Filed December 3, 2014
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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; Recordkeeping and ... | $3,178 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $9,417 | $32,913-71.4% | $80,004-88.2% | $59,188-84.1% |
| Participation rate | 72.9% | 56.9%+16.0pp | 73.0%-0.1pp | 69.4%+3.5pp |
| Annual return | 0.57% | 1.16%-0.6pp | 7.63%-7.1pp | 5.51%-4.9pp |
| Employer contribution / active EE | $736 | $789-6.7% | $2,473-70.2% | $2,098-64.9% |
| Participant deferral / active EE | $663 | $1,686-60.7% | $3,204-79.3% | $3,265-79.7% |
| Admin fee / account holder | $3 | $40-91.6% | $5,033-99.9% | $92-96.3% |