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 | Participant loan processing; Recordke... | $6,739 |
Participant 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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $6,469 | $37,884-82.9% | $79,467-91.9% | $75,289-91.4% |
| Participation rate | 87.5% | 65.0%+22.5pp | 73.3%+14.1pp | 72.4%+15.1pp |
| Annual return | -5.21% | 1.06%-6.3pp | 718.30%-723.5pp | -0.04%-5.2pp |
| Employer contribution / active EE | $336 | $1,680-80.0% | $2,800-88.0% | $2,405-86.0% |
| Participant deferral / active EE | $594 | $2,569-76.9% | $3,704-83.9% | $3,739-84.1% |
| Admin fee / account holder | $5 | $77-93.5% | $5,104-99.9% | $102-95.1% |