |
| Admin fee / account holder | $3 | $86-96.3% | $11,612-100.0% | $91-96.5% |